August 21, 2008
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Home / Issue Archive / 2007 / October #10 / Editor's Letter

№ 10 (October 2007)

Editor's Letter

If ROI Matters to You, OGE is Here to Help

I think that many of you right now are planning your advertising budgets for 2008. So, I’d like to talk a bit about “Return on Investment” (ROI).
Some clients think they measure ROI by counting phone calls they get (or don’t get) after placing a 1/8th size ad in the cheapest publication they can find. But that’s not advertising. Advertising is about frequency, mass audience reach, and building a sense of good will and name recognition for a brand. Have you ever bought a product because of a clever ad campaign that caught your attention a year earlier? Maybe a competitor’s product is of higher quality, but you bought a name you’d been hearing about over and over, months or years earlier.

Last April Eurasia Press Inc., the owner of Oil&Gas Eurasia, launched a new website and we’re currently looking for clients who are interested in combining print and digital advertising in campaigns for which we can measure performance using our various web metrics partners while at the same time judging our print circulation through our BPA Audit.  We’ve applied to BPA in fact for an interactive audit of www.oilandgaseurasia.com. That will happen in November and the results will be included in our yearend publisher’s statement, offering an overall view of our audience reach.

Let’s talk economy

On the print side of things, a BPA circulation audit can help you measure ROI because you can get some idea of the cost you are paying per 1,000 readers for your advertising. As founder and editor of Oil&Gas Eurasia (OGE) monthly, I too am building a business in Russia. And I count every penny that I spend. Oil&Gas Eurasia, which costs a bit more than our competitors, can save you money. If you visit our website, www.oilandgaseurasia.com and download our 2008 Media Planner, you’ll see in fact that an ad in OGE costs you 61 cents (US) per pair of Russian eyeballs. That doesn’t include pass along rates which require separate research. I’m talking BPA verified circulation. Other magazines can cost you on upwards of $113 (US) per pair of Russian eyeballs because while they may have eyeballs, those eyeballs are not in Russia. Check it out by reading their BPA or ABC audits!

If you invested in a company or acquired it, you would review its financial statements – audited financial statements. If you bought equipment, you would demand ISO 9001, API or another suitable industry standard. When you sell a quality product and your prospective client tells you they can buy cheaper, you probably ask them to do the math – an expensive pump (for example) lasts longer and produces crude more efficiently. The more expensive product actually saves the buyer money!

Getting What You Pay For!

Publishing and advertising is a business and the same rules apply. You get what you pay for! Advertising agency professionals that commit million dollar budgets for global advertising campaigns demand that publications they use present third-party independent audits of circulation. The gold standard in media auditing is BPA (www.bpaww.com). And in Russia, the only publication to have achieved this is Oil&Gas Eurasia. You can check our statement on BPA’s website or follow the link from our website, www.oilandgaseurasia.com or call BPA in London or New York and ask them any question you want.

BPA Worldwide is an independent, not-for-profit organization governed by a board of directors drawn from global advertising agencies and media owners which set internationally recognized standards for the auditing of media circulation claims worldwide.To join BPA, a publication must submit its circulation claims and supporting documentation to an intensive independent audit annually.

For advertisers, dealing with a BPA audited publication means getting value for your money. If you pay for an ad in Oil&Gas Eurasia you reach 10,000 readers, guaranteed. If you spend $4,000 on a page, you’ve spent 40 cents for each reader. If you spend $1,000 on a magazine that may go nowhere, you’ve spent $1,000 and reached no one. Considering that most Russian publishers print 2,000 copies, your best guess is between $2.50 and $5 a reader depending on whether the magazine went to an event.

OK, if you’re an English speaker, that telemarketing guy on the telephone with the proper English accent told you he’s got 8,000 subscribers and everyone from President Putin to the cleaning ladies at the Russian White House read his magazine. Ask him to prove it with a third party audit! If you don’t ask, you might as well light a bonfire in the street with your ad dollars.

Some Russian-based publishers print around 2,000 copies, and circulate less. If you’re a Russian speaking buyer, beware of “cheap.” Count the ads and multiply the price you’ve been quoted and ask yourself – how many copies can this publisher print and distribute and how does he pay salaries on the basis of the money represented by the number of ad pages multiplied by the price of the advertisement. Look in the mirror! Are there noodles on your ears? (English translation – were you taken for a ride?) Eurasia Press not only distributes from Moscow 10,000 copies of OGE by post and bulk courier to qualified readers in engineering and commercial development and procurement roles – we prove it with a BPA audit. And with circulation, size does matter. If you buy exhibition circulation only, no more than 1,500 people see your ad! Think about how many brochures you pass out in a single show? And of those who take it, how many are to show qualified buyers? To build your brand in a new market, you need not just circulation but guaranteed distribution to a statistically significant number of qualified readers in the market you want to influence with your advertising.
My first Chicago newspaper editor/boss told me 20 years ago: “If your mother says, she loves you, check it out!” His advice taught me to value accuracy in my journalism and integrity in my business activities.

Copyright © 2007 Eurasia Press, Inc. (USA). All rights reserved.
Copyright © 2007 Eurasia Press (www.eurasiapress.com)