Having returned from the first-ever Precision Farming Dealer Summit a couple of weeks ago in Indianapolis, I’ve had a chance to partially digest the depth and diversity of knowledge shared at the event.

The sold-out conference drew nearly 200 attendees including representatives from more than 50 dealerships throughout North America. With a theme of Profitable Precision Strategies, the program featured sessions on best practices for employee retention, how to effectively bill for precision support and entry points for delivery of data management service.

Here are 3 of the top takeaways from speaker sessions at the Summit:

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Video Transcript

Having returned from the first-ever Precision Farming Dealer Summit last week in Indianapolis, I’ve had a chance to partially digest the depth and diversity of knowledge shared at the event.

The sold-out conference drew nearly 200 attendees including representatives from more than 50 dealerships throughout North America. With a theme of Profitable Precision Strategies, the program featured sessions on best practices for employee retention, how to effectively bill for precision support and entry points for delivery of data management service.

Here are 3 of the top takeaways from speaker sessions at the Summit:

1. Don’t give away precision margin. Set profitable and attainable sales goals, two recurring points of emphasis overheard throughout the event.

   “We strive to maintain at the end of the year a margin of over 25%. If we don’t make over 25%, we’re going to start to lose money. I think it’s often tempting to offer a 5% discount to drive business. Well don’t do it unless you are making at least 25% after that 5% has been knocked off.” — Tim Norris CEO & Founder, Ag Info Tech

2. Bridge the gap between hardware and agronomy, whether this involves a third-party partnership or hiring agronomic experts to deliver another layer of precision service to customers.

   “It really became our eureka moment that virtually every agronomic decision your customers are going to make is going to be carried out through a piece of equipment.” — Devin Dubois, Vice President of Integrated Solutions, Western Sales

3. Have a candid conversation with new precision employees, set expectations and explain advancement opportunities based on performance.

   “You need to be honest and realistic with him and don’t sugarcoat the job. Tell him exactly how it is. Be completely honest with him. Tell him upfront, this job might entail 17 hours a day.” — Ken Diller, Precision Farming Manager, Hoober.

Look for extended coverage of these takeaways and more from the Summit in the March edition of Farm Equipment magazine.