One of the least used forms of online advertising is the humble press release, humble in that it's scarcely changed during modern times times, whether it be delivered by hand, mail, fax or posted in the web. There has been one change, though, which is one of protocol.
When press releases first appeared, they were blatantly commercial, as pioneered by Edward Bernays (named as one of Life Magazine's 100 Most Influential Men of the 20th Century). Later, they developed a more impartial tone with, nevertheless, a commercial undercurrent.
When written adhering to press release protocol and SEO, press releases present a marvellous, reasonably cheap way to get quick media attention and ongoing search engine traffic to your product, products or website. Essentially, press releases are used to alert the media about:
the launch (or continued success) of a product, business or service or
a new idea or
an occasion
...in the most newsworthy, non-partisan way:
what it is that's so interesting
when it's released or happening
why the media would want to know
how they can find out more & possibly
where people can buy it
If journalists are looking for your type of product (niche?), they may write about it and possibly even interview you.
Since the advent of the internet (and a global English-speaking press), there have been three other significant developments which have made press releases even more powerful:
1 if other websites link to your press release, internet traffic can still find it years later, long after traditional media has become disinterested in your press release
2 if those links (see backlinks) are from quality websites, in particular, that can create a long-term beneficial effect upon your site's search engine rankings &
3 if you your press release agency enables your press release to have hyperlinks going back to your site, that will also have a short term and possibly a long-term benefit from search engines traffic
There are numerous FREE press release agencies, however the grand-daddy is PR Web, which has now metamorphosed into a PAID version with quite a few products, as well. I recommend their PAID service because because it gets you:
great search engine visibility (read: Google)
inclusion into Yahoo News (providing a great backlink)
a permanent PR Web backlink
I've provided a video interview with CEO Dave McInnis plus a full breakdown of their services and what you can expect from using them
Direct Marketing guru Marlon Sanders has published a detailed conversation with Elaine Floyd, a press release guru about how to really use press releases efficiently.
Press Release Writing Tips
I've also gathered some great links about actually writing press releases: