After just returning from a business trip to Moscow, a truly glorious city, I wanted to share a few thoughts on the state of their Public Relations and Media markets.
Following this trip, I predict an explosion within the entire Russian communications industry within the next five to ten years. Indeed, despite some political difficulties, the region is expanding and maturing in tremendous ways. There abounds limitless opportunity to market to consumers who have increasing wealth, knowledge and are major purveyors of goods.
Currently, there are some smart midsize PR agencies who work throughout Russia and bordering countries including Ukraine, Georgia, and others. Much like most of Europe, these nations have separate languages, newspapers, and other forms of media – and these PR firms have learned to target them specifically. As in the US, local relationships really matter (so do payoffs, which are still prevalent here as local PR pros told me – reporters want money sometimes for strong stories).
Moscow is indeed a breathtaking city, one with rich culture, history and scenery. Red Square and the Kremlin are a visual taken straight out of a movie, something everyone must make an attempt to see at least once in their lives.
The hotel where I stayed, the Ritz-Carlton, has much of the tremendous opulence which we picture when we think of Moscow – countless Rolls Royces and Bentleys in the driveway, women adorning seven-figure jewelry, and many other signs of extreme wealth. As I told the Real Deal, the most expensive new real estate project in NYC, 432 Park Avenue, is actively marketing their project in the VIP lounge of the prestigious hotel…and for good reason.