Precision technology provides an opportunity to build customer relations and drive business when wholgoods sales are flat or down, says Stephanie Pharris, machine technology for Bingham Equipment Company.

Pharris has a vast ag-tech background. Prior to joining Bingham Equipment, she spent over 10 years implementing technologies for a multi-state farming operation and also worked on a global team that scouted ag tech startups for partnerships with an ag OEM. 

"I think my number one takeaway is that we're focused in the right areas. Most people will tell you they're forecasting equipment sales to be flat or slightly up if we're really lucky. So, you're going to have to drive some of your other areas of business for your dealership."

"So, precision, service, parts, those things. And precision, especially with telematics, has an opportunity to help drive all of those things if we're doing it correctly and we're being intentional on how we're leveraging that customer data and things like that to help our customers improve. It's going to be a down year for them, likely too, they've experienced. So, precision can help them save money, help them get return on investment."

"So, if we can really partner with them to bring an ROI to their business during this time when it's down, it builds that relationship and that loyalty so that when there is a turnaround, they're coming to us and we're moving more of the iron side as well."

She says the precision sales can help bridge the gap when customers might be holding back on large equipment purchases and helps bring value as well. 

"Ultimately, from a customer perspective, that's what you want. I don't want somebody who's just selling me something. I want somebody that's committed to understanding my business and my challenges and bringing me solutions. So, if we can really use this kind of free time year where sales aren't just rocking and rolling and we kind of have more time to put towards it, let's bring that customer value in some other way."

Watch the full version of this episode of On The Record