Of the many motivating factors for the use of social media press releases, there are two driving forces that stand out: The changing needs of the end consumer and increasing ease of use for the media.

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A good interpretation from the original SHIFT template
SHIFT Communications Debuts First-Ever Template for "Social Media Press Release"
While additional media and formatting improve the impact these releases can have, the real opportunity with social media press releases is the integration of SEO tactics. As a robust and "social" source of information, the social media press release is of great value, but optimizing that release from a keyword and content perspective provides a distinct competitive advantage.
Think of it along the lines of making a great looking web site. If no one can find it, it's not worth much. By optimizing the web site to make it easier for searchers to find, you maximize the medium. If you create a robust press release using social media AND you optimize for news search engines, then you've made it easy for both the media and end consumers to find your news. That's the one two punch of social media and optimized press releases.
TopRank Online Marketing, specializing in organic SEO, blog
marketing and online public relations. He's been cited as a search
marketing expert by publications including U.S. News & World Report and
The Economist and has implemented successful search marketing programs
with top BtoB companies of all sizes. Odden shares his marketing
expertise at
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