A press release is a cost-effective marketing tool for various types of businesses. It is a broadcasting channel that informs the world that your company is a mover and shaker, and it has the potential to be read by millions.
Newspapers, magazines, blogs newsletters, trade publications are examples of places a press release or info from it may appear. Its return on investment could be significant.
Consumers, industry pundits, and competitors are the typical audience, but it depends on the subject, which leads into the first question that needs to be addressed in forming a press release strategy.
Who is the audience?
every press release should have a targeted audience, and its tone should be fitting to those readers. A newsworthy topic could be about a new product or service. It could also be about receiving an industry-recognized award, announcing the hiring of a key employee, or other company-related news. Striking up a partnership or obtaining a new client would be newsworthy topics worthy of a press release.
How are you going to reach your audience most effectively?
This is the point where a plan to write a press release dies because a decision has to be made on how to get people to read it.
What are the options?
Value versus costs is a huge variable to flag in the decision-making process. There are free and paid press-release distributing services that will send out a press release for customers. However, “free” means fewer services are provided. For “free,” a written press release is loaded into the vendor’s database of contacts and e-blasted. A paid press release service offers more, such as writing and editing services and, in general, a better list of contacts. It also handles all tasks.
PR and marketing companies handle the entire press release process for larger, high-end firms that outsource press release writing and distribution. While this is arguably the most effective way of doing this, it is also the most expensive route. A lack of control also could be an issue.
Make it a DIY project.A press release can be self-distributed provided a company knows its target market and has both a list and a way of directly contacting sources, such as trade publications, magazines, bloggers, reporters, editors, TV stations, and so on, that may be interested in the release. Having a list of sources to contact would make this a DIY dream. However, that “list” doesn’t come easy. It could be a labor-intensive effort.
Purchasing a list also is an option. Buying a list saves time, but the data may not be accurate; before buying a list, inquire about its age and when it was last updated. A highly developed list of media contacts is an asset worth having. Managing a media-contact list is an ongoing project. A company’s market share and reputation could be bolstered from using it correctly.
Make plans based on value propositions.
Knowing what you want is better than being told what you need. Planning is required to determine which route would work best. There are no patented right or wrong ways, and it is possible as well to begin in one direction and ultimately do things completely differently. Begin with the basics.
Who is your audience?
Why are you writing a press release?
Where do you want the press release to be placed?
How often are you going to write press releases?
Answering these questions will help you plan your strategy.