The best way to look at options is kind of like insurance
This year, instead of making a New Year’s resolution to lose some weight or save some money, consider resolving to improve your marketing plan. PI Financial’s David Derwin has three simple marketing resolutions to get you started.
Resolution No. 1
Understand all the marketing tools in your tool box.
“In general, you want to be more aware of the tools that are out there, so be aware of what is out there and learn about it. There are going to be these pricing opportunities, and you need to be more involved and proactive on the marketing side.”
Resolution No. 2
Work with an adviser who will keep on top of your marketing.
“We all know farmers wear so many hats and they’re extremely busy. They don’t necessarily have the time to follow the markets as closely as is probably warranted. You want to work with someone who can stay on top of it for you and very actively monitor what the markets are doing.”
Resolution No. 3
Use exchange traded options.
“If there’s one thing I can really encourage producers to do is look at your marketing and get comfortable with how options work. Options act like a bit of a Swiss army knife — this one tool can be applicable in so many situations.”