Distributed Storage. Contract Research Organizations. Retail Loss Prevention.
If you're an average Joe yawned. But if you're an industry executive, those types of articles might be just what you need to stay current in your industry and develop competitor-crushing strategies. And luckily for you, as Thomas Heath of The Washington Post shared, there's a digital media company that's dedicated itself to publishing exactly this type of fare.Schmoe, you probably read those and
Industry Dive specializes in providing content to 13 targeted industries and has dedicated sites for each of them.
What are they doing right?
Despite the niche focus, Industry Dive reaches roughly 5.5 million business executives each month. They are drawn to content that focuses more on high-level industry trends than the daily news. With a unique, bulleted news format and special "insight" section for each story, Industry Dive's publications give executives a comprehensive yet concise look into what is happening in their industry.
"Our journalists aren't tasked with just telling the facts behind a story" said Sean Griffey, Industry Dive's CEO. "They focus on connecting the news to broader issues that shape the industry. This helps give busy executives context that the can use to make decisions."
These readers are typically buyers of very unique, often expensive products for their companies. As such, Industry Dive offers highly valuable ad display real-estate, making them a perfect venue for advertisers.
"There just aren't many places for marketers to contextually reach these audiences," commented Griffey. "We help them generate qualified leads and, ultimately, sales. Because our products are all digital, the ROI of an ad placement is directly measurable."
This allows Industry Dive to charge a premium for its advertising. Industry Dive's ad rates start at $60 CPM - more than 30 times what a typical general news site can charge.
Technology has been critical to Industry Dive's growth, too. Because mobile is becoming the heart of online browsing and digital consumption, the company has a dozen tech experts dedicated to mobile optimization. Thanks to their efforts, readers constantly receive a better user experience and they have grown their subscriber base by over 70% in the last year.
It takes time
Success didn't happen overnight. At first, the company's founders focused on just 5 industries and did pretty much every job the business required, and they changed locations multiple times. After two years, they landed their first big client--Siemens. Now, they're focused on reinvesting their profits into new hires. And the money is good. Really good. The founders expect to gross $15 million in revenue during 2017.
"The growth has afforded us opportunities we didn't have in the past," said Griffey. "Earlier this year, we able to acquire two publications financed with our operating cash flow. Along with our aggressive hiring plans, we hope to do more of those in the coming months."
So if anybody tells you there's no future without glam, just keep these guys in mind. And if anyone questions you on whether or not there's a thought-leadership site for the waste industry -- there's a Dive for that.