Edelman has announced the formation of PERSICOPE, a global market-entry offering that provides research, communications and stakeholder engagement counsel and execution to companies expanding into foreign markets.
PERISCOPE will be led by Chris Hayes, executive vice president, international and market entry at Edelman.
As the world continues to globalise, the need to provide market intelligence and strategic insights for clients looking to enter new markets and promote their products and services has significantly increased, Edelmn says.
In emerging markets, the World Bank expects cross-border transactions and FDI to increase from 1,400 deals in 2011 to more than 4,500 per year by 2025. Eight nations – BRIC (Brazil, Russia, India and China) plus TIMP (Turkey, Indonesia, Mexico and the Philippines) are expected to constitute nearly 50 percent of global GDP growth over the next 10 years, economists predict. Including the United States and Vietnam, this figure is projected to exceed 60 per cent.
Hayes said: “This is clearly a huge growth area for Edelman, as we are seeing companies enter new markets at a blistering pace and foreign direct investment (FDI) is skyrocketing. Yet we live in a globalising, not globalised world. While it is easier than ever to do business globally, it is also more important than ever for companies to truly understand – and be understood by the country and market they are entering, and to engage stakeholders in a meaningful way.”
Edelman says PERISCOPE is “distinctively positioned” to help companies navigate the complexities of foreign markets. Building on Edelman’s market-entry communications and engagement experience, the firm says it will be able to utilise its local expertise in key markets to provide clients with greater insight about the trends, behaviours, and risks of the markets they are entering.
The offering is composed of regional leads across Edelman’s worldwide network of offices, well-connected senior consultants, subject-matter experts and strategic partners in finance, political-risk management and cultural training.
Alan VanderMolen, vice chairman, DJE Inc., president and CEO Global Practices, Edelman, added: “As global businesses continue to grow and transcend borders, PERISCOPE provides a team, service and thoughtful process that are strategic and flexible enough to complement all Edelman practice areas and geographies.”
Hayes, a 14-year Edelman veteran with extensive experience developing and managing international corporate and public-affairs campaigns, will be supported by market-entry experts throughout Edelman’s 63 offices, who will provide localised insights and manage the implementation of market-entry strategies and programs in the different regions.