'Virtual Farmers' Market' Assigns Its $5-10 Mil. Global Account
ATLANTA--Turkel Schwartz & Partners has been named agency of record for Foodtrader.com, an on-line food industry commodities exchange operating in 170 countries.
The agency's challenge, for what sources say is a $5-10 million account, is to create brand identity while building awareness and membership for Foodtrader.com, as the Web transforms what has traditionally been a rigidly structured, relationship-driven industry.
"The goal is to develop strategies that will change those long-term relationships," said the Miami shop's president, Philip Schwartz, "and make Foodtrader.com the choice."
Two other Miami agencies-- BSP Group and Courtney & Watson Rampage--sought the account.
According to the client, Turkel's solid experience in e-commerce and business-to-business was a key factor in the account win.
"We thought they were the strongest on the creative side," said Tor Boswick, Foodtrader.com's director of business development. "[TS&P] tells a very compelling story."
The Miami-based startup will be positioned as a "virtual farmers' market," bringing together growers, packers, distributors, importers and exporters from around the world.
"The food industry is tremendously fragmented and inefficient," said Boswick. "We've tightened up the supply chain, cut the middlemen out of the deal . . . If the quality is there and the price is lower, ultimately you're going to win."
In an industry that relies heavily on phones, faxes and face-to-face transactions, Foodtrader.com sellers post products and asking prices anonymously online. This gives buyers access to what the client said is the largest online inventory in the world. A typical lot is the size of a tractor-trailer container.
Buyers bid directly on products via the secure site and deals are struck. Insurance, transport, logistics and other value-added services are available on demand.
"We're an industry at its infancy," said Raschid Siahpoosh, Foodtrader.com's vice president of sales and marketing. "[TS&P] will separate us from the clutter."
Schwartz said the campaign, which will be predominately print, will run in trade publications, "multiple countries, multiple languages" in about two months. The agency will also handle all media duties.
Foodtrader.com's primary competitor is Buyproduce.com of Irvine, Calif.