😬 Debating the press release

🍁 Welcome back and greetings from the beautiful Grounds of UVA, where I'm attending a Darden Leadership Communication Council meeting.

• A few months ago, I asked for your feedback on the value of press releases — and many of you had thoughts.

Today, we will revisit this hot-button issue and more in 1,741 words, 6.5 minutes.

Communicators have a love-hate relationship with press releases — they are aware of how ineffective press releases are but still keep writing and sending them.

Why it matters: As the media landscape evolves, so must these basic communications tactics.

Between the lines: The name of these documents is misleading because, more often than not, press releases are used for record-keeping rather than making headlines.

Zoom in: The role of the press release is to memorialize a moment in time — whether it's a funding announcement, new partnership or product launch — and make sure the basic facts are being shared and a business' momentum is being captured, says longtime communications executive Jeanne Meyer.

• "There are also financial disclosure laws which require many public companies to issue press releases. Though, there's a recognition with people who know how communications works that press releases do not make news stories," she added.

Context: That's because business bureaucracy and long internal approval processes often deliver fluffy executive quotes and a watered-down version of the news.

• At best, press releases fulfill some legal or regulatory requirement or can be used as a means to reach global reporters.
• At worst, they are a taxing way to align teams or partners around key messages.

What they're saying: "They're expensive, they're time-consuming and they're stressful," says communications advisor and founder of Two Creeks Strategies Jessica Doyle.

• "They're from a different era, but people still do it because it's institutional and there are people within companies who feel like, if it's important, it needs to go out in a press release, and sometimes it's very hard to motivate those internal clients to do something else."

Reality check: Press releases and newswire services often perpetuate the fallacy that volume equals depth.

• "Releases can actually show up in overall impression metrics. If you kill your press release, you're going to lose a lot of impression metrics. And even though they're stupid and they're not real, they still get counted by some teams," added Doyle. "So if you're moving from tracking metrics tied to press releases, you're going to have to rethink your reporting going forward."

What's next: "That core AP style press release is dead. But with just a little bit of imagination, the press release could be an energizing and impactful comms tactic," says Caitlin Kelly, founder of EZ Newswire.

• Some teams have traded press releases for blog posts, fact sheets or their own corporate news sites using Substack or Medium to reach media as well as other key audiences.
• This strategy can help ramp up a company's owned media presence, which will become increasingly important in the age of AI, says Meyer.

Plus, AI tools can help teams iterate corporate news and make it more appealing to specific audiences.

• "AI can come into play in such an interesting way, and there are different solutions that can take a piece of written content and reformat it into video or audio and then instantly get it out to the environments that are meaningful to your business," says Kelly.
• "And then having the analytics on the back end to be able to measure and iterate off of that, I think could be really powerful for sophisticated communications teams."

What to watch: More watered-down releases are popping up due to AI-powered press release generators sweeping through the commstech space.

💭 Eleanor's thought bubble: It is quite telling that generating press releases was one of the first ways communicators used AI tools.

• Which begs the question, if AI can draft a perfectly acceptable press release, is this tactic really moving the needle or is it simply checking a box?

Adweek examined press releases across PRNewswire from 2017 to 2024 and found that fluffy language like "thrilled" and "cutting edge" are on the rise.

By the numbers: The prevalence of weak words like "pioneering" has increased by 151% since 2017.

• "Industry-leading" and "passion" are up 98% and 54%, respectively.

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Earlier today, Axios Communicators Pro members were invited to join a discussion with co-founders Mike Allen and Jim VandeHei about the potential outcomes of the 2024 election and how they might impact corporate America.

• Why it matters: Communication professionals are gaming out various scenarios in anticipation of the election results and the instability that could follow.

Catch up quick: In their "Behind the Curtain" series, Allen and VandeHei examined an FGS Global report that pointed to four potential outcomes.

• MAGA momentum: Trump wins the White House, while Republicans maintain the House and flip the Senate.
  • This case would institutionalize the MAGA movement with massive consequences for governance, civil rights and international relations.
• Progressive push: In this scenario, Democrats control the White House, Senate and House and would be expected to move quickly on climate, health care and social justice reforms, and to reverse tax cuts for those making more than $400,000 a year.
• Trump's power struggle: Trump wins the election but Democrats control the House, meaning Trump would likely test new limits of unilateral action through executive orders and count on conservative courts to back him.
  • However, possibilities for bipartisan consensus exist regarding China, trade, targeted tax cuts and domestic energy production.
• Harris with handcuffs: If Harris wins and Republicans control one or both chambers of Congress, Washington would look and act a lot like it does today.
  • Frequent political battles and legal challenges could make it difficult for Harris to achieve lasting reforms.

State of play: In the run-up to November, business leaders have kept their heads down to avoid doing or saying anything that could be deemed even remotely political.

Yes, but: That isn't a realistic strategy should chaos ensue following the election and should heightened polarization continue into 2025.

• Regardless of the outcome, partisan tensions will likely increase, culture wars will wage on and corporate initiatives will continue to serve as a political football.

What to watch: In the meantime, a majority of U.S. adults say they expect American business leaders to help ensure free and safe elections, according to a recent survey by Weber Shandwick.

More below👇🏻. Plus... want to watch a recording of this conversation? Join Communicators Pro.

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Maintaining a fair election is a concern that spans political ideologies, according to Weber Shandwick's latest pulse survey.

By the numbers: 74% of U.S. adults across party lines agree that American business leaders should publicly condemn political violence in connection with the 2024 presidential election — up from 55% who agreed with this statement in July.

• Close to 7 in 10 agree that business leaders should condemn election interference and should use their influence to facilitate a peaceful transfer of power.

Yes, but: There's a greater divide among Republican and Democrats when it comes to calling on candidates to concede with 72% of Democrats believing business leaders should engage on that issue, compared to 52% of Republicans.

Go deeper

Elliott Management, known for the range of tactics it has deployed on its targets, has just added one more weapon to its arsenal: a podcast.

• Why it matters: Elliott's new podcast is aimed straight at Southwest Airlines, and it shows how far the activist investor is willing to go when it comes to pushing its slate of director candidates.

Catch up quick: Elliott launched its Southwest campaign in June, a few weeks after the airline's annual shareholders meeting, calling for the CEO and its chairman to step down, among its demands.

Zoom in: On Tuesday, Elliott launched "Stronger Southwest," a new podcast series that will feature conversations with the hedge fund's director nominees.

• Elliott's podcast strategy marks the first time an activist has used the medium in this fashion.
• Southwest declined to comment on the podcast.

The big picture: Podcasts increasingly have become core to communications strategies for a range of campaigns, including U.S. presidential candidates, tech CEOs and other individuals.

• The medium offers a friendlier and more conversational alternative to a traditional TV hit or another press interview. More professional athletes are launching them to speak directly to and connect with fans.

The bottom line: Elliott is hoping the podcast can put a spotlight on its board candidates and their credentials. Southwest's management is hoping shareholders will stand by their slate.

Keep reading with Axios Media Deals

Orchestra has acquired Small Girls PR to bring more earned media expertise to the growing public relations firm.

Why it matters: The deal supports brands' demands for communications companies to be full-service, driving agencies to acquire smaller firms, form collectives and consolidate.

Context: Founded in 2010, Small Girls PR focuses on earned media strategies, experiential, influencer marketing and media relations.

• Clients have included GE, Snapchat and Jack in the Box.

Zoom in: Blair will remain CEO and become an Orchestra partner. Its 75 employees are based in Los Angeles and New York City and will boost Orchestra's headcount to about 700.

• Orchestra CEO Jonathan Rosen says the acquisition aligns with the company's thesis that the future of communications is earned.
• "We're in a world where you can't buy audience anymore. Audiences are becoming more anonymous. We're all overwhelmed with information. It's very hard to get things to sink in," Rosen says.

Zoom out: Formerly known as BerlinRosen Holdings, Orchestra is backed by O2 Investment Partners and led by BerlinRosen co-founders Rosen and Valerie Berlin.

• Orchestra has made eight acquisitions since 2022, including Civitas Public Affairs Group, Onward, Derris, M18, Inkhouse and MessageLab. The company also owns a majority stake in Glen Echo Group.

What's next: Rosen says its biggest near-term investments include scaling Orchestra's analytics and insights team.

Keep reading

The 55-year-old cookie brand, Nutter Butter is acting #weird on social media, and consumers are taking notice.

Why it matters: This attention-grabbing strategy has also encouraged other brands to play along in the comments — as seen in one of Nutter Butter's most viral TikToks, with 7.9 million views.

By the numbers: According to CNN reporting, Nutter Butter's TikTok following has more than doubled — from 400,000 followers to 1.1 million —since last month.

What they're saying: The brand's virality is tied to its "hard-to-explain" videos that cause social media users to come up with theories in the comment sections, says the team behind the strategy.

• "I think that it's really hard to sell to people on social media nowadays. People don't want to be sold sterile posts," Nutter Butter brand manager Caitlin Bolmarcich told CNN.

Yes, but: The impact this strategy is having on cookie sales remains "a very live situation," added Bolmarcich.

Reach execs and business leaders with Axios.

We'll help you tell your story in the right way:

• We'll distill your brand's message into its most effective form with Smart Brevity.
• No clutter, no filler — just clean, smart and effective.

Contact us to learn more.

Thanks for reading! And thanks, as always, to editors Nicholas Johnston, Michael Flaherty and Chris Speckhard.

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