A tool for building firm recognition and credibility.

• Author: Rozycki, Lisa A.
• Position: Press releases

Well-written press releases can help a firm establish its place in its market. Here are some tips on when and how to use press releases to publicize your firm's accomplishments and capabilities.

The press release is the most frequently used public relations vehicle, communicating news to the public through trade journals, magazines, newsletters, Internet media and databases, associations and news wire broadcasts, when appropriate. For a small accounting firm with a limited marketing budget, a well-written press release can be an effective way to get its name in front of hundreds of potential clients. It can also build credibility for a firm in the industries it serves and the local business community.

Before writing a press release, a firm first should make sure that the subject is newsworthy. Editors aren't likely to be swayed by marketing pitches. If a press release is written like an advertisement, it will end up in the trash can, and the firm will lose credibility in the eyes of reporters and publications.

A few good reasons for distributing a press release include:

* Announcing a merger with or acquisition of another accounting firm

* Announcing events, such as anniversary celebrations at significant milestones, charitable events, and fundraising activities

* Forming a strategic alliance with a firm that provides nontraditional services; for example, human resource, information technology, or financial staffing firms

* Opening a new office or moving to another location

* Receiving awards or special honors

* Promotions to supervisory positions or a member making partner

* Releasing findings of an industry survey in a particular niche that you serve

* Offering practical guidance to potential clients

Targeting the right market

Every CPA firm invests considerable time, money, and effort in personnel, products, and services. This investment dictates that it achieves optimal coverage for each press release announcement. The message should be targeted to both horizontal markets (publications that reach a broad audience) and vertical markets (publications that serve a particular industry or service niche). You can find relevant publications at the local library or through online research. A database of media contacts should be compiled and maintained on a regular basis. When sending out a release, target the appropriate editor. If you are unsure, call and ask.

Putting it together

A press release should follow the following basic formatting...