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Agri Tech

Helping clients understand latest trends and upcoming opportunities in agri and farm businesses

What We Do

Farmer personas
Product usage maps
Competitive benchmarking
Market potential assessment
NPS diagnostic
Purchase journeys
Digital journeys
Farmer brand experience
Voice of the farmer
Brand perception maps
Target screening and diligence
Sector scan

Farmer personas

What is the profile of the farmer (education, size of family, first / second / third generation farmer, education of kids, ownership of capital goods, type of farmer - own land or tractor driver, tractor ownership - no. & brand, land area owned, type of crops grown - cash or food crops, sources of income, annual income)?
What does the farmer like to do in his leisure time (TV shows, news, documentaries) and vacations?
What is the level of online activity (Usage and time spent on social media platforms and shopping)?
Which agri-tech apps is the farmer using regularly and for what purpose? Which agri-tech app is the farmer aware of?
How do farmers evaluate alternative options and select the product and service provider?
What is the level of research undertaken before buying a product / service? What factors influence the farmers' decision?

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Product usage maps

What are the key requirements of farmers and which of these is the product / service fulfilling? What are the unmet needs?
What is the frequency of usage? How frequently does the farm product need repair and maintenance?
What is the comfort level of the farmer while using the product / service? What is the level of handholding / training / support required?
What is the product and spare part replacement cycle?
What is the level of satisfaction of farmers across product quality, duration of usage (life), spare part availability, after sales support, pricing?
How do the above vary across brands / players?

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Competitive benchmarking

What does the competitive landscape look like in each product category?
What are the differentiating features of the successful products / services from the competition (product offerings, TAT, service levels, pricing, etc.)?
How do our existing offerings compare to those of the competition?
In which customer segments are we strong vis-à-vis competition?
Where does the brand win against competitors and where does it lag compared to competitors?
What is the potential value upside in the target market?

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Market potential assessment

What is the size of the addressable market (TAM, SAM)? What are the key growth drivers and inhibitors?
What are the different customer segments and how do requirements vary across these segments?
Who are the key competitors and what are the attributes of their offerings? How are they fulfilling customer requirements? What are the key unaddressed pain points of customers across segments?
How does the brand's / player's existing offerings compare to those of key competitors?
What is the potential business upside / risk across segments?

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NPS diagnostic

How strong is the brand proposition in the minds of farmers?
Is the brand proposition consistent across regions and products/services?
What is the level of unaided and aided recall?
What are the top 3 words most associated with the brand?
How likely are farmers to recommend / advocate the brand to others?
Does the brand have a farmer pull or distributer / dealer push across products/ services?
Are farmers willing to pay higher fee / commission etc. for brands?

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Purchase journeys

What are the main touch points in farmer journey across different product categories?
How does the farmer journey originate (digitally, own sales team, agent, organic, etc.)?
How is the experience with the customer support across different players?
What was the level of dependence on the sales agents across different touch points?
What are the specific pain points and areas for improvement at different touch points?
What is the level of satisfaction on different touch points during the journey?

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Digital journeys

What are the main touch points in farmer journey across different product categories (farm equipment / fertilizers / crop nutrition, etc.? How is the user experience and ease of navigation?
What is the degree of adoption of digital at different touch points?
What are the KPC for adopting digital as compared to traditional options?
Which products / categories do they prefer purchasing online and why?
How does the digital journey differ from the traditional journey?
What are the specific pain points and areas for improvement?
What is the level of satisfaction on different touch points during the digital journey?

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Farmer brand experience

What are the key purchase criteria and usage preferences of farmers?
What different channels do farmers consider for discovery of farm equipment?
How do farmers evaluate alternative options and select the player?
What factors influence the customers' choice of products and player?
Where do farmers see value, e.g. quality of advice, convenience, after sales service, etc.?
Which players are customers most satisfied with and why?
How would they rate their experience with respective players?
What are the specific pain points and areas for improvement?
What would trigger them to shift to another player?
What is the propensity to shift to a digital platform?

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Voice of the farmer

Which players are farmers most satisfied with across product categories and why?
How has their experience been with different offerings across different product categories?
What are the reasons for preference of a particular player over others?
How do farmers rate the sales and service experience?
What are the improvement areas across product categories?
What is the level of stickiness across product categories?
What are the triggers that would make farmers shift to another player?
What are the key elements to provide a comprehensive user experience?

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Brand perception maps

Which brand of tractor/ farm equipment / fertilizers is the farmer aware of?
Is the overall opinion of the brands favorable or unfavorable?
Which brand does the farmer prefer to purchase from?
What word comes to the mind of the farmer when he thinks of the brand?
How does the farmer rate the brand on following parameters: reliability, innovation, focus on requirements, customer service, pricing, sales process, product performance, and after sales support?
How likely are farmers to recommend / advocate the brand to others?

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Target screening and diligence

How fragmented is the market in which the target is operating? What are the other suitable acquisition / investment opportunities in the target's market segment?
How does the target fare against competition across key operational, organizational, and financial metrics?
What is the depth in the technology / software portfolio of the target company vs category peers / leaders?
What are the key demand drivers for buyers?
How is buyer behavior going to change in the future? What trends are expected to shape buyer behavior?
Which buyer segments are driving the category? Which segment does the target cater to?
What is the CAC and LTV of target accounts? Are they above / below industry standards?

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Sector scan

What key segments constitute this sector? How have they been growing over the past 5 years? What are the key growth drivers?
What is the market size, overall and by segments and categories? How are the segments estimated to grow in the next 5 years? Why?
What are the key players operating in each segment? How do they stack up against each other?
What are the key products and services they are providing? What needs are they fulfilling?
What are the headwinds and tailwinds in this sector?
What are the key technological advancements this sector has seen? What are the emerging technologies?
How has the investment activity been in this sector in the recent past? How will this continue / change in the near future? Which segments will attract investment and why?

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Connect with our Agri Tech Experts

Madhur Singhal

Mentor

Aryaman Tandon

Mentor

Hitesh Gossain

CEO, Network

Amar Choudhary

CEO, Intelligence & Insights

Aditya Thakur

Growth Leader, Operations

Related Case Studies

AgriTech platform farmer behavior research

Objective

An investor wanted to conduct research on an AgriTech company providing services to the farming community in India
Client wanted to understand profile of farmers the AgriTech company caters to
Client wanted to understand the overall farmer behavior – their decision-making criteria for selection of online AgriTech platform, value proposition of the AgriTech company, usage trends and NPS

Methodology

Conducted in-depth farmer interviews (N = 30) and farmer survey (N = 100) to understand farmer profile, decision making criteria, usage trends and NPS
Created a dynamic excel model and survey data book to depict the trends in customer profile and awareness, farmer experience & usage, decision making criteria, and farmer feedback on inputs and output
Conducted deep secondary research via leading news publications, agri reports, player websites & Government database

Impact / Outcome

Successfully provided client with an understanding of farmer behavior – including their profile, selection criteria, usage trends, experience and NPS, and therefore acceptance level of the value proposition

Let's talk research firms in mumbai

Benchmarking of key AgriTech players basis select parameters

Objective

A leading private equity company in India wanted insights on competitive landscape of AgriTech players in India
Client wanted to understand in detail the voice of stakeholders involved

Methodology

Conducted in-depth interviews with farmers (N = 40), retailers (N = 20) & institutional buyers (N = 20)
Created transcripts of the interviews to map the voice of various stakeholders and highlight key insights
Created a set of parameters to benchmark target with competitors operating in the same space
Conducted deep secondary research through various sources to substantiate key findings

Impact / Outcome

Successfully provided client with overall competitive landscape & also benchmarked key competitors vs target
Conducted in-depth interviews to gain a micro-level understanding and mapped the voice of stakeholders

Let's talk research firms in mumbai

Diagnostic research for platform facilitating exchange of tractors

Objective

A leading tractor manufacturing company wanted to understand its NPS amongst stakeholders, including different segments / personas of farmers, dealers and aggregators
Client wanted to understand the needs and pain points of stakeholders
Client wanted insights on the willingness of mechanics to be active advocates of awareness and usage of tractor app

Methodology

Conducted in-depth interviews (N = 100) of farmers, dealers, aggregators and mechanics in 5 weeks across 10 states
Benchmarked different personas / segments among stakeholders, NPS, key needs and pain points in purchasing exchange tractors
Conducted customer survey (N = 100) for farmers, dealers and aggregators in 2 weeks across 10 states to understand KPC, NPS, drives of promotion and detraction, pain points & improvement areas

Impact / Outcome

Client understood the different segments / personas of stakeholders, their needs, NPS and pain points of tractor app

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Digital journey and aggregator behaviour research for an exchange tractor platform

Objective

A leading tractor manufacturing company wanted to understand digital journey and behavior of its Tractor app amongst aggregators, including different segments of aggregators
Client wanted insights on exchange tractor digital journey of aggregators
Client wanted to understand current needs and pain points

Methodology

Conducted in-depth interviews (N = 50) of aggregators across 10 states to understand
Created a discussion guide to answer key parameters like - Exchange tractor digital purchase journey, needs and pain points in purchasing exchange tractors, usage of Tractor app, its strengths and weaknesses
Conducted secondary research to understand digital penetration in the focus states

Impact / Outcome

Client understood the different segments, exchange tractor digital purchase journey, needs, pain points, awareness and usage of tractor app amongst aggregators
Client also understood key strengths of the app, strategic, operational and tactical issues with the app and ways of mitigating them

Let's talk research firms in mumbai

Farmer research on usage and experience with AgriTech solutions platform and services

Objective

An investor wanted to conduct research on an AgriTech company providing end-to-end solutions and services to the farming community in India
Client wanted to understand profile of farmers the AgriTech company caters to
Client also wanted to understand decision making criteria for selection of online AgriTech platform, value proposition of the AgriTech company, usage trends and NPS

Methodology

Conducted farmer survey (N = 1,000) to understand farmer profile, decision making criteria, usage trends and NPS
Conducted in-depth interviews (N = 40) to understand farmer behavior & their satisfaction levels
Created a dynamic excel model and survey data book to depict the trends in customer profile
Benchmarked farmer experience & usage, decision making criteria, and feedback on inputs and output

Impact / Outcome

Successfully provided client with an understanding of target farmer profile, selection criteria, usage trends, experience and NPS, and therefore acceptance level of the value proposition

Let's talk research firms in mumbai

Market potential assessment of AgriTech landscape in India

Objective

A leading investor wanted to understand market opportunity for AgriTech solutions and services in India; the market size, segments, growth enables & barriers
Client wanted to understand competitive landscape to understand the major players, their scale of operation and business models
Client wanted to analyze the perception of different stakeholders – farmers, retailers and institutional stakeholders regarding the key players

Methodology

Conducted in-depth interviews with farmers (N = 100), retailers (N = 40), institutional stakeholders (N = 15)
Created discussion guides and transcripts covering insightful, deep level questions
Benchmarked competitor’s basis business model and scale of operation via deep primary & secondary research
Conducted secondary research using leading news publications, player websites, reports & Government databases

Impact / Outcome

Client was able to understand the AgriTech space in India, the market size & growth outlook and was also able compare the major players basis solutions and offerings, business model & scale of operations
Client also understood the perception of different stakeholders (farmers, retailers and institutional stakeholders)

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Rapid due diligence of an AgriTech firm

Objective

A global VC firm was evaluating investment in a leading AgriTech company in India and wanted to validate their business case forecasts to understand full growth potential

Methodology

Conducted primary research with both warm and cold connects across farmers, retailers and suppliers (N = 50) to understand costs, brand affinity, share of wallet, etc.
Secondary research to understand crop cycles, farmer count, input cost growth and variations by states
Engaged in conversations with the management to understand their business model and business outlook for the next 5 years