Releasing Press in 2018
Press releases are an integral part to any company’s marketing plan. These notifications are a way for even the smallest companies, to get word out about a new product, service, or change in company policy. However, the process and effectiveness of that press–pitching procedure has changed right under the noses of companies, institutions, and public relations (PR) firms alike.
For so long, companies pitching press releases went through a tiresome and expensive process to receive return on investment (ROI). Newswire services such as, PR Newswire run customers nearly $800 for the first 400 words of press and more than $100 for every 50 words after that. Whether a company hires a PR agency to write and distribute a release or if it is handled in-house, the overall goal is to receive noticeable publicity after this investment. While this formula worked for a time, the culture of news media has become more segmented. Today, the old method that once worked, now produces results that vary across the board.
To the comfort of writers, marketing professionals, and pupils of PR: the formula for writing a proper press release has not changed. Newsworthy topics with interesting stories and educational quotes that are easy to read will always make great press pieces. However, the terms of press distribution have been altered.
Years ago, newswire services were the way to go. Companies or PR services would pay a subscription or one-off fees to have news stories blasted to the general public. Journalists and other media outlets would pick these off the wire and use them as a base or source for their story. Yet, as markets around the world grew more segmented, so did the news outlets that covered these markets. With this evolution, finding the right stories on a newswire became much harder for journalists using this resource.
“I don’t think the people picking up press releases are journalists wanting to write about that product,” said Jon Bier, founder of Jack Taylor PR. “They’re websites designed to pick up press releases so PR folks have websites to show they picked them up. It’s an industry speaking to itself.”
In reality, the middleman has been pushed aside. People pitching press releases now go straight to media platforms and individual journalists. News outlets no longer struggle to find news—it is being dropped right into their laps.
As news story supply skyrocketed, news media felt the power of their situation… Cue sponsored content. ‘Want your press releases run as news stories in our magazine?’ Publications started to ask. ‘Well, we have too many requests, but a small fee could push your story to the top.’
In 2018, businesses have turned into the journalists and newswire resources have been ousted. However, this doesn’t mean press opportunities only go to those with the deepest pockets.
As print and digital media have grown and become more segmented, interesting stories and new ideas are being presented in the form of online blogs. Instead of relying on a newswire service, journalist, or advertising subscription, businesses and people with opinions to share have begun to self-promote.
Consumers are taking to this trend as well. Overall trust in news media and government has dropped, and now, people are much more interested in getting their information online. Nearly 90% of business-to-business readers are using search engines and social media to get their news. Instead of going to FOX or ABC News to find a story about the best back patio paving stones, individuals and businesses are reading articles, blogs, and releases directly from market experts.
Information media is ever-changing. Yet, this new fact does not have to be seen as a drawback. Companies and individuals alike can now keep themselves relevant on their own terms. By creating a quality blog with interesting content, businesses can do away with the old press-pitching method and gain exposure from readers searching for information that suits the subject they’ve typed into Google.