In a time when trade or business news publications are struggling to survive, one company is killing it. Industry Dive publishes business news and analysis for executives through dedicated sites and email newsletters. What Industry Dive does may not sound sexy, but its revenue stream is turning heads. On this episode of Brandstorm, Industry Dive’s Robin Re, VP of Marketing, talks about Industry Dive’s successful business model.
Industry Dive’s Story
After years of working together in digital media, Industry Dive’s founders Sean Griffey, Ryan Willumson and Eli Dickinson began to notice a consistent trend. They saw that, while mobile devices were changing the way people worked and consumed information, traditional business media content models, user interfaces and marketing programs were slow to adapt.
In 2012, they launched Industry Dive to meet the needs of busy industry executives: providing insights and analysis to help them do their jobs. Its first five publications included Construction Dive, Education Dive, Marketing Dive, Utility Dive and Waste Dive.
Five years ago, today’s guest, Robin Re, joined the company to contribute to its growth. Today, there are 16 publications with another two planned to launch this year, its reach has expanded to eight million professionals and its revenues have grown to more than $20 million.
As Industry Dive’s name implies, the journalists dive deep into the business news headlines to not only report the story, but to provide insight and analysis of what the information means to its readers. Its editorial is 100 percent independent with a staff of 66 full-time journalists.
Robin cites competition, change and capital as its formula for deciding which vertical markets to enter. The industry must already be covered by a niche media group, be subject to continual change because of technology and regulations, and have a large, capital spend.
Industry Dive’s newsletters are free to its readers and 100 percent ad-supported. Banner ads are less than 10 percent of its revenues. They don’t use programmatic ads, but sell directly to its advertisers using lead generation campaigns and direct response vehicles that include email platforms and high-end content like playbooks and webinars. Its sales force are more like consultants who sell “sponsorships” based on the goals of its advertising partners and craft campaigns that speak to its valuable niche audiences. Results are also evaluated primarily on the number of leads or downloads generated and not impressions.
The company expects to reach $29 million in revenues in 2019 and will employ about 150 by the end of the year.
Connect with Industry Dive:
The best way to communicate with Robin is to subscribe to one of its publications at: https://www.industrydive.com/industries/ She responds to everyone who writes to the publication.
Robin’s LinkedIn: https://www.linkedin.com/in/robinselvy/
IndustryDive’s LinkedIn: https://www.linkedin.com/company/industry-dive
IndustryDive’s Twitter: https://twitter.com/industrydive
Robin’s Twitter: https://twitter.com/robinselvy
IndustryDive’s Facebook: https://www.facebook.com/IndustryDive/