Hi Imedia, thanks for explaining your situation. Hopefully I can be of help:
Inbound link profile
1. In terms of inbound links, my concern would be the quality type of links that can be 'pulled and re-plugged'. Generally, it is difficult to do this with links that are earned or naturally given, as they usually only relate to one client and assets and resources that client has (great web design, awesome guides, white papers, blog posts).
I would focus on first ensuring that the back link profile is natural and correct. Here is a great guide in my opinion to removing poor links and disavowing them. Remember to always first contact webmasters and request irrelevant and low quality links removed first. Google wants to see that you have acted on links.
2. If you want to rank in Google Local: Build local citations. Darren Shaw from Whitespark has plenty of fantastic knowledge published on the Internet and on his blog. Mike Blumenthal is also highly qualified in local.
3. I would recommend staying away from anchor text in press releases altogether. My take on press releases is that the value of the link is really directly proportional to the quality / newsworthiness of the story itself. Great stories are shared and linked to, improving the social signals and engagement signals and inbound links to that piece. Using exact match anchor texts in press releases is probably not necessary and might be working against you because it makes it more difficult to assess over-optimization issues if they happen.
Try and ensure any exact match links are in natural, editorial content, so that you can try to rule out which particular pieces might be counting for and against you when diagnosing over optimization and position drops.
4. Also linking internally with Exact Match can do double damage to rankings if particular thresholds are reached. Because Google updates its complex algorithm a lot, it is difficult to understand what those thresholds are. You might consider utilizing a different internal anchor text in this situation and testing it over a long period. You might also consider changing the press release link if possible. However, it is important to understand that changing links can also send signals to Google that can cause ranking flux (commercialize anchor, effect in SERPs, change in anchor = another net change)
A safe bet for internal links is to rarely use exact match internal anchor text, and opt for natural text, mixed brand and mixed commercialized text, and anchor to text that isn't commercial at all (click here, buy it here, learn more here) Focus on building internal links that are driven from content within the website that is well linked to.
In my opinion this also should apply to inbound link anchor text profiles as well, but you will want to study the top 10-20 competitors in this niche (with a close eye on 1-2-3) in order to better understand both individual and aggregate anchor text usage.
Hope this helps!
-Todd