Media & Communication: 3 Ways to Drive Higher ROI from Press Releases

We create well-written, extensively-edited releases. Creating a concise release is challenging and time-consuming, often requiring input from many. Solid facts and relevant quotes make for a more effective press release because they simplify the reporter's job.

If you want to drive more value from press releases, consider the following:

#1: Make Press Releases Part of a Smart Media Strategy

The key to unlocking the potential of press releases is to embrace them as a tool in the PR toolbox, and not a stand-alone PR strategy. The latter is a common practice that tends to result in disappointment and money down the drain, because in the vast majority of cases, the news in a law firm's press release won't garner any significant coverage, or any coverage at all, without a good deal of accompanying effort. The typical journalist rarely sees, much less pays attention to, a particular release issued over the wire even if it's relevant to their beat. The number of press releases law firms issue are too numerous, and reporters — who these days may be required to crank out multiple articles a day — are too busy.

Unless a company is publicly-traded, press releases distributed over a newswire don't tend to result in media coverage. Direct one-to-one media outreach is necessary to draw attention to the announcement. Well-conceived outreach also aligns the announcement with the reporter's specific interests. The additional work doesn't guarantee coverage, but it does improve the probability of coverage over time.

Before running the release over the wire, make sure the associated media list is targeted appropriately and up to date.

Meanwhile, you may also want to consider offering an exclusive to a reporter at a top target outlet, giving her advanced notice of the release and news, and a chance to conduct interviews in advance of the newswire drop. That way, your story appears concurrently with the broader distribution.

As soon as the exclusive hits, pitch wide. Follow up with top targets by phone (yes, phone) and everyone else by email 24 – 48 hours later.

Finally, the timing of a press release isn't everything, but it matters greatly. We recommend running announcements over the wire on Tuesday or Wednesday because on Monday reporters are inundated with announcements, and their email inboxes are stuffed with pitches and press releases that arrived over the weekend. On Thursday, reporters are trying to get as much done as possible because they know on Friday their main objective is to start the weekend. The worst time to issue a press release is when a reporter is most likely to be distracted.

#2: Use Press Releases to Help Build Media Relationships

The value of media relationships can't be overstated. They take time to develop, but you'll do a more effective job of building those relationships if you stay on the media's radar with a steady stream of news. (Tip: consistency is more important than frequency.)

Newswires don't help build relationships; outreach does. For example, last year, a reporter we work with was building a top-25 list from a universe of possibilities. Some companies were chosen over their competitors because their PR reps had been reaching out to her for several months or a couple of years. The reporter doesn't cover news, but her familiarity with the qualifying companies' continuous momentum simplified her task.

#3: Tell Your Story More Effectively

Considerable thought goes into an effective press release. Its points are clear and well-articulated. The purpose of the press release should align with a business purpose such as: “We want to announce the opening of our London office to demonstrate our growing international footprint;” or “We want to announce the keynote a senior intellectual attorney partner is giving at a major biotech conference to demonstrate our serious commitment and thought leadership in this sector;” “We want to announce this impressive merger our M&A team just closed because it's in a field that represents an attractive growth opportunity.”

Different types of press releases announce different types of news momentum, influence and expertise, respectively. What you announce, when and why should be driven by your business objectives. The process of developing a press release can help clarify your thinking about what you want to communicate and why you want to communicate it.

Focused, strategic thinking helps you tell a better story everywhere, whether you're speaking at a conference, meeting with a prospective client or trying to convince an attractive candidate to join your firm.

The Bottom Line

Press releases are simply a tool you can use to market clients more effectively. PR firms and consultants tend to be a wise investment over the long term because it's their job to understand what works, what doesn't and why. With their help, you can focus on what matters, which is building the business, serving clients and getting results.

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Nicholas Gaffney, a member of Marketing the Law Firm's Board of Editors, manages Zumado Public Relations, and can be reached at [email protected].