The newsletter includes a report on Rio Tinto’s cost cutting plans and an insightful article on how the economy is shifting gears and what it means for engineering construction.

On a positive note the newsletter also features a report on Rio Tinto’s $3 billion expansion plans in the Pilbara and a snapshot of some of the big recent announcements with major projects in WA.

What’s the process in editorial development?

The development of editorial begins with a briefing. This includes the editorial ‘angle’ and aim of the editorial.

If the proposed editorial content is unsuitable or unlikely to be picked up by the media we’ll advise.

If the content is suitable and will probably be picked up by the media we’ll provide an estimate of the word count.

If photography or travel is required then we’ll also provide an estimate.

You must provide the names and contact details of all stakeholders – internal and external. It’s critical that you have the blessing of all stakeholders – especially your customers – before commissioning an editorial.

We’ll only proceed once you have accepted the estimate and notified us in writing that you have the okay of all stakeholders.

The first draft will be emailed to you for feedback and required changes. It can take anywhere from 14 to 28 days to develop a first draft – depending on the availability of stakeholders. It’s also very important to ensure you have enough lead time for editorial development if it’s to meet a deadline.

Please note: if you cancel the project after the first draft or any subsequent drafts you will be billed at the word rate applicable to the most recent draft.

Once changes are made, a revised draft is submitted. This process continues until no more changes are required and you have approved – in writing – the copy or text.

Following your approval, the draft is then emailed to external stakeholders quoted, referred to or sourced in the copy. This is essential.

Following feedback and any changes from external stakeholders a new draft is provided to all stakeholders.

Any further feedback and changes are incorporated into a revised draft. At this stage external stakeholders will be asked to confirm that no further changes are required.

A final draft or proof is reached when no further changes are required.

The editorial will not be released to the media without your explicit instructions – in writing.

All stakeholders are then notified by email, phone and/or where applicable – fax – when the editorial and any images will be released to the media.

Is the process different if I want to submit an editorial for a particular publication, edition and feature?

Yes. The same process as above still applies. However, if the editorial is targeted for a particular publication, feature and edition we’ll need to submit a synopsis to the editor for their consideration.

We’ll draft the synopsis and email it to you for approval before sending. There is no charge in drafting the synopsis and there is no charge if the editor declines the proposed editorial.

If the editor agrees to receive the editorial we’ll advise you of their required word count.

If you cancel the commission after an editor has agreed to receive the editorial and you agreed to proceed, a cancellation fee of $1000 plus GST to Wade Business Media applies.

Please note: editors reserve the right to publish or not publish, so there is no guarantee an editor will publish your editorial even if they accepted the synopsis and editorial. This rarely happens, but it can occur.

If the editor requires any further changes to the submitted content we will advise.

What if I don’t have anything to say or anything new to promote?

Don’t worry if you feel you don’t have anything to say or new to promote. If you’re in business then you or other people in your company surely have experience and knowledge that would be of benefit to your customers and target customers.

We’ll help you craft and effective message that communicates that experience and knowledge.

Is media relations part of your service?

Yes. We understand what it takes to get published in the trade press. Use our knowledge, experience and network of contacts to maximise your chances of unpaid media placement.

How much do you charge for your editorial services?

Our rate is $2.50 per word plus GST. This rate applies to the headline, body copy and image captions only in the final proof that you sign off.

The word rate does not apply to information such as company background, ‘about us’ statements and contact details.

How many words in a typical editorial?

This depends. A media release could be as little as 400 words. However, a technical article could be up to 2000 words.

We’ll advise you on an appropriate word count and won’t proceed until we’ve agreed on word count with you.

Do you ghost write?

Yes. Writing for the media requires very particular skill sets. We’ve worked with many companies to help develop editorial for people that don’t have the time or skills to write for the media.

Wade Business Media sells advertising for Australian Mining magazine? – Isn’t that a conflict of interest that may prejudice editors from competitor titles running a media release from Wade Business Media?

No. Most professional editors will consider a contributed editorial on its merits – not its messenger.

We’ve had editorials published in all of the major mining publications. For more information, see our portfolio at www.wadebusiness.com.au/portfolio/

In situations where a media release developed by Wade Business Media may be discriminated we advise you to send the media release to a list of contacts provided by us.

Can I see a copy or proof of the editorial before publication?

Some editors may oblige here, but most won’t.

Editors reserve the right to edit content as they see fit; it’s their call – not yours.

If you require a copy or proof of the published editorial before publication you must declare this before a synopsis is submitted. However, we strongly advise against a demand of this nature as most editors won’t oblige in defense of their right to edit. A ‘request’ rather than a demand to see a copy or proof of the published editorial before publication is preferable.

Demanding an editor to see a copy or proof of the published editorial before publication may offend. Editors can find this disconcerting and it may result in your editorial being withdrawn from publication. It could also result in your company being blackballed for future consideration. It would also reflect poorly on Wade Business Media.

Is photography extra?

Yes. If photography is required we’ll refer you to a reputable and suitably qualified professional photographer.

Photographers typically charge $150 an hour plus costs for each image. If travel is required such as location shoots then you’ll also be charged extra.

You’ll also need to factor in lead time for photo shoots and image delivery.

Wade Business Media does not package photography into editorial projects and accepts no responsibility for the work of recommended photographers.

Can I use the editorial on my website and in marketing collateral?

Absolutely! We encourage you to use the editorial in internal and external communications – particularly direct mail or via email marketing such as enewsletters.

I’d like to commission a case study, but my customer doesn’t want to be mentioned. Is it still worth commissioning an editorial?

It’s better that you have the blessing of all stakeholders before commissioning an editorial. An option here is to ask your customer if you could proceed providing any references to their company, operation and personnel are omitted. If the client still declines we strongly advise not proceeding.

What checks are in place to ensure I’m happy with editorial before its released?

Editorial development is a rigorous process. While it’s ideal to nail a draft first go this rarely happens. It’s not uncommon for an editorial to take several drafts before the final copy is reached. This significantly limits the chances of error, but errors can still occur.

While Wade Business Media takes ultimate responsibility for the final draft, all stakeholders share a responsibility in the accuracy and approval of editorial.

Editorial will not be finalised and released without your sign off.

What sort of result can I expect?

It’s important to manage your expectations about results.

While we can determine to some degree the newsworthiness of an editorial or editorial proposal it’s impossible to know if the media will run with the editorial.

A media release about a professional appointment at your company is going to be less appealing to the media than a case study.

Do you follow up to see if the editorial has been published or will be published?

Wade Business Media’s general policy is not to follow up with editors. Frankly, editors find this annoying and distracting. In some cases we’ll make an exception, but at the end of the day the editorial should be able to stand up on its own merits. Also bear in mind that many editors file media releases for features in future issues. Therefore, it could be months before your media release or editorial is run.

What if the editorial’s not picked up – do I still have to pay?

Yes. Wade Business Media makes no guarantees that your editorial will be published. We’ll do everything we can every step of the way to maximise your chances of publicity, but once your editorial has been released it’s in the hands of the media.

Can I see some examples of your work?

Wade Business Media’s extensive portfolio of published work is available for viewing at http://www.wadebusiness.com.au/portfolio/

Is your editorial usually picked up?

Wade Business Media has a 98 per cent success rate in published editorial for clients. Few public relations professionals can make this boast.

How can I maximise the chances of publication?

To maximise your chances of publicity it’s important that you firstly acknowledge and respect editorial integrity. A self-respecting editor will not compromise the editorial integrity of their publication by publishing content that it is too commercial in nature.

Secondly, you need to have something genuinely newsworthy to say. The people that receive and read content in the trade media are not morons; they are part of an educated audience. Tertiary educated and highly skilled they’re not interested in commercial content. They want to know how your equipment and services will help them boost efficiency, increase productivity, reduce costs and enhance safety for their operation. Stick to the facts and avoid hyperbole and unsubstantiated claims.

Thirdly, have a bank of high quality images that can be sent with the editorial. If you don’t have good images we highly recommend investing in the services of a professional photographer specialising in industrial photography.

Who are some of your clients?

Wade Business Media services clients large and small in editorial development. For more information, visit http://www.wadebusiness.com.au/portfolio/ and http://www.wadebusiness.com.au/our-clients/

With this in mind, Deloitte has released its annual Tracking the Trends report which examines the challenges expected to affect the industry in 2013.

“As commodity prices decline and global economic uncertainty persists, it’s harder for mining companies to predict future demand patterns,” Deloitte’s Australian global mining leader, Philip Hopwood, said in a statement.

“Companies are deferring their expansion projects in the face of waning Chinese demand, yet world demand promises to increase dramatically in the coming years,” he added.

It’s one thing to predict this year’s trends, it’s another to put them in some sort of historical context, because how do you know where you’re going if you don’t know where you’ve been?

In the words of English poet Coleridge: “If men could learn from history, what lessons it might teach us.”

So here they are the top 10 for 2013 according to Deloitte…

1. The increasing costs of doing business

Mining in Australia is only getting more expensive; costs are being driven up by the high cost of labour and compliance, and the introduction of the carbon and mining taxes, as well as Queensland’s royalty hikes.

The difference this year however is that commodity prices are not expected to support such high operating costs as they have in the past.

While commodity prices remain well above the 2008 lows, they have shown a pattern of decline in the last year.

Add to this the rise of natural gas in the US which has resulted in a drop in the demand for coal, and an increase in the amount of US coal being exported from the States to Europe and Asia, American coal is in direct competition with Australian coal.

Late last year American coal conglomerate Alpha Natural Resources even credited Australia’s rising costs for the US’ boost on the global coking coal market.

“The fact is that their cost inflation has been so rapid that it is actually improving the US’ relative position in the global seaborne metallurgical market,” the group’s vice-president of investor relations, Todd Allen, said at the time.

Allen said that recent cost inflations have far outstripped that of the US and Canada, attributing the rising costs to changes in federal and state government regulations and the inflated cost of labour.

“Queensland has just levied a new royalty on metallurgical coal that can increase the cost of production by several dollars per tonne.

“You’ve [also] got the carbon tax and minerals resource rent tax,” he said.

Nikki Williams, CEO of the Australian Coal Association, recently told SBS that the Australian coal sector is at “a terrible junction where not only has the international market come off in terms of prices, but our costs and productivity have gone to a terrible place”.

Williams added that until recently Australia was the world’s cheapest place to produce coal.

“Yet in just five years, we’re now the highest cost producer in the world at $176 a tonne compared to the rest of the world at $106,” she said.

Discussing cost pressures, Hopwood said mining companies must look at a more intricate series of investment options in order to remain competitive.

“With cost pressure mounting and talent shortages ongoing, companies must assess the viability of a more complex series of options. Investments will be necessary to enable companies to weather more severe volatility,” Hopwood said.

Deloitte suggests that such investments include improvements to operational efficiency, proactive control of maintenance costs, and investment in cost reducing technologies.

2. Commodity demand uncertainty

There is much debate over commodity demand predictions, while in the short term demand for resources like iron ore may be tapering, mining companies need to continue to look ahead to avoid long term supply constraints, Deloitte’s Americas mining leader Glenn Ives said.

“This danger will grow as companies halt production in the face of capital cost increases and growing shareholder demands for more immediate returns,” Ives said.

According to the Economic Intelligence Unit, real annual GDP growth in China is forecast to fall to an average of 8.1 per cent between 2013 and 2016.

Indications that China’s economic growth is slowing is having a ripple effect on mining companies, particularly those who have pinned their fortunes on China’s continued appetite for resources.

Such uncertainty present in the market makes it extremely difficult for mining companies to accurately predict or plan for future demand.

However one point to consider is that China to date has remained committed to its current five-year plan and vowed to spend an estimated $10 trillion Yuan by 2015.

Such conflicting global indicators means mining companies may have to look to history in order to plan for the future.

Either way, indecision will constrain future supply and long term trends appear robust, even if things are slowing down in the short term.

According to Reuters, in Australia alone over $246 billion in planned mining investments have already been frozen as a result of slipping revenues.

3. Quality over quantity of projects

Overrun costs and schedule slippage in mining projects not only worries lenders; they aggravate shareholders and attract media attention.

This year Deloitte believes we’ll see a growing number of miners being forced to determine what projects should be delivered rather then financing “speculative long-term projects”.

This is already happening in Australia: in August BHP Billiton’s $US20 billion Olympic Dam project was put on hold.

The company blamed weak commodity prices and rising costs.

However, in announcing the cutback BHP said it was looking at a different plan “involving new technologies” to make the project cheaper.

Shutting down projects like this is a sure-fire way to affect future profitability.

According to Deloitte Access Economics, the value of resources as a share of all projects in Australia’s planning pipeline fell from more than 56 per cent in June 2011 to 40 per cent in June 2012.

Adding to this statistic, a report by Newport Consulting found that just 25 per cent of Australian mining companies planned to make major capital investments in 2012, compared to 52 per cent in 2011.

“Mining companies can no longer lay claim to a deep portfolio of expansion projects when only a percentage of them are viable.

“Instead, companies must narrow the focus to those projects capable of delivering a demonstrable return on capital,” Deloitte said in its report.

4. Fighting for funds: Asian investment and M&A

The battle for funding is predicted to remain competitive in 2013 as debt financing remains tight across global financial markets and institutional investors continue to turn away from the mining sector, Deloitte said.

Such a turn of events has forced mining companies to look elsewhere in the search for capital, leading many companies down a road of joint ventures, mergers and acquisitions, and consolidations in an effort to get projects off the ground.

Asian based investors are still playing an active role in the resources market especially as the Chinese government continues to encourage them to provide development capital and acquire resources abroad.

It’s no surprise that growth in china is good news for Australia’s resource sector.

Australian Mining reported that in order to meet China’s growing demand for uranium, the China National Nuclear Corporation chairman said last year it would ramp up investments in overseas uranium mining exploration, focusing on Australia and Africa.

Just recently it was revealed that the state-backed China Metallurgical Geology Bureau is the major shareholder in new Australian uranium explorer Zeus Resources.

Zeus who successfully raised $13.5 million from Asian based investors, has numerous uranium projects scattered around Western Australia.

The uranium explorer had been searching for funding since prices slumped following the Japanese Fukushima nuclear disaster in March 2011.

5. Resource nationalism will remain

While Australia doesn’t have the same unpredictable level of sovereign risk as other mining nations around the world, Australia does have its own level of resource nationalism in the form of the mineral resources rent tax (MRRT) and the carbon tax.

Both have the potential to reduce company profits and interfere with project feasibility assessments.

“Whether it’s through resource nationalism, special mining taxes or the gradual creep in taxation, governments are looking for a larger share of mining company profits,” Deloitte’s Queensland mining leader, Reuben Saayman, said.

Australian Mining has previously spoken to Grant Thornton on this issue of rising resources nationalism and indigenisation.

At the time they explained that “increasing and unpredictable government intervention across the globe is adding further complexity to a sector that is already heavily laden with risk.

“The shadow of higher taxes, restrictive regulation and indigenisation looms large for an industry already grappling with the risks normally associated with exploration and extraction,” the company stated in its report Facing an uncertain future: Government intervention threatens the global mining sector.

Former Rio Tinto chief Tom Albanese has also spoken out against nationalisation, encouraging governments to look towards royalty schemes instead.

He said there is a massive debate on whether it is best for governments to gain their revenues via taxation and royalties, through partial operational ownership, or a combination of both.

The growing global threat of resource nationalism was rated as the number one fear for miners in an Ernest & Young report released last year.

In its report entitled Business risks facing mining and metals 2012-2013, global mining and metals leader for Ernest & Young, Mike Elliot, said “resource nationalism retains the number one risk ranking as governments seek to transfer even more value from the mining and metals sector”.

This has been a huge rise of the factor in the last five years, after it was only ranked number eight on the top ten risks list, and is only one of five risks that have remained in the list during this time.

6. Combating corruption – Holding miners to higher standards

ICAC’s investigation into questionable mining deals done in New South Wales’ Bylong Valley is set to continue until the end of March.

And although Australia prides itself on having a relatively low rate of corruption, coming in at number 7 on Transparency International’s Corruption Perception Index behind the likes of Denmark, Sweden, and Switzerland, it is worth noting that to maintain such a standard the country’s prime industries like mining must continue to be held to world class standards and expectations.

Corruption poses a significant risk to businesses’ bottom line and corporate reputation, and around the world, particularly in tougher geopolitical environments, combating corruption remains a challenge for the mining sector in 2013.

Deloitte’s mining leader for assurance, Tony Zoghby, explained that as the comfortable countries are mined out, mining companies will need to find new reserves in less than desirable places.

“This will require a much higher level of risk assessment, planning, and forecasting, taking into account such issues as obtaining community permissions to access local watersheds, exploring public-private partnerships to build out infrastructure and being prepared to walk away from projects – or regions- where the risks patently outweigh the rewards,” Zoghby said.

7. Socially responsible behaviour

Corporate social responsibility today extends beyond what is legally required; instead it involves understanding shifting community, government and NGO expectations, and committing to a higher level of transparency and operational sustainability.

This means mining companies must provide local employment opportunities, infrastructure, training, education, and healthcare in order to avoid vocal opposition to their presence.

Rio Tinto is the single largest employer of Aboriginal and Torres Strait Islander people in Australia and has demonstrated an unwavering commitment to Indigenous training and employment through the company’s Work Ready programs.

What started as a local initiative in Western Australia’s Pilbara has now grown to actively provide literacy, numeracy, health and safety education as well as driving training through government funded colleges.

“Our work-ready programs aim to give unemployed Aboriginal people the skills to gain full-time, meaningful employment. We adopt a no-barriers approach to address common obstacles such as lack of driving licences, poor literacy and numeracy, limited training and employment opportunities, family life balance, fitness for work and work adjustment issues,” Rio Tinto Iron Ore explained.

Failing to comprehensively consult local people, environmental groups and government organisations can result in costly project delays.

Mining companies must understand local culture and cultivate local relationships on an ongoing basis.

8. Skills shortages here to stay

The skills shortages in Australia’s mining industry remains at unrelenting levels, which is where they’re expected to stay for a while yet.

The Minerals Council of Australia predicts the need for an additional 86,000 mining professionals and skilled mine workers by 2020.

While the remote location of mines poses a challenge when attempting to attract talent, it can be overcome with wage hikes.

However this can prove to be unsustainable solution for majors who cannot continue to increase salaries year on year, and for juniors who cannot afford to fork out such exorbitant salaries in the first place.

Training local talent, sponsoring university programs, and cross training existing workers are all ways of recruiting whilst behaving in a socially responsible manner, Deloitte says.

9. Improving safety culture

Building a culture of safety is one of the most important tasks, if not the most important task, mine management can undertake.

Mining is a dangerous industry, although it has come a long way from the days when mercury was mined by hand and children could be found underground.

This doesn’t mean it’s anywhere near reaching safety perfection or zero harm. Investment in education and training needs to continue for improvement to continue.

One way onsite safety can be improved is through the adoption of new technologies and ways of thinking.

“Significant advances in data analytics and increasingly affordable sophisticated software capabilities can help organisations gain insight into causal factors and improve their safety outcomes,” Deloitte said.

Australia’s coal sector is already acting through the development of RISKGATE, an online application which aims to bring a wealth of industry knowledge onsite when it is needed to mitigate risk and create a safer operating environment.

Such out of the box thinking was enlisted at Xstrata Coal’s Newlands coal handling preparation plant following the tragic death of an employee at another site in 2008 when a bin discharged its load while the cabin of a vehicle was in the drop zone.

CHPP manager Russel Muller told Australian Mining just how important it is to review and improve processes to ensure safety.

The company implemented a fail safe tag reader system to ensure this accident would never happen again; this solution addressed the safety concerns without introducing other problems.

10. Implementing new technology

More mining companies are choosing to reduce operational costs and increase efficiency through significant technology investments.

Taking advantage of powerful data analysis enables mining companies to become highly predictive instead of reactive in their decision making processes.

“New data analytic capabilities enable mining companies to take hundreds – or even thousands- of contributing factors into account when allocating their portfolios, assessing their cost drivers, predicting project success rates, identifying third-party relationships, mitigating risk, and uncovering the causal factors of safety incidents,” Deloitte said.

Implementing remote monitoring and control capabilities through programmable logic controllers (PLCs) enables miners to automate industrial processes like blasting, drilling, and transportation and inturn can improve mine site safety and accelerate production rates.

Adopting technology from industries like advanced manufacturing is also proving to be successful for many miners.

Advanced manufacturing systems are improving engine and machinery design through the use of more complex parts and materials like composites and titanium alloys which are both stronger and lighter.

Collaboration is the key

Although these are the top ten trends for 2013, mining companies are renowned for taking a long term view of the market and long-term industry fundamentals remain positive.

“As global demand for resources grows over time, mining companies that lay the groundwork today will be well positioned to seize tomorrow’s opportunities,” Deloitte stated.

At present the mining industry faces a number of systemic issues that cannot be resolved without collaboration between players.

From aging infrastructure, talent shortages and growing social expectations, to heightened demand for both energy and water and the need to implement new technology to stay ahead of the curve and improve safety records, these issues will not be resolved whilst mining companies act alone.

Established in 1908, Australian Mining Magazine continues to lead and inform the Australian mining industry of the latest innovations in mining technology and equipment.

With Australian Mining’s penetration into the top 1,300 mines and processing facilities, and its analytical feature-driven content specifically targeted to service the information needs of senior managers, technical mine managers and mineral processing professionals in the Australian mining industries, you are sure to reach the professionals who make or influence purchasing decisions.

To ensure maximum reach and longevity of your advertisement, each edition of Australian Mining is sent to our newsletter subscribers as a digital magazine and is also housed on our website.

DEMOGRAPHICS

AVERAGE NET DISTRIBUTION PERIOD ENDING MAR’12 – 7,996

ONLINE PROFILE

With an average of more than 316,500 page impressions per month, miningaustralia.com.au is Australia’s leading mining industry website.

Specifically designed to be the community hub for the Australian mining industry, visitors are encouraged to view and submit press releases, event listings, products and services details, as well as read breaking news and feature driven content from the magazine.

ONLINE STATISTICS
> MORE THAN 18,300 SUBSCRIBERS RECEIVE OUR DAILY NEWSLETTER
> OVER 316,500 PAGE IMPRESSIONS PER MONTH
> OVER 150,000 VISITORS PER MONTH
> OVER 80,300 UNIQUE VISITORS PER MONTH
Source: Google Analytics Jun – Sept 12 *2012 Readers Survey

FEATURES – 2013

JANUARY

• Australians Mining Overseas
• Safety
• Product Directory

FEBRUARY

• Coal Mining
• Minesite Vehicles
• Quarrying, Crushing & Screening
• Minerals Processing
• Product Focus: Motors & DriveS
• Personnel
• Prospect Awards: Launch

MARCH

• Pilbara Spotlight
• Materials Handling
• Drill, Blast & Geomechanics
• Maintenance & Monitoring
• Automation & Remote Control
• Product Focus: PPVC

APRIL

• Hunter Valley Spotlight
• Underground Mining
• Power Generation & Electrical Equipment
• Infrastructure
• Contract Mining, Engineering & Services
• Product Focus: Cranes & Lifting
• Hire & Rental

MAY

• South Australia/ Northern Territory Spotlight
• Environmental Management
• Mine Ventilation /Dust Control/Fire Suppression
• Trucks & Transport
• Communications
• Safety

JUNE

• Victoria/ Tasmania Spotlight
• Hard Rock Mining
• Quarrying, Crushing & Screening
• Minerals Processing
• Maintenance & Monitoring
• Product Focus: Test & Measurement
• Materials Handling
• Wear Resistance & Lubrication

JULY

• AIMEX 2013 Preview
• Queensland Coalfields Spotlight
• Minesite Construction
• Mapping & Surveying
• Minesite Vehicles
• Product Focus: Motors & Drives
• Drill, Blast & Geomechanics

AUGUST

• AIMEX 2013 Edition
• NSW Spotlight
• Indonesia / PNG Spotlight
• Contract Mining, Engineering & Services
• Mining Accommodation
• Fly in Fly Out Focus
• Product Focus: Mine Ventilation, Dust Control, Fire suppression

SEPTEMBER

• Pilbara Spotlight
• Power Generation & Electrical Equipment
• Personnel
• Industrial Relations
• Minesite Vehicles
• Safety
• Product Focus: Cranes & Lifting

OCTOBER

• Mining Software & Hardware
• Automation & Remote Control
• Communications
• Mapping & Surveying
• Minerals Processing
• Product Focus: Process Control & Instrumentation

NOVEMBER

• Minesite Vehicles
• Motors & Drives
• Water & Wastewater Management
• Product Focus: PPVC
• Drill, Blast & Geomechanics
• Wear Resistance & Lubrication
• Hire & Rental
• Safety
• Prospect Awards: Finalists Issue

DECEMBER

• Metals Outlook 2014
• A Look Back At Mining in 2013
• Hydraulics & Pneumatics
• Maintenance & Monitoring
• Product Focus: Test & Measurement
• Prospect Awards: Winners Issue

PROSPECT AWARDS

The Australian Mining Prospect Awards are Australia’s premier national awards for excellence and innovation in
the mining industry.

In 2013 Australian Mining Prospect Awards will contiune to recognise those who are setting the benchmarks within the
mining industry in Australia.

Australian Mining established the Prospect Awards program back in 2004.

Now in its tenth year, the Prospect Awards are one of the major awards program specifically for Australia’s mining and resources industry.

The Prospect Awards celebrate and recognise the achievements of industry leaders in their drive to achieve ‘best practice’ and excellence in mining.

A product or service that solves a problem also helps!

Establish a clear objective

Advertising to boost sales is a given, so what specifically do you wish to achieve? – Greater market share? – Launch a new product or service? – Break into new territory? – Reinforce after sales service and support? – Greater brand awareness?

If you don’t know what you wish to achieve, how will you achieve it?

Identify your target market

Who are your target customers? What are their job types? In which industry sector do they operate? Where are they based? Are they the decision-makers or do they influence the sales process?

If you can’t clearly define your target customers then you can’t reach your target audience.

Make a shortlist of relevant publications

Start by gathering media kits from relevant publications.

Review the demographics of each and once satisfied that they reach your target customers, compare and contrast each.

A good way to do this is to create a spreadsheet listing the publications in separate columns.

On the left hand side of the spreadsheet create a column with rows for the following data:

1. Publication format – For each publication, enter its type and dimensions e.g. magazine (297 x 235mm). This will give you an indication of what sort of impact your ad will have.

Magazine ads more impact because of their glossy finish.

Ads in newspapers offer more space, with their rough matt finish so they don’t have quite the same impact as magazines.

2. Publisher – For identification purposes enter the publisher of each title. Review the publisher’s website and their stable of publications. How long have they been around? Maybe call some of their advertisers and ask them what sort of results they’ve been getting.

3. Frequency – Enter the frequency of publication i.e. monthly, bi-monthly, bi-annual – twice yearly etc. Generally speaking, the greater the publication’s frequency – the stronger its brand recognition in the market.

4. Circulation – Enter each publication’s circulation.

5. Full-page card rate excluding GST – Enter the full-page card rate excluding GST for each publication.

6. Cost Per Thousand (CPM) – Okay. This is where it gets interesting. By calculating each publication’s CPM, you’ll see which gives you the most bang for your advertising dollar.

To calculate CPM divide each publication’s full-page card rate excluding GST by its circulation.

For example, if the publication’s full-page card rate excluding GST is $4,170 and its circulation is 8,034 copies then its CPM is 52 cents. Therefore, it costs 52 cents to run a full-page ad in each copy of this publication.

Do this for each publication in your spreadsheet; the Excel savvy can do this quickly with a simple formula.

7. CAB audited? – Since 1957, the Circulations Audit Board (CAB) has been providing advertisers, marketers and media buyers with verified distribution data, delivering credibility to the media industry.

CAB-audited publications usually publish the CAB logo in their publishers panel and in their media kit.

My advice: don’t risk your advertising dollars with publications that aren’t CAB audited.

Publishers not CAB audited can only make claims about their circulation and distribution. There is nothing to support or verify their circulation and distribution, so caution here.

Also, be wary of publications with outdated CAB figures. Figures should be less than six months old.

In your spreadsheet under each publication enter a ‘yes’ or ‘no’ in the CAB audited row.

8. Distribution by State – Under Distribution in your spreadsheet, create rows for each state then enter the figures for each publication.

For publications that don’t disclose their distribution, enter ‘not in the public domain’.

The information here speaks for itself; it is particularly illuminating if your campaign is focussed on a particular region.

Content

I haven’t discussed content in selecting publications and for good reason.

Editorial is subjective; it cannot be quantitatively measured.

Many advertisers place their advertising based on perception, which is just nuts. You may as well be spinning the bottle to choose a publication.

Unless a publication has: received accolades and awards for editorial; rated highest in credible and independent research; or has no genuine competitor, there is no logical reason to choose one publication over another based on editorial.

As for publisher’s that inveigle advertisers with editorial for an ad booking, this offers little benefit.

People who procure or specify plant, equipment and services are not morons; many are engineers or people with an engineering background. Puff pieces such as company profiles will not get their attention.

I have no respect for editors who sanction such drivel under the guise of genuine editorial. Neither should you. If it’s paid-for editorial, it should be clearly identified as such.

Create an effective advertisement

Creating an effective advertisement begins with defining your advertising message.

Yes, by all means canvas the opinions and feedback of your sales team, but don’t assume anything about your target customers or your advertising message. Also be wary of relying on anecdotal feedback from sales people.

A prudent approach here should involve some research. This doesn’t have to be a costly exercise. Hiring a temp for a week to survey by phone your client base with a brief, relevant and apropriate questionnaire will suffice.

Support your advertising campaign with editorial

I am gobsmacked at the number of advertisers that don’t leverage their advertising with editorial.

I suspect this is because people neither have the time, resources, know-how or inclination to write an editorial.

People also often assume that they don’t have anything of value to say. Nonsense. If you supply equipment or provide a service you must at the very least be able to offer advice or guidance.

A consultant or media agency can help here, but ensure they’re intimately familiar with your industry sector. Also ask them how many editorial contributions they released got picked up or published? Do they have a network of connections? Do they know the editors?

Measure the results

It’s critical to measure the effectiveness of your campaign.

Enquiries or leads is a key performance indicator of a campaign’s effectiveness. If you’re not diligent and disciplined about recording where your leads originate, start now.

This objection usually comes with an implication that the poor response lay squarely at the feet of the publisher or the magazine or the unscrupulous person who sold the ad.

Rarely does the advertiser admit mea culpa. Funny that.

There are many reasons why advertising campaigns fail, and yes, regrettably there are some unscrupulous sales people who fan the flames of resentment towards our profession. However, in my experience the advertiser is more often than not at fault when their campaign’s a fizzer.

Before I list those reasons, let me clarify the role of advertising in business-to-business publications: it is to deliver information that allows people to make informed decisions about the purchase, procurement or specification of plant, equipment and services.

Advertising in the trade press is unlike advertising in, say, the classifieds section of your local newspaper where it would be perfectly reasonable to expect calls after your ad runs.

Expecting people that procure equipment and services worth millions of dollars to beat a path to your door after seeing your ad for the first time is fantasy.

If somebody is considering the purchase of, say, a crusher and screener they are not going to pick up the phone and place an order after seeing your ad for the first time.

The buying process for big ticket items is long and complex. It can involve many stakeholders with decisions taking months – sometimes years.

So why advertise in trade publications? – Essentially it is to build brand awareness.

Building brand awareness means increasing your share of voice in the readers’ minds about your company and brand, as well as your equipment and services.

Providing you have a good product or service that’s in demand and you’ve invested in an effective advertising campaign over a reasonable period you will reap the benefits when the purchaser is ready to buy. Why? – Because you’ve built brand awareness, gained the trust and confidence of the market and grown the share of voice in your brand.

As former Australian PM John Howard once famously quipped about what it takes to win election campaigns: “You can’t fatten the pig on market day.”

Now back to the reasons why your advertising campaign may have failed:

1. There was no demand for your product or service.
2. Your competitors have done a much better job of building brand awareness through advertising and taken market share.
3. You advertised to the wrong audience.
4. Your ads were lackluster passing by the readers’ eyes like a ship in the night.
5. You advertised in the wrong publication.
6. You advertised too little.
7. You had no strategy behind your advertising campaign.
8. Your ads were to small to be noticed.
9. Your ad layout and design were poor.
10. The graphics and images in your ads were inappropriate.
11. Your ads had no headline.
12. Your ad headlines had no clear call to action or highliht the problem that your equipment or service solves.
13. You don’t track or measure the source of enquiries.
14. Your ads were in poor positions.
15. You bought the advertising because it was cheap – or the cheapest compared to the competitor publications.
16. The person responsible for designating and booking the campaign had no idea what they were doing.
17. There were too many people involved in the decision-making process about your advertising campaign. This reminds me of a riddle: what’s a camel? – A horse put together by a committee!
18. The magazine had copies distributed on newsstands bought by people not involved in the purchase, procurement and specification of plant, equipment and services.
19. The person who sold you the ad had no genuine interest in your business or marketing objectives.
20. Your expectations were unreasonable and, therefore, unachievable.
21. Your advertising budget was inadequate.

For help with your advertising needs, call me on 0435 945 868 or email jamie@wadebusiness.com.au