The importance of press releases for business is known to every professional but many of them still do not know how to utilize them for various business occasions. A partnership can be considered a crucial business occasion that needs to be declared. In the world of business, it is more like a wedding announcement where the partners get introduced to the business publicly.
Introducing partners through press release distribution allows gaining more exposure while raising brand awareness for your business. It also helps to make an impact on potential stakeholders and investors in the future. However, the press release needs to write properly in order to make a lasting impression in the market. Before you get to know how to write a partnership press release, you need to know why you should do it.
Importance of Partnership Announcements
Utilizing the press release in conjunction with a business partner can help to gain a significant amount of exposure as your company will be receiving an ample amount of implied referral value from the other business partner or partners. Therefore, it can help to create a perception of your brand and business in the partner’s network, potential customers, and other prospects. It is the potential audience base that your company might not be able to reach otherwise.
Another valid reason is that when a lesser-known company manages to tie up with a bigger brand, more people get familiar with and accustomed to your business. If your partner organization is well known to people, your company is ought to look better to target audiences whom you are trying to reach via this partnership press release.
Through a partnership announcement, you are also able to communicate with your new customer base and understand exactly what can expect by aligning your values. This is a great way for both brands to leverage each other’s audience base, making it even more secure and filled with organic exposure. When it comes to exposure, strategic partnership between two organizations of different backgrounds, niches or industries can be very beneficial as it allows tapping into a whole new audience base for both companies.
The partnership can take place among various fields and the more dynamic it is, the more people are likely to get interested in your business. Therefore, businesses should make mutually beneficial strategic partnerships with suppliers, vendors, banks and other financial institutions, card companies, and many others who assure exceptional customer service. These partnerships are not only convenient for the consumers but also great for co-branding considerations and discounts for bulk orders.
How to write a Partnership Press Release
You can write a partnership press release by following the two simple steps given below.
Step 1 – The Message
Before even starting to write the press release, you need to figure out the ‘What’s and ‘Why’s of your partner and alliance. These are the elements that readers look forward to. You might already know the rule 5ws. However, in this case only What and Why are enough to fulfill the curiosity of the readers.
1. 'What'
This part should be focusing on the specific details of the agreement between the partners. Try to find the answers to the following questions such as,
- What we will do together?
- What is special about this partnership?
- What does the partnership provide to consumers?
- What is the future of this collaboration?
There could be many other questions regarding the partnership. However, you need to find and provide all the answers. The key lies in being brief, accurate, and interesting enough to pique interest among all.
2. 'Why'
This portion also explains a lot of questions that might occur in a reader’s mind. Such as,
- Why do consumers need such a partnership?
- Why was this partnership decision made in the first place?
- Why are you partnering with this other company? Etc many others.
All of these questions should be answered by both organizations which are involved. You can also include some of the questions as a direct quote within the press release that offers a sense of conversation. It is great since it breaks down the whole content for the readers as well as the journalists. As a result, they can quickly get an idea of what it is all about.
It might seem a little awful to add so much information in a single press release but that is how partnership press releases are crafted. Do not worry about the length of a press release. Make it as thorough as possible along with a unified message that shows the agreement of both parties. Instead of having two different press releases announcing the partnership with different things to say; it is always to better to proceed with a single unified PR. Both parties can distribute the common PR without diminishing the impact of the partnership announcement.
Step 2 – The Order and Format
Though you have to make the PR informative there is no need to put a lot of information that is not necessary for the purpose. After all, the press will be consisting information of about two companies and not just one. You do not require to find ideas for press release writing but understanding the order and format will be enough to embark on the journey.
1. The Title
The title is the first thing that everyone notices and both companies should be mentioned in it. Each word from the title should start with a capital letter except for the articles and conjunctions (such as a, an, the, and, but, etc). Now, the biggest question lies, which company should be mentioned first in the title?
The answer is pretty simple. The organization which is bigger or has better exposure in the market should be mentioned first. But in case both of the companies are the same in size and revenue; the company which is distributing the PR should be mentioned first.
2. The First Paragraph
This is the portion that deals with 5Ws. But you can focus on the ‘Who’, ‘When’, and ‘Where’, as the ‘what’ and ‘why’ will be gradually explained later. This is the first portion of the press release that everyone is going to read and decide whether they are going to read the whole document. Thus, make sure to craft it attractively without being too flowery. Make sure to use a direct and formal tone that makes it appear more authentic and acceptable for all. This paragraph should not include any jargon.
3. The Second Paragraph
This par graph offers some prospects and description about the new products and services and how it going to help the customers. Product manufacture and distribution details should be also provided. This is important as customers want to know whether they can use your products and services from their area. Whether it is a global distribution or a local one, all the information must be provided.
4. The Third and Fourth Paragraph
These paragraphs should include quotes that convey excitement and enthusiasm among readers while offering a fair view of the vision and mission of both companies. It should sound like both parties are eager to mention their future ventures that are going to take place through this partnership. The more positivity the PR offers, the more it is going to pique interest among the readers as well as people from the niche.
5. Final Paragraph and Wrap up
This is the final paragraph that should be offering the lingering details of this partnership which are not mentioned earlier. This is also the end of the content and so, you need to create an impactful ending that serves the purpose of the PR.
6. Boilerplate Information
Boilerplate information is a crucial element of a PR that offers all the necessary details of the company and since there are two companies involved in the partnership; there should be two pieces of Boilerplate information provided. The press release boilerplate should be given in the same order followed in the title. If either of the companies in the partnership announcement is a public company, a usual forward-looking statement paragraph should be there. In the case that both companies are publicly traded, there should be new verbiage for a single paragraph which will be added after the boilerplate.
Concluding Thoughts
This is the professional order of the elements of a partnership press release and the paragraphs can slightly differ based on the partnering companies and their common mission. While the partnership is greatly important for every business to grow, it also requires a fruitful press release distribution to scatter the news with the world and niche. Partnership announcements can be smooth, interesting, and exciting for the journalists, reporters, marketers as well as investors of the industries involved. If you are looking for professionals to craft a partnership press release for you, visit https://www.issuewire.com/writing and get your PR done at a reasonable price.
