how to format a press release and distribute?

As we get closer to formally announcing our first product offering it is time to think about how to tell the world about our goodness.  Like you we are small and don’t have the resources for a full time Public Relations firm but we do have access to a great writer who is working on a headline and a tight solid message so we have decided to go with a press release.  Why?  Because it is a standard method to get our news out to the media at a relatively cheap price point.  As we discussed this option at one of our staff meetings someone asked:

how do we distribute our press release and does it have to be in a certain format?

Good question indeed!  There is definitely a press release format that should be followed in order to ensure your release gets picked up as legitimate business news and is not confused as spam, an ‘advertorial’, direct mail piece,  etc.

Before we get into the format though just a reminder as to what is considered ‘legitimate business news’: company launches and mergers, new product launches (this could include websites, eStore, services, etc.), staff hiring or appointments, public company requirements, company information (e.g. number of products shipped, customer base growth), lawsuits or settlements, recall of products, public event, to name a few.  I can’t stress enough that press releases should announce something newsworthy - don’t waste the time of the editor with your request for shameless advertising.

FORMAT

The optimum length of a press release is between 350-700 words, with the headline being no longer than 20 words.  I wouldn’t use a sub-headline because many of the news services ignore them entirely.  The press release format should include:

1. FOR IMMEDIATE RELEASE - these words should appear in the top left hand corner of the page, in bold upper case text.
2. Headline - these words should be in bold and describe the content of your release.  Make it catchy!
3. First paragraph - CITY, State/Country (month day, year) - legal company name - these words are bold and establish the date, your physical locale, or event locale, of your news and who is announcing.  For example our first paragraph is going to start:  VANCOUVER, B.C. (September 4, 2008) -  Business Ready Solutions Inc. announced today the release of …  Note!  If you are a publicly traded company you need to include the exchange and ticker symbol in brackets after your legal name.  So, hypothetically, if Business Ready traded on the TSX Venture Exchange under the symbol BRS we would start our first paragraph as VANCOUVER, B.C. (September 4, 2008) -  Business Ready Solutions Inc. (TSX-V: BRS) announced today the release of …
4. Body - this is the actual news content.  The first paragraph catches their attention the body then provides additional information.  If there is more than one page, write “-more-” at the bottom of the page.
5. Company Information - About your company - the ‘about’ should be in bold followed by your short corporate blurb.  For our release you will see: About Business Ready - Business Ready Solutions Inc. is a privately held company based in Vancouver, BC providing …  If there is more than one company announcing information you would include an ‘about’ section for each of them.
6. Media Contact - is a contact person by name, the company or agency they are with, valid phone number, and email address.
7. Disclaimer - again this is if you are publicly traded and should cover the exchanges you are on.  So, assuming we were on the TSX Venture Exchange we would include the following in italics: The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the accuracy or adequacy of its contents. Check with your lawyers as to the correct version for your exchange.
   
8. ### - denotes the end of the press release.

The preferred format for press release submission is a MS Word (.doc) format or plain text.  Always check with the distribution service first as to what the approved file formats are and if they require naming conventions of the file as well.  I like to put my press releases on soft-copy letterhead and number them so that I can keep track of them.

DISTRIBUTION

So, you have written and formatted your press release and now you are thinking:

Who do I send it to?  How much will it cost?  Who do I want it distributed to?

There are many media distribution services.   In Canada I have typically used CNW Group,  Stockwatch (free!) and Market News (also free! just email word .doc to news@baystreet.com - it’s not obvious on their website).  In the United States try Send2Press or PR Newswire which both offer a very comprehensive package.  CNW can also handle your SEDAR/EDGAR regulatory filings.

Charges are typically by the word and for each distribution network.  Obviously some networks are more expensive to distribute over than others so make sure to get a price list!

Also, it is very important to understand when the ‘cut off’ times are and if the release can be timed or is it immediately distributed on receipt of the release.  For example, if you send your press release to Stockwatch and Market News they are immediately released when ever they receive it.  With CNW you can request when you want it to be released (e.g. when the market opens on a particular day).  For public companies, releases have to be timed so that no one investor is aware of information before others so this could be a serious consideration for you if you are public.

Distribution networks can be: regional (Canada, Northeast, West, etc.), state, city or ‘metro circuit’ (e.g. New York Metro Circuit would be NY city), or industry focus (e.g. Telecommunications or perhaps a vertical industry like Finance).  Remember: you are paying for each network so make sure to target your press release to media that will think it is relevant.  No sense in sending a software product announcement to the Tobacco network (unless your software is for this industry).  Who will we distribute to?  One release will go out over the Canadian Custom disclosure network (through CNW) and another to a US technology industry focused network.  I’d love coverage by TechCrunch.  Hah!  A girl can dream …

So, look forward to our first press release!  When it comes out I’ll make sure to update this post with the word .doc submission as well as an example of its final form (as seen by the public - if it gets picked up).