What too many PR pros fail to understand is why they are hired.  Real businesses utilize PR firms in a strategic manner to make more money.  A great story is a means to an end, but not the end-all-be-all.  Especially during difficult financial times, marketers need to utilize media and press to make our clients matter.  This means securing articles which push certain viewpoints or products, not intangible concepts.

One of the biggest challenges in our industry is a general lack of understanding about real business models.  CEOs don’t go to sleep at night worrying about a lack of press; they worry about stock prices, account receivables and payroll.  The best PR firms realize that utilizing the press is a tool to assist companies in achieving the bottom line.

I echo and embrace PR Week’s recent editorial, which stated in part:

The average PR pro is still not as nearly well-versed in the financial markets as he or she should or could be… Communications pros should, at the least, take business courses in college; at the most, contemplate an MBA.

While I am not advocating MBA’s necessarily, I am saying a core understanding of business principles is all important in PR today. I believe one of the reasons 5W PR has had such continued success and growth is because at the end of the day, we understand business, which is more important than understanding just PR.  Don’t lose the end goal.

Ronn Torossian

5W PR