Partnership Press Release

How and Why Write a Partnership Press Release?

Blogs 10 May 2024 18 Views

When two entities join their expertise to collaborate, innovations bloom. Partnerships hold a solid ground in the business world, a reason to celebrate, and an opportunity to grow. 94% of tech executives believe that collaborations bring innovations to their processes. When they are so important, their marketing must be gripping, too.

Businesses promote their partnerships through various techniques, including posting on social media or writing a partnership press release. The latter has gained popularity for being to the point and an effective way to get journalists’ attention. Let’s discuss how this tool is outpacing many co-branding strategies.

Business Partnerships and Co-Branding  

Business partnerships are a gripping way of driving leads and revenue. They were vital when the world revolved around print media and are still equally relevant after the digital shift. Examples of numerous brands that achieved growth through collaborative approaches are not hidden from anyone. A popular way of promoting these efforts is through digital co-branding campaigns. 

A recent Clutch report indicated that more than 70% of consumers enjoy co-branding partnerships. Another industry study suggested that such campaigns help 68% of consumers directly make buying decisions. The stats don’t lie, and neither do the press reports. When the audience learns about the collaborations from an authentic source like media releases, they become sure of the partners’ credibility and actions. 

The Purpose and Aims of a Partnership PR 

A partnership media release is a tool companies use to inform people about their collaboration. It directly goes to the media and associated professionals who post the announcement to relevant channels. The paper is an overview of the partnership terms, both companies’ input, and its benefits for the community. 

Many companies collaborate to extend their business processes or roll out a unique project. Whatever the aim, the final press release write-up directly depends on it. 

The first step to creating this type of social media press release is to clearly state if the partnership is a strategic or joint effort. For a strategic alliance, the content must highlight the responsibility of both companies. For a joint project, the PR should focus on the features of the derivative. It could also include client testimonials for reputation building. 

Press Release

Why Make a New Partnership Announcement through Press Releases?

  • It Helps Both Businesses Grow 

Partnership campaigns are noted to generate 10% higher revenue than paid ads. It is a consistent strategy for high-growth brands, prioritizing it three times more than no-growth companies. Sharing these success factors through one of the best news sources, press releases enhances their value and improves the chances of better revenue. Moreover, it benefits two or more companies in one package.   

  • It’s Longer Shelf Life Brings Unlimited Traffic

Media releases have more shelf lives than most branding tools. In a recent study, 30% of businesses disclosed that they had been contacted for digital press release months or years after the sending. 

The digital world is a life-long information bank. Anyone can deduce previous data at any time in their lives. Online partnership press releases prove to be a long-term source of visibility for both businesses. They gather attention from various industries for unlimited time.   

  • It Enhances Product Visibility 

Press releases notably enhance product visibility for new developments. Product fabrication partnerships can benefit in many folds from these branding tools.  

A carefully written PR can attract potential investors for the project. It can uncover new roads to more innovative products as more companies pitch their ideas to participate in the campaign. It eventually enhances funding opportunities and the latest approaches. 

What’s an Ideal Partnership Press Release Format?

Partnership press releases don’t follow a completely different structure, yet they have some must-haves that separate them from a general media release. For one thing, these PR types mention quotes, definitions, and specifications from both companies. They also include two boilerplates and media information, one for each partner. Key elements of such press releases involve the following: 

1. A Comprehensive Heading 

Till now, we have focused on writing engaging and suspenseful headings. However, the headline should be detailed for these press releases, clearly mentioning the kind of partnership and the name of both companies. Now, this does not imply that it must be boring. Keep the engagement alive by listing the perks of the partnership in the second half of the heading. 

The company’s name that distributed the announcement should appear first in the headline. If one brand is famous and more significant than the other, it’s better to mention its name first.  

2. Lead Paragraph 

The first paragraph, comprising no more than two sentences, should state the basics of the partnership, mentioning:

Who = Both companies’ names 

What = Type of partnership

Why = Benefits/reasons of collaboration 

Where/When = Date and location of announcement  

3. Follow-up Paragraph

The following para should comprehensively decode the W answers. Define how the partnership came into being, what kind of projects/ tools they are collaborating on, and how the announcement will modify the capability of both parties. 

4. A Descriptive Body 

In the remaining press release paragraphs, include descriptions and unique offerings of both companies separately. Add quotes from executives/CEOs of Business 1 and Business 2. The best practice is to quote exactly in the said person’s words. Ensure it complies with the company’s aims, existing partners, and liability factors. Round up the announcement in the ending paragraph and conclude with an empowering Call to Action (CTA).

5. Boilerplate and Contact Information

Make sure to include the ‘About’ of both companies in the boilerplate. Add external links to their official web pages, specifications, and industry-standard practices. 

Similarly, state media contact persons for Business 1 and 2 with their names, designations, contact details, and any digital profile links.  

Partnership Press Release Examples:

Cohort Max Joined Tech Tehwaar 5.0 as an Official Media Partner

Mascap Teams Up with Shufti Pro to Elevate Security and Trust in Investment Management

Partnership Press Release Template

Writing a press release for a partnership announcement between two businesses requires carefully observing both parties’ specifications. It must be comprehensive and involve the best data sources, as the reputation of more than one organization is at stake. Let’s picture this PR format into a universal template.

template

The Best Ways to Distribute Your Partnership Press Release

Even when your perfect partnership announcement post is ready, it won’t bag the impact it deserves unless the distribution process is correct. The right journalists and publishers are vital to making this collaborative story the talk of the town. After all, professional publishing can boost your brand visibility 50% more than DYI postings. 

For one thing, you can start with media databases and search for journalists interested in your topic. Personalize your pitches and attach press releases through emails. An even better way is to hand over the research and publishing responsibility to expert PR distribution firms like Pressconnect.ai. 

Craft Your Business Partnerships Today With PressConnect.ai 

Every successful press release undergoes a series of storytelling and strategic messaging elements. It increases the authority of a business announcement, gaining more chances for visibility. However, the initial requirement is to communicate your partnership through concise press releases.

If you are ready to illustrate a remarkable brand image through co-branding, Pressconnect.ai is here to help. We create captivating partnership press release campaigns targeted to reach the maximum number of eyes.