PUBLIC RELATIONS: VALUE, PRICING AND HARD WORK !
Here are some thoughts I have at the start of this Friday, the end of a long week at this NYC based Public Relations agency:
· NYC just isn’t the way it used to be. The city doesn’t exude the same energy. The once crowded streets are seemingly empty in comparison to just a few years ago. Even 2 weeks post 9/11, it was more vibrant. But, this recession has taken a toll on people. I hope it will return back to its original grandeur one day, but it has a long way to go.
· The media business continues to evolve and change. The number of reporters being fired and laid-off means traditional media is even harder for public relations professionals to secure. Now more than ever, my staff spends more time targeting the appropriate journalists and media outlets. Regardless, my firm continues to succeed in obtaining results for our clients. We work harder and take more chances to ensure this success.
I am an avid reader and often have 3 half-finished books laying around the house. This weekend, my plan is to finish, “Crazy and In Charge: The Autobiography of Abe Hirschfeld”, a gift from my client and friend, Elie Hirschfeld. It is an enjoyable read that I highly recommend it to anyone in PR, promotions and marketing.
Like many other small business owners, we are more conservative in how we run 5WPR this year. As such, we don’t have the same amount of time to spend chasing RFP’s or new business leads as we used to. We are hired for our focus, creativity and results. I was amazed to read of Sir Martin Sorrell’s comments regarding a recent “36,000 page RFP.” http://www.marketingdirectmag.co.uk/news/944614/Sir-Martin-Sorrell-free-agency-pitches-wont-cease/
It’s simply amazing. We compete against agencies that spend thousands upon thousands of dollars to win business and we simply can’t and don’t do that. We do amazing work, but as I have now learned, winning the business and servicing the business are 2 distinct things.
I will close with a great line that a friend, who is a lawyer and also in the service industry, told me yesterday about a prospective client he turned down. “The worst clients are those who know the cost of everything, and the value of nothing.” We don’t want to be the lowest price Public Relations agency, and we aren’t. PR firms price all over the board, but those of us who do great work, charge for it.
Happy Friday!
Ronn Torossian
