I keep money and investments, both personally and for 5WPR, at a number of different financial institutions. Given the uncertain financial times, I am analyzing my banking relationships and where exactly our money is parked. Who would have ever predicted it would come to this in the year 2008 in the USA?

In any case, banks have a difficult argument these days to make to convince people that investments are safe.  Right now, perhaps the most important thing a bank can do is communicate with their clients. All my folks here know my mantra: You know what’s better and more important than new business?  Existing business.

As important as customer acquisition is, customer retention (and security for those customers) should now be the number one marketing priority for banks.  I think that many banks, large and small, need to immediately institute marketing materials and proactive measures reassuring customers that their investments are safe (and spin it however fits them best – Cash on hand, debt, etc.).  Real, perceived or otherwise, the elephant in the room needs to be addressed.  I am sure that the issue is vexing many consumers, and it’s surprising that banks haven’t done more to alleviate fears, even something as simple as putting signage up in walk-in locations to ease fears.

This posting was spawned by an email from an acquaintance who works at Signature (with whom I don’t bank) emailing me proactive communication about the security of banking with them.  Hopefully for everyone’s peace of mind, and the security of the banking industry, proactive communication keeps coming.

Ronn Torossian

5WPR

By now, many in the PR industry have heard about Jason Calacanis’ comments and thoughts on PR firms.  His recent post on Silicon Alley Insider, “How to Get PR for Your Startup: Fire Your PR Company,” has caused an uproar in PRland and much commentary. 

In general, criticism of PR firms makes sense.  Nearly all PR firms just aren’t that good.  They’re not creative; they’re not strategic; they’re not focused.  Yes, there are a few that deliver great results, but many more that are really terrible.  That’s why at 5WPR we pride ourselves on being starkly different from almost every other PR firm on the landscape.  However, Calacanis’ advice hits a very different nerve as far as criticism goes.  I won’t get into the DNA of his concepts, which have been dissected repeatedly across the internet, but I will say that I disagree.

So naturally, I want to meet him.  I recently asked for an introduction from a mutual friend, and while I have read his blog before, I started to read it more religiously.  In the process, I found a brilliant post on finding new talent that I not only want to commend, but also to emulate. Here’s the meat of the entry:

I hate using recruiters because they typically send you, well, not the best candidates.  The best candidates come from people you know telling you about people who are in good jobs already. As such, I’d like to ask you to send me the top five technology people you know in Los Angeles. Just send me some combination of their names, emails, mobile phone, and where they work. If you want to do an email intro that’s fine too.

I will do all the work in contacting them, and if we hire them and they stay past 90 days I will give you $3,000 cash money. This seems really fair to me since a recruiter would be 3-5x that amount, but the recruiter would–possibly–spend more time doing this. All I’m asking you for is FIVE NAMES.

I couldn’t agree more that the best candidates are those that are well-networked and well-known, not always the ones looking for a job.  They’re the ones who have a reputation for excellence.

I’m looking for these types of people – the ones that exude excellence.  So I’m going to match Jason’s offer: send me the names of the top five public relations people you know in New York or Los Angeles, and I might send you $3,000 to $15,000 in cash.

Email me the names at Ronn@5wpr.com.

Ronn Torossian

5WPR

Whenever there’s an action, there’s a reaction, and the media reacted to Black Sunday from every angle.  PRWeek summed up some of the different coverage.

Whenever a significant (or even not-so-significant) event happens, there are countless ways the media can approach the issue, and hence, many angles good PR firms can capitalize on for their clients.  We often talk about pro-active media campaigns versus reactive media campaigns.  There’s of course incredible value in pre-planned outreach, but rapid response to hot issues in the media is also essential.  Yesterday was one of those quickfire, reactive days.

The streets of NYC are oddly quiet today, and they really shouldn’t be.  The week after Labor Day is supposed to be back-to-work, nose-to-the-grind time.  The gym this morning, my favorite midtown restaurant, Starbucks, the midtown streets – all are eerily quiet.  I’m not the only who’s noticed.  Two clients also mentioned the silence that’s befallen the city, which makes me think it must be true.

My two cents?  Work hard.  Hard work can’t be replaced.  Keep focused and keep pushing.

Ronn Torossian

5WPR

Every day this week, I walked one block south of our offices to the tents at Bryant Park.Out on the street in front of the Fashion Week tents, lights were flashing and people were gawking.But while some were there for the fashion, I was there to people watch.As a marketer, I’m always inspired by the creative street theater and guerrilla marketing events saturating the Bryant Park sidewalk during Fashion Week.People watching allows me to see trends and make observations first hand.Reading a media report is a far cry from the palpable excitement on the street.

This morning, for instance, I encountered a few cross dressers promoting the Janice Dickinson show swarmed by photographers and a crowd of people.It’s a great example of a low cost, high impact way to capture influencers.

While I won’t reveal here the many successful stunts 5WPR executed for Fashion Week, I can say that street theater and guerrilla marketing are amazing ways for brands to capture mind share and media share at huge events, without incurring huge costs.

If you’re open to big ideas and have a entrepreneurial mindset, you can always find a way to incorporate your brand into the mecca of huge events, without having to pay the multimillion dollar price tag.Whether Fashion Week, The Superbowl or Sundance, 5WPR always finds creative ideas and angles to enter the media landscape, permeate the discussion and penetrate the tastemakers who attend.Brands need to seek creative, winning concepts… and winning sometimes means being outside rather than inside the box.Those who take the biggest risks with their brand often reap the biggest rewards.And by far the most attention.

Ronn Torossian
5WPR

Yesterday’s arrest of Kanye West at LAX was surprising to me primarily because it doesn’t happen more often.  West was arrested for suspicion of vandalism after confronting paparazzi media and allegedly smashing their  cameras.  The struggle between celebrities and the paparazzi is an issue that high profile people must deal with on a day-to-day basis, and it is extremely trying on both physical and emotional levels. It is incredible that today, even after the death of Princess Di, celebrities still have very little protective barriers between them and an intrusive swarm of prying media. Yes, people in the public-eye lose their right to complete privacy when they perform, appear in movies, or get rich by possessing rare athletic ability, but does that mean that there should be no boundaries whatsoever?  Should their children be endlessly subjected to flashing lights? Should they not be allowed to lead somewhat normal lives?

Ronn Torossian: 5WPR has worked with countless celebrities.  I vividly remember walking out of court with Lil’ Kim after she was sentenced in her perjury trial a few years ago. We were managing her crisis pr, and as we walked out the front door, we (Lil’ Kim, one security escort, two attorneys, two of her family friends and I) encountered at least 100 members of the media all jockeying for a shot or a comment.  It was a wall of reporters and photographers, flashbulbs blinking in her face. To say it was a mob scene is an understatement.  After the paparazzi got their pictures, they still wouldn’t move.  There was no choice but to push forward for the two blocks we were required to walk.  It was a very dangerous situation, and in LA, this happens every single day.

Managing the media for corporate clients is far different than managing celebrity-driven paparazzi media.  Every type of public relations, whether crisis-based or paparazzi, consumer or technology, requires different skills and a completely different set of “rules.” I don’t believe for a second that today’s incident between Kanye West and a swarm of paparazzi is an isolated occurrence, nor will it be the last time we read about a celebrity fighting for his privacy with paparazzi.

Ronn Torossian

5WPR

Reporters surrounded Lil Kim