5 Tips to increase buyer interest in your grain
The more you put in the more you get out, and at Graindex this is truer than ever. Graindex has been changing the way both farmers and buyers do their business for almost 5 years. We’ve gained some interesting insights in that time into how our services have evolved the traditional buyer and seller experience. For the first time farmers are truly in control of how they trade, with free access to insights to make well informed market decisions. However, to take your success to the next level one piece of user behaviour is key.
A seller with over 75% sell rate (i.e. they sell 75% of grain listed) is deemed a good performer on Graindex. These high-level performers see a perpetual improvement on listings as time goes on. Buyers are like elephants; they have long memories! They value loyal customers, encouraging high levels of engagement and a willingness to go the extra mile on price from multiple buyers. Consequently, farmers with a long-term, low sell % will start to see the opposite.
Herbert Hindley from Cheshire started trading on Graindex in July and has since made multiple sales, with a 87% sell rate. He says “I have noticed that the more I build my sell reputation on Graindex the more I notice an increase in bids and also bid spread (difference between lowest and highest bid). One of the main reasons I use Graindex is because successful buyers rotate so much it leaves me less financially exposed to one merchant in a volatile market. I also like the buzz of watching my bids come in”.
On average a buyer is rarely successful more than 20% of the time they are placing a bid, which proves the concept of Graindex. This high rotation of buyers allows farmers to see a variation of national, regional, local and independent buyers alongside many end users. A huge advantage of a buyer using Graindex aside from procuring grain is the price feedback on a listing, receiving real time market insight, feedback on successful bids, spreads, and averages, all of which is extremely valuable information.
To help maintain and grow your sale rating here are 5 top tips:
Utilise Insights Page ahead of placing your listing - Gauge recent trades and the current market to manage expectations of what your listing will achieve.
Set Target Prices - Speak to your Business Development Manager to set a target when you want to be alerted when the market moves.
Attach Samples - By attaching sample results and photos for any grades gives the buyers confidence in placing their best bid for the most suitable end market.
Add Additional Notes - What is your priority? Movement, Payment, Fallbacks, End destination, Haulage? Any additional information helps to engage the buyers by ensuring their bid is the most relevant to your needs.
Take note of the Decision Acceptance Window - Setting time aside for the 15 minutes decision window to fully consider your options and make the right decision for you.
Visit our Insights page to learn more about the current market ahead of the next trading period.
Rachel Fenwick
Graindex Business Development Manager
Rachel.Fenwick@Graindex.com