Context the Evolving Press Release

The press release is an important communication device for organizations making announcements, informing shareholders of new information, conditioning markets for changes, or various other purposes that could shape a media narrative or storyline. Press releases are useful for influencing stakeholders and public's, depending on the organizational objective and recipient audience, readership, or viewership.

Even if you are not entering into an industry position focused on external communication, it is inevitable that in your managerial roles (now or later in your career), you will direct personnel to draft a press release on behalf of your organization. Thus, it’s critical to understand this communication device, its components, and its functionality in the marketplace. 

In the last few years, several nuanced changes have emerged in press releases that acknowledge an increasingly media-infused marketplace. Journalists associated with large-scale publications (e.g., Financial Times, Wall Street Journal, etc.) have millions of readers. As expected, they receive many press release solicitations every day. Thus, it’s critical for organizations to produce high-quality press releases with salient stories. Organizations often invest heavily in strategic relationship building among media entities, journalists, and industry opinion leaders who can disseminate information to large audiences. Even with these relationships, it does not guarantee that a press release will be read or utilized as intended.

Companies often strategically developed relationships with journalists, industry thought leaders, and opinion leaders with large followings to “control the narrative” and establish channels for disseminating strategic information. To optimize this control, the press release needs to be clear and usable. Meaning, the content in the press release should provide the “ammunition” that a large-scale disseminator could utilize.

Team Assignment: Guidelines

Each team will select a quarterly earnings report call (QERC) of a publicly traded company and draft a press release related to the call. The press release will cover information provided in the QERC. Pick one piece of information, a data point, or other salient information that may add perceived value in a public trading equities market.

The press release should come from the perspective of the company. Meaning, your team should draft the press release as if you serve in the company and represent their interests. The ultimate aim is to directly or indirectly impact the stock value through the strategic information offered in the press release. In drafting your press release from the position of the company, make it compelling and accurate, based on information from the QERC. The story should be relevant enough to be picked up by a major news outlet, industry “tastemaker,” or opinion leader with a large investor community, all of which can inspire confidence in the stock value. Of course, this is just a simulation that will not result in a real news story. However, professionally construct your draft as if your team worked for the company pertaining to the QERC you reviewed.

Be sure to announce which QERC and associated company you have selected in the class’s GroupMe thread to avoid any duplication. You may utilize any archival resource to access a QERC. For your convenience, a helpful resource is provide for you here: https://earningscast.com/calls

At the bottom of the press release (in a footnote or as a direct reference in the press release), teams will reference QERC to validate the press release’s content. A link to the QERC should be provided in the footnotes or citation section (if one is included) for your professor to review.

Refer to the Muck Rack slide deck provided to you (slides 22-24 in particular). This information will inform your approach when developing your press releases. You may take the traditional template format of a press release provided in your readings (listed below) but it must include at least one graphic element or media element to enliven the document (again, refer to the Muck Rack slide deck for context on why this is critical and which digital element to include). This approach acknowledges the new marketplace of digital exchanges.

James, J. (2010, November 10). How to write a press release, with examples. Moneywatch. http://www.cbsnews.com/news/how-to-write-a-press-release-with-examples/

Murray, J. (2015, June 16). How to write an effective press release. The Guardian. Retrieved fromhttp: //www.theguardian.com/small-business-network/2014/jul/14/how-to-write-press-release

The rhetoric of the press release should be “turn-key” for a journalist (i.e., ready to input directly into their story). If necessary, links or resources should be provided to offer more information or to help substantiate any information. This may be included in the document as a footnote or in a citations section if needed.

Titles of press releases should be creative and salient. Aim to write the headline for the journalist while providing an indication of the content of the press release. Press releases are typically no longer than 250 words and will answer journalistic questions of who, what, when, where, why, and how.

Below is the rubric that applies to this assignment, which is due three days after the week 3 class session at 11:59pm. Submissions should be in a Word document format. If submitting in another format due to the functionality of a media element (e.g., an embedded video only functions on the press release by hosting it on a webspace), check with your professor beforehand.