Ask a Margins Expert
Have a margins question? Through this blog, you will gain insight into improving your bottom line, as a margins expert answers questions and provides farm business advice.
Jun 19, 2012
Social media has become a huge platform for information exchange. Social media is no longer a kid's toy, but rather a unique information gathering system which you can use to help manage your business. This media source can provide fast information, along with accurate first-hand accounts with specific details and pictures.
Twitter in particular has made it possible to communicate with virtually hundreds of people in an instant. Conversely, Twitter gives you the ability to follow specific people, organizations, or companies which can provide you with beneficial information. With Twitter you have the ability to follow the most reliable sources of information. If you receive unreliable or incorrect information from a particular source you can cut them out of your “followers” list.
In today's world, we tend to have information overload. Twitter gives you the ability to filter out information that you're not interested in or is not trustworthy.
If you're not already on Twitter, this is a great time of year to begin using this powerful tool. Hundreds of farmers, commodity traders, Ag companies, universities, and numerous other agricultural interests tweet massive amounts of valuable information. For example, with the sporadic rainfall, drought conditions, heat, and other crop challenges, you're able to get firsthand accounts from specific farmers, in specific locations. This can give you a much better perspective of crop conditions for the entire US, rather than just what you see in your area or County. Another huge benefit is the ability to follow commodity traders. Having some insight into the psychology behind their actions can definitely give you a better understanding of the market in general.
This blog is not a commercial for Twitter; instead, it's a commercial for making sure that you're always using every tool possible to improve your margins. Twitter is just another tool for your “Business Toolbox.”