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Agrimarketing : April 2009
AGRI-MARKETERS’ UPDATE: PART ONE IN A SERIES USINGUCCDATATOMARKET STRATEGICALLY by Dan Salerno, Equipment Data Associates W hat if you knewthe purchasing histories of 1.6million-plus buyers of farmingmachinery and attachments nationwide? Surely, itwould affect your abil- ity to be the first to infer newtrends. You’d also be better equipped to identify selling cycles and purchas- ing behavior. You’d gain critical insights into understanding cus- tomer loyalty to specific brand makes andmodels. Ultimately, lever- aging that kind of information would help you gain new, long- standing customers. EquipmentData Associates (EDA), Charlotte,NC, canmake it a reality. EDAhas the largest UCC data library in the country and gives eleven industries, including agricul- ture, the tools tomake that informa- tionwork harder than ever. HOWDOES ITWORK? EDAprovides data on individual farmers and companieswho collec- tively have financedmore than 4mil- lion units of farming equipment since 1995. By collectingUniformCommer- cialCode (UCC) records nationally, EDAis able to providewhat no other organization can—detailed informa- tion on the end users of ag equipment, including buyer,manufacturer,model and serial number. Every day,in every state, thou- sands ofUCCs are filed nationwide. As part of theUCC, records are used by a lender to register a lien on a financed piece of equipment. EDAhas developed partnershipswith each state to receive these public records in bulk to facilitateprocessing. Once EDAreceives a UCC filing, it goes through extensive data hygiene and standardization by more than 50 data experts before being entered into amassive rela- tional database. This database is made available to subscribers of EDA’s flagship product—Catapult, an online application that empowers users to run customqueries aswell as receive automated alerts the moment the systemdetects new records in their account. UCC DATAPERFORMS One of the big benefits EDA’s clients enjoy is the ability to slice-and-dice their data, 54 fields of data to be exact, to identify emergingmarket trends. The above charts illustrate nationalmarket share for three of the 35 agriculture equipment types tracked by EDA. Of course not every piece of equipment sold is financed, so this datamay not be precisely correct. However, industry experts estimate that 40%to 80%of equipment, depending on the type, is financed by a third party,so the data is a strong indicator ofmarket shares. POWERFUL TOOLS Equipmentmanufacturers’, dealers, lenders and others in the ag industry recognize it’s critical to be the first to knowwhatmachinery has been financed in yourmarket. Catapult’s automatedwatch tools put you in the driver’s seat to proactively accel- erate your business toward success, instead of reactively hoping you find success by being at the right place at the right time. “Our intention behindCatapult is to create an automatedmarketing ana- lyst formanufacturers, dealer princi- pals, and field sales representatives,” saidDavid Schwartz, EDAVice President of Sales andMarketing. “Catapult’s automatedwatch tools are one of the key differentiators and are a major part of our value proposition.” One such tool is the Customer- Watch,which enables users to keep a pulse on their territory, providing immediate notificationwhen an existing customer has purchased any newor used competitivemachines. INCREASE EFFICIENCY AND BOTTOMLINE Todaymore than ever, your ability to find and retain clientswill depend on howwell you understand your markets. Catapultworks in the real world to helpmarketing profession- als in the agriculture industry drive newdealer leads,measure ROI of marketing strategies, identify new opportunities andmaintain a higher level of service. AM Dan Salerno is the Agriculture Product Manager for Equipment Data Associates. Phone 800/288-8262; 704/845-1385; dsalerno@ edadata.com, or www.edadata.com April 2009 s Agri Marketing 27
May 2009 Supplement