Co-founder of 10 MED Maxim Zotov took part in the Moscow Industrial Perspectives conference, which took place in the Russian capital on Thursday 22 October. He spoke of promotion of Russian brands on foreign markets.
Maxim Zotov stressed out that the analysis of global markets allowed 10 MED to identify 27 potential entry points into big international markets even during the pandemic. “A great number of people do not pay attention to large Asian markets. And I am not talking about China and Japan,” he stressed. “I mean Indonesia (270 million people), the Philippines (110 million), Malaysia, Singapore, the Middle East and through the Middle East – Africa”.
Maxim Zotov emphasised that in order to export your brand successfully, it is essential to follow several important rules.
The key rules for promoting your brand abroad from Maxim Zotov:
1. When should you prepare your brand for export? “My favourite phrase is “It should have been yesterday!”, said Maxim Zotov.
Partners of 10 MED get their products ready for export even before they start manufacturing them. First and foremost they translate their marketing maretials into English and create a multi-language website. “At this stage, these preparations do not take much time and require additional costs of 10-15%”, explained Zotov.
2. Start promotion of a Russian brand through the Russian-speaking diaspora. “We’re talking about 60-65 million people who speak Russian very well, are nostalgic for their home country and are ready to buy Russian goods”, said the co-founder of 10 MED.
3. Enter international markets through your partners. “Even large international companies benefit from outsourcing the promotion of their products,” said Maxim Zotov.
4. Assess the strengths and weaknesses of your brand and products. “The Russian Export Centre and the Chamber of Commerce and Industry are here to help,” underlined Zotov.
Maxim Zotov also said that in order to be successful abroad, the brand must participate in international exhibitions as networking is key to promoting one’s products.
“Industrial Prospects of Moscow” was organized to discuss the prospects for investment in the economy of the Russian capital.