News and Updates from 5WPR CEO Ronn Torossian

Tag: strategy

NFL “Bully” gets one last Chance with the Bills

Icognito’s Miami Dolphins teammate Jonathan

Some have called him a bully, others say he’s just the kind of tough guy the NFL needs, but has not been kind to Richie Incognito. As Ronn Torossian explains, now the veteran offensive lineman is on what even he has described as his last chance to continue his NFL career.

Incognito has been a polarizing figure in the NFL for years. A hard-nosed player with a well-established mean streak, that reputation became cable news fodder after Icognito’s Miami Dolphins teammate Jonathan Martin quit the NFL after bullying from Incognito. While some tried to classify events as the hazing of a teammate to toughen him up, others took a much more negative view of proceedings.

Now that he has signed with the Buffalo Bills, even Incognito says this might be his final opportunity to salvage both his reputation and his career.

Recently, Incognito spoke to NFL.com, saying he had learned from his mistakes and the whole situation. “I needed to respect those around me more and I needed to realize I may find things funny that others find offensive. This whole learning process was about becoming self-aware. About becoming a better person/teammate/leader.”

According to the statement, both Incognito and the Bills are in agreement that this is an opportunity the player should consider his last. But it is also a chance to bring attention to a sensitive subject. “I want to prove to people I’m not a racist jerk. We talked about possible ways to turn this situation around and ways to impact the community.”

For a brand – and make no mistake pro sports players are brands unto themselves – hanging on dearly to the end of his last rope, Incognito is saying all the right things. It’s certainly possible that he’s always been a pretty decent guy whose previous mistakes were taken out of context and over examined. That can certainly happen in today’s voracious 24-7 news cycle. Then again, this might just be a chance to see if a guy can change his ways.

It’s an opportunity not everyone receives. Hope he makes the most of it.

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Kalashnikov Is Booming And Selling Very Well – Despite Russia’s Crisis

Kalashnikov

Russia’s economy is in a downward spiral, but that certainly doesn’t mean it’s going poorly for everyone. There is however one particular Russian brand’s continued success, despite the nation’s economic “crisis.”

In the past few months, the world has been watching Russia’s economy suffer from plummeting oil prices and sanctions. Many Russian businesses have suffered greatly as a result, but the manufacturer of the world famous AK-47 assault rifle is not having any of that. Kalashnikov is doing well, doubling production in 2014 and posting $45 million in revenue, up 28% from 2013. Better still, the company has posted a net profit for the first time in seven years. Right, and this is all happening IN SPITE OF the fact that Kalashnikov was one of the first companies hit with sanctions after Russia invaded Ukraine.

How is this possible? Well, Kalashnikov decided that, if they couldn’t sell in one place, they would look for other options. And that has paid off in spades. Instead of fretting over sanctions and a lagging economy, Kalashnikov worked on opening up new markets in Africa and Asia, pursuing regions with huge demand and insufficient supply.

Add to this strategy an already rock solid reputation for making a strong, reliable product that nearly anyone can use with very little training, and you have a sure recipe for success.

The PR lessons here are multifaceted. First, Kalashnikov was ready. They had spent decades building a solid reputation with current and prospective customers. Further, the brand always kept a close eye on emerging markets. Then, when the moment came when the risk was mitigated by the potential return, they were ready to surge forward. Because strong allows you to skip much of the sales process, the company did not suffer from the loss of business in other areas. They just stepped into new markets and thrived. Why? Simply put, they were respected, and they were prepared. What about you?

Ronn Torossian is the CEO of 5WPR and understands the power of taboo in public relations.

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Snapchat Launches Discover

snapchat discovery

Another social media powerhouse had decided to jump into the news business. Disappearing content provider Snapchat has finally released its much-anticipated news app, Discover. Discover allows media outlets to post small content snippets via the massively popular messaging app.

So, is this a case of delivering what the public wants, or is it another social media company trying to figure out what it wants to be when it grows up? Before answering that questions, let’s look at how it works:

Users tap to open a new story, swipe left to view different stories and swipe up to read more. And, ten major news sources have already bought in, including powerhouses such as CNN, ESPN and NatGeo. According to the media agreement, the ten media companies will generate new content for the app at least every 24 hours. This content will include both videos and text articles.

By connecting with Snapchat, media companies are hoping to woo younger audiences who are moving from traditional print and TV media in droves.

The question this move begs, though, is not will younger people connect. Instead, the real question is two-fold: First, what sort of content would grab the attention of Snapchat users. And, second, do Snapchat users want news from their favorite selfie app?

Sure, Snapchat’s motivation for pretending they do is clear. The company has to justify its multi-billion-dollar valuation. Tough to do when your chief “product” is middle schoolers swapping disappearing pics with their crushes. But the company has a big hurdle to overcome if they want to engender buy-in. They have to explain how their product isn’t Twitter. Sure, more young people are gravitating toward Snapchat and Instagram, but that doesn’t mean they want to get their news from these forums…or even that they want “news” at all.

But that apparent lack of a market has not stopped social media sites and apps from attempting to lure an “underserved” demographic into their ranks. And, if you look at their marketing push, Snapchat does make a good case for this move. Here’s a quote from their blog announcing Discover:

“Social media companies tell us what to read based on what’s most recent or most popular. We see it differently. We count on editors and artists, not clicks and shares, to determine what’s important…”

That sounds terrific, but what if those “editors and artists” are out of step with what Snapchat users want? Will Discover morph into yet another Buzzfeed clone?

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Leveraging Facebook Effectively for Your Brand

ronn torossian facebook

Growing a modern business and brand requires more than traditional methods of marketing and advertising. Understanding how to implement and utilize social media including Facebook is essential for growth today. Using a few tips and tricks can help to ensure you are on the right track for any campaign you have in mind for your brand with the use of Facebook.

Create a Branded Page

Registering a Facebook page for your brand is a quick way to help others contact and locate more information about your business. Maintaining the same URL, name and look for all pages along with your official website is essential to gain trust and a positive reputation from followers and potential customers.

Use Updated Imagery

Using well-designed logos and other images to capture your products, services and brand as a whole is also essential when looking to leverage followers and the number of users on Facebook. The more visually appealing a brand is, the easier it becomes to attract new sales and generate leads from those who are genuinely interested in your business and what it has to offer.

Posting Consistency

Consistent updates are key when looking to use Facebook effectively while building a brand whether you are launching a start up company or looking to take an existing business to the next level of growth and success. Create a posting schedule to ensure your visitors do not go without updates and new content. Sharing relevant, unique and interesting content published by your brand is also beneficial as it provides potential customers with additional reasons to trust and stay loyal to your company.

Utilize Facebook’s Ad Platform

Getting familiar with the ad platform offered by Facebook is also necessary when you want to reach an extended target market or demographic. Facebook’s ad platform gives individuals the opportunity to choose the market you want to reach while also adding specifics of age, gender and location to guarantee you are hitting the mark once you choose to run the campaign and launch your ads live.

Taking the time to learn more about Facebook and its advertising methods is a way to not only gain insight into your brand, but also into the audience and demographic you want to reach. The more you understand your target consumers the easier it is to begin building the solid reputation and credibility you need to reach higher levels of success in any industry.

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Companies Must Share Financial Plans and Successes

Companies Must Share Financial Plans and Successes

We live in an information age and companies should learn how to use that to keep their markets up to speed regarding financial plans and successes experienced by their company.

Each company should address issues specific to their industry as they report to customers, investors and the market in general. Doing this while conveying the unique nature of your company’s vision and mission is a way to make your company leap ahead of the rest of the pack.

Just remember to include your employees in the process. Some of the best press is the positive things your employees have to say. Keeping the working environment upbeat and aware is a great start to building a strong and reliable face with your consumers and in .

As your company introduces a public scorecard with financial plans for investing, as well as providing the story of successes you have had recently, will provide a panoramic view of your strategic goals. Showing where you are directing your efforts to accomplish the company’s vision will allow others to feel your success is part of their success as well.

Providing information in real time instead of waiting for quarterly or annual reports keeps your products and services before the eyes of your market. This allows your business to catch the heart and imagination of those looking for the same future you believe in and are advancing with your company’s efforts.

Taking this opportunity allows you to check and double check where you stand in regard to goals set by your company. Reporting new relationships with businesses or charities that foster the same goals or supporting events related to your company’s vision will help to accomplish those ideals. They may also be of interest to a wider section of the public than you might otherwise attract to your services and products. Participation becomes easily reportable on social media sites with both quick blurbs and longer articles. Pictures or catchy but appropriate captions can move public awareness of your business quickly if done well.

Current statistics show that various social media sites such as Pinterest, Instagram, Facebook and others are changing the world’s way of purchasing – whether products, information or otherwise into an internet-dominant experience. Do not hold back on reporting successes and plans. Keep your name in the public eye in a positive and professional way and bask in the glow of your success and savvy understanding. Keeping your company in front of those who are most interested in your causes will strengthen your organization’s capabilities for growth and interests unique to your brand. This creates competitive advantages that maximize your company’s value.

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The Future of the Workplace

workplace in 2015 ronn torossian

Read just about any business journal, and you are bound to find articles extolling the virtues of the workplace of tomorrow. What it will look like, how it will work and what skills will be needed to make your mark in that environment. We’re not “there” yet, and if we don’t do better today than yesterday, we may not be around for “then.” With that in mind, let’s take a look at three current business trends and what they could mean for you.

Big Data will Continue to Transform HR

Human Resources need not be what it once was. Big data analytics are leading to some incredible breakthroughs in hiring decisions, employee retention, enhanced workflow and efficient internal infrastructure. Decisions that were once “gut calls” are now being made by complex and accurate analytics – and to great result. Ignoring this trend and its potential benefits will assure that you are far from the head of the class at year’s end.

Tech Changing What is Done and How We Do It

For decades, the main focus of technology was on what work machines could do and what work humans should do. As more machines and technology moved into work environments, humans began doing different jobs. Today, technology is allowing those same people to do the same jobs in better ways. Business is becoming more efficient and more profitable across a wide spectrum of market segments. Of course, there are still those who refuse to adapt. And, like anything that cannot adapt, eventually, it will be replaced by something that can and will.

The Line Between Work and Home is Blurring

Forget everything you are thinking right now about telecommuting and working from home. That’s last decade’s “new thing.” We’re talking here about the fading line between work and home. With smartphones and other web-connected and app-enhanced wearables, nearly all of us have productivity at the touch of a button. We can check work emails in the line at the grocery store. We can answer messages and do research waiting in line or at traffic lights. We can read memos and check reports while watching TV at home. With no firm barriers between work and play, the way we do what we do is forever changing. As are the expectations. Remember when people had “office hours” and never responded outside them? Those days are over for good. A trend that will soon become an expectation.

While not all of these will apply to you, and, certainly, none of them can guarantee your success, ignoring these trends will definitely handicap your ability to succeed. Regardless of what tomorrow holds.

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Difference Between Raising Money for Private & Public Companies

All companies need capital to survive. However, there are differences between raising capital for a private business versus raising funds for a public company. While all methods or raising money may have potential pitfalls, some methods are better than others depending on the type of company raising the funds. Let’s examine how a company can raise funds and what the pros and cons of each method may entail.

The Difference Between Raising Funds for a Private Company and a Public Company

Typically, a private company is going to ask for funds in return for an equity stake in the company. In other words, private investors are going to buy a stake in the company in return for the funds the company needs to operate and expand. In a public company, funds may be raised through the sale of stock, which gives each shareholder partial ownership in the company. Owners of private companies may also fund operations through personal loans, personal savings accounts or loans from family members and friends.

Pros and Cons of Raising Money for a Public or Private Company

When a public company sells shares of stock, ownership shifts from the business owner to the shareholder. However, going public may be advantageous as it adds prestigious and credibility to your company. It also shows that your company will be around for the long-term.

When a private company asks friends, family members or outside investors for a loan, it could create tension if the company doesn’t become profitable. This is why it may be a good idea to use personal funds to get the company to a point where there are sustained revenues and a proven concept that can grow into a profitable business.

What are the Best Methods for Raising Funds for a Company?

There is no single right answer to this question. For startup companies, it may be impossible to fund operations without a personal loan or a loan from friends or family members. In some cases, it may be impossible to grow a business in some industries without the right connections. In that case, having a well-connected investor is all buy a necessity even if it dilutes the owner’s equity in the business.

All companies need funds to survive, and those who have the money have the right to ask for that money back or for something in exchange. Therefore, you have to look at your business model and come up with a plan that funds the company without giving up too equity or other opportunities to make money in the future.

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What Is A Reddit AMA?

reddit ama ronn torossian

The popular social networking website Reddit allows users to write messages in response to a submission by another user, known as a post. Reddit is divided into several categories called subreddits. One of the more popular subreddits, /r/IAMA, has over 7 million subscribers and averages nearly 12,000 concurrent readers.

An Ask Me Anything (AMA) prompt is a way for an organization to interact directly with its user base. An organization registers a username and creates an AMA, which prompts users to ask questions about the organization.
Questions can include what the organization does, how it handles its day-to-day finances, how it deals with competition, or approach mundane topics such as what brand of butter the organization stocks in its kitchen. An AMA is an open invitation to the community to ask whatever it wants, however it wants.
Some of /r/IAMA’s most popular submissions include prompts from Barack Obama, Bill Gates, Arnold Schwarzenegger, Larry King, Bill Nye, Stan Lee, and Al Gore. In the case of Barack Obama’s AMA, there were a total of 23,907 comments and 5.28 million page views. Businesses make up almost 6% of the top 500 AMAs, with actors/entertainers leading at almost 16%.AMAs can provide a way for businesses to differentiate themselves from competitors. Rather than having to identify and target marketing points, a business can use the AMA format to learn what customers care about directly from the customers themselves. Not all AMA questions have to be answered; the Reddit platform allows users to sort comments by popularity, making it easy to separate serious questions from some of the sillier or more abstract questions. This is accomplished through a rating system where users vote on a comment or prompt, either approving it (upvoting) or criticizing it (downvoting) based on the nature of the submission.

Marketing through an AMA requires some initial exposure to the culture and atmosphere of Reddit. As of July 2013, Reddit’s largest demographic consists of young white males aged 18-29. Reddit users are somewhat less susceptible to traditional advertising approaches, instead preferring a more casual approach with genuine responses instead of generic pre-planned (or “canned”) responses. The benefit of Reddit’s comment system is that it doesn’t require immediate responses, allowing businesses to identify trends in user comments and formulate responses that will best answer a user’s question.

Creating an AMA is a fantastic way for businesses to gain direct user feedback without a significant time or monetary investment.

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Fallout from the Hack on Sony Pictures

ronn torossian update

The furor over Sony Pictures being hacked may die down during the next few weeks, but the ramifications of this incident are huge. Aside from having a long term impact on movie companies, the Sony hack should be seen as a cautionary tale for any major company. If anonymous hackers can infiltrate a company as prominent as Sony, there is no reason why other major companies cannot be future targets.

Protecting Data

The most important lesson to learn from the Sony hack is data protection. Whatever data protection and encryption tools Sony used were not sufficient. Not only was their data breached initially, but it is believed that the hackers had access to this data for many days.

Even if major companies cannot completely protect their data from hacking, there needs to be better safeguards in the event of an infiltration. If Sony had better defenses in place, they would have been aware of the hack almost immediately. Instead of stealing gigabytes worth of valuable data from the company, the hackers may only have gotten access to a few important documents.

Handling the Fall Out

Both the international media and Sony as a company have a lot to learn from the fall out following this hack. Instead of condemning the hack and protecting the values of privacy, the mainstream Western media took full advantage of this hack. Every bit of information released by the hackers was analyzed by the media, with news stories filtering through every day that damaged Sony as a company.

Instead of doing the hackers work for them, the media should place a future ban on making news stories out of company data that is acquired illegally. Since none of the information released posed even the slightest threat to national or world security, there is no moral justification for the media running those stories.

Sony’s Role in the Fall Out

By refusing to release “The Interview”, Sony played right into the hands of the hackers who attacked them. Multi-national corporations should never bow down to the demands of hackers and terrorists, even if the matters at hand seem trivial. Refusing to release a blockbuster movie may seem irrelevant to some people, but the outcome means that the hackers got what they wanted.

The moment Sony confirmed they were not releasing “The Interview”, hackers around the world discovered that they could blackmail companies and intimidate people.

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How to Optimize your Site for Maximum Holiday Sales

ronn-torossian-holiday-marketing

When the holiday season is about to kick off, it is important to have your own unique sales and marketing strategy for your e-commerce website. Seasonal shoppers spend massive amounts of money to buy gifts for their family, friends and colleagues. The only way that you can attract these generous consumers is to optimize your site so that holiday shoppers can find your store and spend some of their Christmas budget on products that you sell.If you are not sure exactly how you can optimize your website just for this merry season, here are tips to consider.

Add Festivity to Your Landing Page

If you want your landing page to trend, you have to incorporate what is trending on the page. By temporarily changing your landing page to add festive images, image titles, meta tags and on-page keywords that are frequently searched for, you can improve your ranking on search engines when consumers type in an organic and common holiday keyword. Using a Keyword Planner, like the one available with Google, can held you research the most searched keywords so that you can optimize your landing page efficiently until the new year comes.

Choose a Graphic Design That Captures Attention

If your web design is not up to par with the web designs you can find on other optimized e-commerce landing pages, your visitors are not likely to stick on your page. If you want to extend the period of time that your traffic stays attentive as they browse your selection, a holiday-themed web design is key. Choose a color scheme that is festive, create different tabs that look like icicles or holiday lights, have reindeer and ribbons scroll down the page focusing the eye on the best-sellers, and rename some of the categories to be seasonally appropriate. By lightening the mood and giving the shopper a great experience, you can build trust and improve your sales in the process.

Get Ready to Roll Out Holiday Marketing Campaigns

Marketing is off-page optimization and it is a must if you want to be found in the midst of the millions of stores that are on the world wide web. Seasonal campaigns are all about offering discounts and promoting these discounts on the right platforms so that your target audience will see what you are communicating. Make sure you have clever but straightforward calls to action on your promotional copies, choose a platform where your followers will be social, and direct traffic to your site for the sale.

Christmas widgets, social media, holiday mobile apps and bulked up bandwidth are all considerations you cannot overlook. Be sure your site is ready for the influx, choose an eye-catching design, and attract the maximum visitors so that you can close the maximum number of sales.

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