What is the most effective way to do a press release for cheep?

If you main goal is to attract a select and targeted eyeballs.
You need to invest your time and energy on first identifying this target audience, then you can reach out to them and pitching them directly.
Email each person on your list individually with a customized your communication regarding your product - this email will generally contain much of the same info you would have had in a release but presented differently.

Make sure that you are writing your press release for the target audience. many press releases I've read use jargon and phraseology that alienates readers. Publishers often use press releases as a starting point for articles. Tell your audience exactyl what you want to communicate and no more.

Use the Social Media with all the tools provided , it's so effective , cheep , and professionalism ...