Inside This Issue
Customer Relationship Management Webinar
July 20th, 2006
11:30 CDT
How can CRM improve your bottom line? Find out at our next webinar, Harnessing the Power of CRM. Space is limited, so register now for this free 1-hour event.
Ag-Finance Webinar
Entira will facilitate a discussion between ag lenders and a panel of 3 large, diverse farming operations. For more information on this "no-holds-barred" interaction about what farmers really want from their lenders, please register now.
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Cashing in on Customer Differentiation
What retailers can teach ag marketers about boosting sales
By Joy Parr Drach, Entira
We all know the ag market is going through lots of changes. One of the biggest of these is in our customer base. It's more diversified than ever before. And that leads to some important questions for you to consider:
Have you changed your marketing mix to address this new customer diversification? Or are you still selling "one size fits all?" How about your go-to-market strategy? Is it the same old, same old? Or have you adapted it to the changing market? And what about your long-term business plan? Can you afford to use your old model? Or is it time to make some drastic changes?
Know where your market is headed
The answer to whether you're ahead of the curve or behind it probably depends on how well you really understand the magnitude of changes in the marketplace. For example, did you know roughly one out of every two dairy farms that was in business last year won't be around just four years from now if the current trend continues? And less than 35,000 farms control half of all the US farm revenue? Are you mistakenly treating each of these customers the same? [Read more...]
Winning the Budget Game
How to get bean counters and managers on the same side of the table
How does your company determine individual compensation? Most businesses base it on performance relative to budget with big bonuses tied to making the budget. But this system can limit - and even erode - long-term growth and profitability. How? By creating the opportunity for lowballing and gaming the numbers.
Striking out with lowballs
Typically, lowballing starts during the budget process. To ensure they'll get their bonus, employees underestimate their potential. While they may know they can deliver $50 million in sales, they'll say, "It's going to be a stretch, but I think I can do $45 million." The reasoning is: "If I say 45, we'll agree on 48, which will trigger my bonus, and I know I can do more than that." They can make a nice bonus without extra effort. [Read more...]
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