Performance guarantees bring less risk to ag input technology space
The CEO of Sound Agriculture says performance guarantees help lower the risk farmers take when trying out new ag tech products.
Adam Litle tells Brownfield performance guarantees are not that common yet, but some companies including Sound do offer them.
“Where we say, look, use our product, try it out, and put it on enough acres and fields to really give it a fair go and if it doesn’t return the cost then we will pay you back. It really protects the downside, verses just take my word for it”.
He says this feature helps farmers see which companies are confident in their products, allowing them to be confident in them as well.
“You don’t have to be afraid, you don’t have to wait and see for years and years, you can take advantage of these products, try it out on your own situation and still be protected. We have seen a lot of success with that and I encourage companies to do more of that and growers to look for it.”
Litle says he hopes to see more of these offered in the future to help farmers narrow down what works for their operation.