Emergent literacy refers to pre-literacy skills that develop in the preschool years through informal activities such as storybook reading. It includes phonological awareness, oral language, and print knowledge. Print referencing is an evidence-based strategy that promotes print knowledge during storybook reading. Educators have an important role to play in the development of print knowledge. However, they pay very little attention to print during storybook reading. This study examined the effect of a multi-faceted online instruction (with synchronous and asynchronous components) on the knowledge of emergent literacy and print knowledge and the application of print referencing by preservice educators during storybook reading. Specifically, 25 undergraduate student participants were assigned to two groups, the experimental print referencing (PR) group (n = 12) and the comparison Questions (Q) group (n = 13). Participants in the PR group received instruction on print referencing whereas the Q group received instruction on asking inferential questions, to foster another component of emergent literacy. A questionnaire evaluated participants knowledge of emergent literacy and print referencing and a role play measured their use of the learned strategies. Answers to open-ended questions about the instruction were also collected through learning logs which were filled as part of class work. Mixed ANOVA showed that both groups increased in emergent literacy and print referencing/print awareness knowledge. However, as expected, only the PR group transferred their print awareness/print referencing knowledge to practice as demonstrated by the role play. Qualitative data through the learning logs showed positive feedback towards the online instruction and print referencing as an important and useful tool for preservice educators to have.