Overview Of Business Model
A press release is a statement or article about a particular company, its products and services, or a significant event involving that company that is considered newsworthy. It provides the press with the background information needed to develop a formal story. Positive coverage by the press is like free advertising. In fact, it can be more effective than advertising because press coverage is seen as unbiased by consumers.
Many companies do not have the internal capability or personnel capacity to develop appropriate press releases on a regular basis and look to outside firms or individuals to develop them. If you have an interest in writing and earning extra money from home, then this may be the ideal job for you. You can gather all necessary information from the client company to write a press release for them. You would earn your revenue by charging a fee per press release. A common fee falls between $200 and $250.
Press releases have a standard format. Experience in developing press releases according to this format is essential. Press release distribution experience would be an asset. Prior journalism knowledge or experience would also be an asset. Some knowledge of HTML would be of benefit to you. Companies may want their press release to be designed as an interactive press release that they can include on their site with active hypertext links—this could give you a competitive edge over those press release developers without this skill set.
Cost To Start This Business
Initially you will have to pay for the design, development, and hosting of your Web site, computer hardware, computer software, a scanner, and a printer. If you currently have some of these items, your initial start-up costs will be reduced accordingly. Other costs that you will incur are related to the promotion of your Web site. Estimated cost is $3,000 to $5,000 to start.
Number Of Employees Needed To Start
When starting a business of this nature, you would not need to hire additional employees. You could very easily operate this business on your own.
This business offers some international potential. However, a majority of your clients will be based in your immediate area or within the same country.
Important Business Issues To Be Addressed
Presentation is very important, so you must follow standard press release formatting procedures. Also, the timeliness and newsworthiness of the information being presented is important. To write an effective press release, you must understand the product or company you are writing about.
Online Marketing Techniques
- Develop a viral marketing strategy where people can “Tell a Colleague about This Service” via a link on your site. This will spread the word about your site.
- Develop as many links as possible from appropriate Web sites, directories, Web rings, and meta-indexes related to your target market. There are many business services-related sites that would be appropriate link sites.
- Ensure that you submit your site to the search engines and directories. Companies looking to have press releases developed will often refer to the search engines to find the sites that provide the services they’re looking for.
- Promotion through related mail lists and newsletters is important. You could even develop your own newsletter or mail list to stay close to your target market.
- Participation in cybermalls related to business services in your geographic area would be very appropriate.
In addition to your press release writing service, the next logical step to extend your range of services and to earn additional income would be to submit the press releases you write for your client to the appropriate media.
An additional way to generate revenue is to offer clipping and monitoring services. These services help companies keep track of what the online and offline press is saying about their company—valuable information for any company to have.