As was featured tonight on CBS’ The Insider, Ronn Torossian on Olympic marketing:

From Bruce Jenner to Mary Lou Retton, Carl Lewis to Mark Spitz, there are American Olympic stars who have cashed in from the Olympics – although it certainly remains hard to outshine the major sports to succeed in America. To be a true break-out star, it’s necessary to shine during your sport, but also to shine with an interesting, relatable back story.

Timing matters tremendously – anyone hoping to cash in on the Olympics needs to move very quickly or they simply will disappear. Quick – how many swimmers, gymnasts or track and field athletes can you name? Not an easy task to make money from marketing as an Olympian.

Some reflections on the big winners in terms of Olympic marketing:

Michael Phelps is a winner but to be a mega marketing superstar, he has to be more trustworthy. He will shine as expected, and undoubtedly make millions.  However, there may be some brands with lingering concerns about his party-boy perception – which wasn’t helped as he was seen leaving a club with an aspiring model the day after the Olympics.  He could be seen by some as arrogant – and would it really surprise anyone if he had a scandal in 2012?

Undoubtedly Gabby Douglas was a huge winner in terms of brand at the Olympics.  With Kellogg’s Corn Flakes & Procter & Gamble lined up, undoubtedly there’s more to come for her in terms of deals.  She got great buzz, and has an interesting family story which can score her points with potential endorsement deals.  A cute smile and she’s very young.  She will make millions of dollars before her next worldwide major stage in Rio in 2016,

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Lolo Jones has marketing potential amongst the “family-friendly” brand world.  She’s beautiful, religious and likeable.  Clearly she understands marketing as she’s already been profiled by Rolling Stone & NBC Nightly News.

Ryan Lotke will earn – but he’s still second fiddle to Phelps, although many will root for him to succeed further.

I welcome your thoughts and feedback.

Ronn Torossian

5WPR

 

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Ronn Torossian is the Founder & Chairman of 5W Public Relations, one of the largest independently owned PR firms in the United States. Since founding 5WPR in 2003, he has led the company's growth and vision, with the agency earning accolades including being named a Top 50 Global PR Agency by PRovoke Media, a top three NYC PR agency by O'Dwyers, one of Inc. Magazine's Best Workplaces and being awarded multiple American Business Awards, including a Stevie Award for PR Agency of the Year. With over 25 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected public relations executives. Throughout his career he has advised leading and high-growth businesses, organizations, leaders and boards across corporate, technology and consumer industries. Torossian is known as one of the country's foremost experts on crisis communications. He has lectured on crisis PR at Harvard Business School, appears regularly in the media and has authored two editions of his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations," which is an industry best-seller. Torossian's strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, a Top Crisis Communications Professional by Business Insider, Metropolitan Magazine's Most Influential New Yorker, and a recipient of Crain's New York Most Notable in Marketing & PR. Outside of 5W, Torossian serves as a business advisor to and investor in multiple early stage businesses across the media, B2B and B2C landscape. Torossian is the proud father of two daughters. He is an active member of the Young Presidents Organization (YPO) and a board member of multiple not for profit organizations.