I clipped an advertisement from a magazine today, and as I was getting ready to dial the number to inquire about the service , I saw the contact said to call a Chief Revenue Officer (CRO).  I couldn’t help but think, as a customer, can I get the best deal possible dealing with the CRO or is he only about maximizing revenue (as his title implies)?  And shouldn’t every single employee be all about maximizing revenue?

From a marketing (and sales) perspective I really don’t like the title and would advise against using it.

Ronn Torossian

5WPR

This week, I read one of the most absurd articles I have seen in a very long time in The Wall Street Journal.  A quarter of a page was devoted to – stop the presses! – $25,000, the amount that CVS spent on golf outings for its top executives. Using that amount of ink on a non-story like this is simply absurd. If this environment continues, many businesses will simply not be able to function.

Every single day, businesses hold conferences and conventions, entertain clients, and even golf with them. In the year 2009 (and for quite a while before that), business isn’t conducted 9 to 5, and relationships are often built in non-traditional ways. What’s the big deal? Twenty-five thousand dollars? How many deals does that close? Two summers in a row, during different economic times, I rented a luxurious house in the Hamptons (at a significantly larger fee than CVS paid for their bigwigs to golf) to entertain clients, allow employees a getaway, etc. It was good for business and garnered many relationships that had a return well beyond the summer rental fee. I would venture that CVS receives ROI from perks.

The media and the government need to stop this craziness. Sponsorships aren’t bad, marketing isn’t bad, and perks aren’t bad. They are necessary in business, and not allowing them will cause the economy to suffer even further.

Ronn Torossian
5WPR

One of the most enjoyable aspects of owning a public relations agency (and working in PR in general) is the ability to meet a multitude of interesting people.  I have regularly met billionaires, fascinating entrepreneurs, celebrities and politicians over the years.  Today, I met the rare honest politician, and he very much impressed me.  These meetings reaffirm the beauty of working in PR and touching a variety of different industries.

Today, with many clients and friends of the agency in attendance, 5WPR hosted a speech by Nir Barkat, the just elected Mayor of the most magical city in the world, Jerusalem.  I met Barkat a few years ago and have spent time with him since then both in Jerusalem and here in the U.S.  He truly is the quintessential non-politician, and as his friend, I am proud to have been his first host in NYC during his first official visit as Mayor.  He discussed Jerusalem’s relationship with the American community, and he said, “I propose a partnership where those worldwide who care about the future of Jerusalem participate in the city’s development.  Under my leadership, the city of Jerusalem will build relationships, and we will do business together.”

Barkat spoke of public-private partnerships that allow overseas individuals who aid in Jerusalem’s development to meet the cream de la crème of Jerusalem’s business community.  I have always believed government should encourage business and that people who meet with mutual interests (even non-business related) will end up being beneficial to one another (and Barkat specifically mentioned sports, which I agree drives deep bonds).

Barkat, who is a self-made multi-millionaire through his entrepreneurial ventures, is truly a special individual.  I believe he will do great things in, and for, Jerusalem.  If there were more politicians worldwide like him, I believe more cities would thrive financially.

If you may be interested in attending future events here at the agency, please email me and let me know.  They are excellent ways to meet business contacts.

Ronn Torossian

5WPR

Yesterday’s AdAge article, “Is the President’s PR Barrage Working?” can be summed up with the following quote: “In the past few weeks the president, along with his wife, Michelle, have easily been on more magazine covers and done more TV and newspaper interviews than Brad Pitt, Angelina Jolie, Lindsay Lohan and Britney Spears combined.”

I wonder, could a Republican ever achieve this sort of positive media coverage ? Media is biased on many topics, including business and politics, despite all claims to the contrary.   As PR pros, we should remember this as we approach outlets.  As long as Obama remains loved by the media, he will get great press.

Ronn Torossian

5WPR

wo separate postings this Monday on some of my weekend reading:

1: As 5WPR continues to achieve success, we have at times second guessed our policy to not enter any of the awards programs offered by the industry (other than rankings awards which simply require us to submit tax forms – fastest growing, INC, etc.).  While I do understand arguments about recognizing staff for great work, I have always been concerned about revealing our successful, creative initiatives to competitors.  Additionally, these awards are tremendously time consuming and expensive.

We are proud that we have achieved success without having a stand-alone marketing or new business department for 5WPR, so I found this AdAge article about the tremendous cost of these programs quite interesting.  This survey further validated my decision to not have our NY PR Firm enter these programs.

2:  I also found the Best Life article on one of hip-hop’s greatest entrepreneurs, Jay Z, to be great reading.  The “mainstream” business community often doesn’t recognize the positive attributes that the most successful hip-hop entrepreneurs bring to the business community.  Jay Z’s business principles outlined here are a must read.

Ronn Torossian

5WPR