Should You Issue a Press Release?
The press release is the most recognized tactic in public relations, dating back to the early 20th century. Ivy Lee, a public relations pioneer, is often considered the creator of the first press release in 1906, which he used to issue a statement to journalists following a Pennsylvania Railroad train wreck in Atlantic City. More than 100 years later, the press release remains an effective strategy for brands looking to engage with the public and/or the media.
A press release serves the purpose of communicating information to an external audience, often detailing corporate news items such as an earnings report, an acquisition, a new product or an investment. It often plays a more critical role in a brand’s overarching communications strategy, including investor relations and search engine optimization (SEO). However, a press release is not a one-size-fits-all strategy in public relations, and it may not always be the best way to generate media coverage. Maximizing impact requires a balance of timing and context, and an understanding of which stories warrant a press release to avoid diluting your overall brand communications.
When to Issue a Press Release
Using a press release strategically will maximize its impact within your communications strategy. It should be used only to detail significant company announcements such as new product launches, mergers and acquisitions, venture investments, and earnings reports. In some cases, significant hires or product updates can also warrant a press release, but only if it’s a high profile hire or detailing a new CEO.
Many companies default to a communications strategy centered around press releases, but this may ultimately be to their detriment. Often, when the news section of a corporate website is filled with press releases detailing everything from an award to a product update, you’ll find that there is no real correlation between those articles and media coverage. In fact, those that issue too-frequent press releases tend to have a flimsy, if not nonexistent, media presence. Therefore, it is crucial to use press releases judiciously by focusing on only the most newsworthy stories.
Press releases can also be effective tools in crisis management. When an organization benefits from disseminating information to deliver facts or clear up misinformation, using the SEO benefits of a newswire service to distribute a press release can be particularly impactful.
The Pros of Issuing a Press Release
The press release has endured for over a century because when properly executed, it is an effective communications tool. It is a vehicle for communicating critical information that either impacts or is of interest to a broad audience. Issuing a press release also supports wide distribution of consistent and accurate information from a single source. It’s a means of telling a lot of people the same thing, thereby minimizing the game of “telephone.”
Because of this, a press release can be beneficial when communicating with the press. Some journalists specifically request a release when pitched a story, because it lays out the facts in a predictable, reliable manner that is helpful to their process of writing an article.
Sometimes, distributing a press release is also a means for driving online optimization. A default option for “releasing” a press release is to issue it on a newswire, or a paid service that has an agreement with third party publishers to repost the press release on their websites. This not only expands the reach of the press release, but also gives your key search terms the opportunity to gain authority from higher-ranking sites, improving SEO.
The Cons of Issuing a Press Release
The problem with using a press release for SEO purposes is that the story does not necessarily gain media attention. A press release reposted on CNBC.com via Business Wire has not actually earned media coverage. This means that while your press release is published, it may not necessarily be seen by your target audience and have the impact that you’d like. This can also be an expensive tactic for boosting SEO, as depending on the service used, you may pay anywhere from $95 to nearly $2,000K for a single press release.
Importantly, newswire platforms are also crowded spaces. On any given day, there are hundreds of releases issued via newswire services. Releasing “news” alongside other organizations will make it challenging for your story to stand out, and there’s a big risk of your message getting lost in the noise.
Measuring the Impact of Your Press Release
Whether or not you should issue a press release comes down to the objectives you are trying to achieve. These should guide the metrics you use to measure the success of a release. For example, if SEO is your goal, did issuing the release over a newswire impact your site’s search results or authority score? If media coverage is your goal, did the release organically fuel news stories, , and was the content in the release reflected in this coverage? Or, if exposure is your goal, what size audience did your news release reach, and how much of that group is actually your target audience?
Conclusion
The press release is a time-tested component of an impactful and engaging outreach strategy. It can be used to communicate consistent information to both the public and the press when announcing significant company news, or even in times of crisis management. When appropriately leveraged, a press release can also be a useful tool for boosting SEO and building your brand’s digital reputation. However, it is crucial to understand which stories are and are not worthy of a press release to avoid diluting the impact of your overall communications plan. With this in mind, your individual goals and circumstances should be carefully evaluated when determining whether a press release is warranted. Relevant metrics should also be tracked to determine the success of a press release within today’s highly-saturated media landscape, and to ensure future communications strategies effectively reach and resonate with your company’s target audience.