Tony Miller, Partner at Noteya Innovations, shares our perspective on the strategic importance of press releases and company announcements.
What is your perspective on the value of a well-crafted press release?
Every company across the technology ecosystem — from vendors to channel and go-to-market partners to end user organizations — needs to make announcements in order to broadcast growth and support their corporate initiatives.
Press releases have traditionally been the main communication vehicle for making formal corporate announcements. However, today there are many other valuable communication channels to also consider.
Press releases should be targeted at not only at journalists, but also at customers, partners, investors, analysts and even employees.
An impactful press release campaign should deliver not only influential news coverage and follow-up interview opportunities, but also create meaningful business development and sales momentum.
In today’s fast-paced digital landscape, where do press releases fit into a broader communications strategy?
The quick answer is that press releases are an integral part of any corporate communications plan and one of many communication channels that should be utilized.
From our experience, press releases are a good fit for formal corporate announcements, such as the availability of new products and services, the signing of agreements with customers and partners or the completion of other similar company achievements and milestones.
However, not every company announcement requires a press release.
Examples include welcoming new staff, highlighting recent press or analyst coverage, promoting company events and even sharing a holiday greeting.
Each of these examples can be considered a company announcement and the campaigns to support these types of announcements usually revolve around LinkedIn and other social media posts, web site content and email-based outreach.
For these types of announcements, a press release offers no added value and would actually be inappropriate.
What strategic purpose do press releases serve when compared with more immediate channels like social media?
Every company announcement needs to be supported by a carefully planned and executed campaign. This applies to both formal corporate announcements that revolve around the distribution of a press release and casual company updates shared on social media.
At the base of each campaign is a set of marketing assets, including the content, possibly quotes from internal and external sources, and supporting images. Other elements of a successful announcement campaign include effective distribution to and engagement with target audiences.
Press releases, social media posts and direct emails are common examples of distribution channels, while journalist outreach is a typical example of engagement with a target audience.
How much weight do journalists still place on press releases as an information source?
The truth is that journalists are inundated with press releases and pitches from technology vendors on a daily basis. Journalists are more responsive to announcements that are well-written and outreach that is easy to understand. At the same time, journalists are quickly turned off by announcements that overuse marketing superlatives.
What separates a press release that gets traction from one that simply creates background noise?
A meaningful press release allows the reader — whether a journalist, sales channel partner, potential customer or investor — to quickly understand what is being announced and the benefits or strategic importance of the announcement.
A quote from external sources, such as a customer, analyst and other relevant third party, always adds significant value to a press release.
Our advice is that the structure and content of a press release should be straightforward and easy-to-understand. Alternatively, press releases that contain too many marketing superlatives and lack a logical flow of information will not generate the intended responses.
You mentioned that the audience for press releases has expanded. Are you seeing tech vendors tailor them more toward media, investors or potential partners?
Press releases and other types of announcements are opportunities for companies to facilitate engagements with the important players in their markets and support their corporate initiatives.
An impactful press release — one that is well written and properly distributed — can lead to influential news coverage and attractive follow-up interview opportunities.
We also see that emerging technology vendors also use their press release announcements to facilitate interactions with potential and existing investors.
Similarly, the sales channel partners we work with around the world rely on the press releases and other company announcements of our technology vendor clients. These business partners — many of which are system integration firms, value added resellers and managed service providers — always tell us that they use these announcements to engage with their potential end user customers and move forward the sales opportunities they are pursuing in their local markets.
What role should distribution play in maximizing a press release’s visibility?
Press releases are much more than just the page and a half of text describing a company announcement. Finalizing the content of an announcement is in fact just the middle point of the overall press release campaign.
Good press release distribution can lead to influential news coverage and important follow up interview opportunities. For this to happen, there needs to be an effective outreach to relevant journalists well before the press release is distributed.
Good press release distribution can also generate valuable business development and sales momentum. In addition to journalists, a company should also send its press releases to its customers — both existing and potential — as well as its sales channel and technology ecosystem partners. This outreach can trigger new business opportunities and move forward sales opportunities that are in process.
Beyond media coverage, what impact can a consistent press release program have on sales and business development initiatives?
A press release is an excellent opportunity for a technology vendor to interact with its network of customers, partners and investors.
Formal briefings or casual conversations can be scheduled with customers, sales channel partners and technology ecosystem partners to introduce the topic of each press release. For example, for a press release announcing a new product or technological capability, demonstrations can be scheduled with customers and partners as part of ongoing account management activities.
This type of ongoing initiative with each press release can generate new business opportunities, move forward sales opportunities in process and even wake up sales processes that have gone dormant.
This area of business development and sales promotion is unfortunately often overlooked by the marketing staff responsible for press releases and is a missed opportunity.
As communications continue to evolve, what does the future hold for press releases?
Press releases will always be relevant, especially for formal company announcements.
There of course will be additional channels to consider that will also add value to the communication and distribution of company announcements.
Companies that invest the right resources to correctly write and distribute press releases can turn these company announcements into powerful campaigns that support not only marketing, but also sales and business development.
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