Commodities industry is considered as conservative and traditional in terms of doing business. Even despite the fact that it adapts quickly to changing market environment and that it was a global business before the term ”globalisation” has been coined.
Main players have dominated the landscape and are known to each other. Network of personal contacts is as important as it always has been despite the thriving LinkedIN community. In spite of ubiquity of video conferences, it is a cliche to say that nothing can replace the face-to-face meetings and handshakes at least in the early stages of deal making and particularly in frontier markets, where opportunities for a big score may still exist.
However as precise contract formulation replaced legendary “dictum meum pactum” adage, organizations in commodities business may not any more rely on word of mouth marketing. They may also not afford to be seen as backward by their peers in industries they do business with. I am confident to assume that these banal realizations are the ones to be commonly accepted among commodities community. Nonetheless when we take a closer look at the state of online marketing on the side of commodities traders and producers, one would be shocked to observe that a vast number of companies lags behind in terms of application of web based solutions and advertising, not to mention the state of the design of their webpages that very often remain remarkably crude despite the means that these very organizations have at their disposal.
One could say, fine, maybe such is a signature of this business. After all, we deal here with crude materials, hence why not to extend this “crude” way of thinking into other areas, say marketing and online presence. Or even let us go furhter and claim that after all the business enjoys a “sexy” veil of secrecy and low profile, despite its remarkable impact on global economy.
But is that really true any more? I see the other tendency. Commodities trading increasingly comes out of the shadow and straight into the spotlight. Companies which will miss the opportunity to spend time and resources to build a proper brand image and brand recognition are going to suffer in terms of attracting clients, business partners and talent. While at the same time facing the increasing scrutiny of watchdogs, medias, ngos and regulators.
I mean please kindly have a look at financial industry, at your professional peers in hedge funds, asset management companies or private equity. This sector never cared about publicity, let alone online marketing. Nowadays asset managers hire social media specialists (that is a fact and it happens a lot). I am strongly convinced that commodities sector is going to follow the suite.
The mission of ANTHRACITE PR is to deliver Public Relations services to companies involved in commodities trade, production, storage, transportation and processing by helping them to create and manage the positive and professional image.