Press releases are a way to get exposure for your business by supplying the news media with raw material. Editors are always looking for news. If you give them a story they can use, they'll be glad to give your company the free publicity that story generates. Since your release must compete for attention with others, however, it should be well–written and designed to hold the reader's interest.
Many releases end up in the editor's wastebasket for lack of news value. How do you know when you have something newsworthy to announce?
You can use releases to announce a new product, an appointment or promotion, an acquisition or a major contract. A release can make a prediction, reveal new findings, publicize philanthropic activities. With a little ingenuity, you can often relate an established product to current events.
Whatever your news, try to give editors plenty of lead time. Deadlines for calendar items are often weeks in advance, and some monthly publications plan their issues months in advance.
Like business letters, press releases follow a set format:
Editors are busy people; by avoiding some common mistakes, you can improve the odds that your release will be read.
If your company does business nationwide, you will probably want to spread your news nationwide; otherwise, you may want to target a smaller area, maybe just one city. If you sell to the general public, blanket the general media. If you mainly sell to other businesses, it might make more sense to target trade publications.
As to how to send out a release, your options include mail, email, fax, and of course, news wire services such as PRNewswire or BusinessWire. When in doubt, mail is always a safe bet, as most editors still prefer to receive releases that way.
Rates for nationwide distribution through a service to all major media–newspapers, magazines, broadcast networks, wire services can exceed $600 per release. Most services also offer targeted distribution, enabling you to zero in on the editors most likely to use your story.
For those who don't want to do it themselves, there are agencies that will write a press release for you.
A press release is a very thrifty way to get publicity. Even if you pay to have one written and distributed, the exposure that results will be less expensive than with a paid advertisement — and more effective because it comes in the form of a news item.