Faces and Markets of PRGN is a new series of blog posts in 2024 that puts PRGN member agencies and their markets in the spotlight.
Each week, expect to read about a market from an economic, business and communications point of view, brought to you by the very people living and working on the ground in that country, state or region.
The blog pieces illustrate the vast amount of in-depth knowledge of business, media, communications and marketing PRGN brings together having presence in more than 40 countries and 70 cities on six continents through its member agencies globally.
In this week’s blog post, Hanan Kamir of KAMIR, describes the business and communications environment in Tel Aviv, Israel, and offers advice on navigating his home market.
Business environment in Israel
Tel Aviv, Israel, is home of dynamic entrepreneurial spirit. Israel is a democratic state in the Middle East and boasts a vibrant business ecosystem. The country is currently facing a war that might have implications on its business industry, though the Israeli economy was in a very strong position when the war started, a fact that may help the country significantly in its recovery process. Dominating its business landscape is the hi-tech sector, earning the nation the title of ‘Startup Nation.’ Annually, numerous startups emerge, reflecting a dynamic entrepreneurial spirit. This sector’s growth is complemented by robust capital markets and a surging real estate industry, alongside advancements in renewable energy technologies and the burgeoning natural gas market. Significantly, global tech giants like Apple, Google, Intel, Microsoft, and Meta have established R&D centers in Israel, demonstrating the country’s allure as an innovation hub. Israel’s appeal extends to leading global venture capital firms, including General Atlantic, Third Point ventures and more, who show a keen interest in investing in the region’s promising ventures. This multifaceted economy highlights Israel’s significant role in shaping global trends in technology and business.
Israel’s media landscape, though small, is influential with key daily newspapers, TV channels, and specialized financial and tech media. The concentration of media sources means widespread influence, as most citizens turn to these outlets. Israeli media, critically probing, seeks hidden aspects in stories, challenging for companies and individuals. Strategic media relations are essential. The digital era has expanded media’s reach, with online and social media shaping opinions. Previously, Israeli media welcomed multinational companies, but now, with numerous international players present, the media scrutinizes their motives and agendas more closely, reflecting a matured market perspective that seeks to understand the deeper implications of their entry into the Israeli market.
Top 3 advice for a foreign company to navigate the media and communications environment in Israel
1. In-depth Market and Media Research: Before entering the Israeli market, it’s crucial for foreign companies to thoroughly research not only the market potential business-wise, but also the media landscape specific to their sector. Understanding the key players in the market, their coverage styles, and the general sentiment towards similar activities can provide valuable insights.
2. Adapting Messages for Local Sentiment:
After the research phase, companies should strategize to adapt their core message or story to align with Israeli sentiments and media preferences. Understanding that a narrative successful globally may not resonate as well in Israel is key to carry out communication effectively.
3. Precision in Execution and Media Relations:
Due to the competitive and relatively small media landscape in Israel, precise execution of media strategies is essential. Making informed choices about which media outlets to engage with can significantly impact a company’s reputation and success in the market.
Following these strategies can help foreign companies navigate the unique characteristics of the Israeli market and media, fostering successful business operations and media relations.
Most influential media for consumer communication in Israel
Ynet / Yedioth Ahronoth – Online + Print
Walla! – Online
Keshet/ N12 – Online + TV
Israel Hayom – Print + Online
Maariv – Print + Online
Most influential media for corporate communications in Israel
Hanan is KAMIR‘s CEO and he shapes its future, managing clients and projects in sectors like Technology, Venture Capital and Capital Markets. Prior to KAMIR, Hanan worked as an underwriter at Value Base Investment Bank.
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