As we enter this new decade, Stuart and I would like to thank all of you for your continued support, encouragement and feedback (good bad and otherwise) regarding MetalMiner. 2009 has been a great year for us. We grew our readership in January from 15,000 monthly readers to our current 26,000+ monthly readers putting us behind only the market leader, American Metal Market. And for a very small operation like our own, we are proud and humbled by that feat. However, we have much more work to do and we will not rest until we become the number one metals destination site for metal buying organizations as well as the investment and research community.
Now that our readership has reached critical mass, we have the task of “monetizing what we do. But rest assured, our daily blog content will remain free to all of you as will our current version of MetalMiner IndX(SM). We seek to not only revolutionize how buyers obtain metals markets intelligence but how producers, service centers and consultants engage with their target markets. The term Ëœengage’ vs. Ëœreach’ suggests what types of activities new media sites like MetalMiner offer. If I may digress for a momentÂ¦
Personally, I think banner ads are “dead. I know because firms constantly approach us to “pay for them. And I can’t really think of how they will benefit our firm, besides some brand recognition. Instead, at least, this is what I would want a place to engage with my target rich audience on issues, strategies, trends and topics of interest to them. I’d like to know who has an interest in a particular topic and I’d like to open a dialog with someone over common ground, so to speak. We call this model “attraction vs. “promotion. We discuss various topics and readers like you clarify what is of interest and what is not. In other words, we better match prospects with solution providers, producers, suppliers etc.
If I’m a large producer, I may have other messages I’d like to share with a metal buying audienceÂ¦a message that goes beyond “send us your inquiry and we’ll send you a quote. Those messages may involve environmental stewardship and leadership, global fair trade practices or product innovation. As any business exists for the maximization of profits, MetalMiner too must carefully balance providing content that readers have come to know and trust (or disagree with as the case may be) and making a profit. So in 2010, you will see a few changes to the site. First, we hope to add additional sponsors. You may also see more sponsored content and in some cases, more in depth content available for a small fee. Some of this will appeal to buying organizations and investment banks, consulting and research firms. Many of you have asked us to run Webinars and even conferences. We hope to add additional applications to the site and continue to build out our MetalMiner IndX(SM) with more data and more features and functionality.
As we evolve, so has our consulting practice at Aptium Global. Today, we focus on three main areas:
- Contingency based cost reduction services we work with manufacturers to implement cost savings for their metals related purchases where we can effect at least a $3m cost reduction.
- We also work with middle market and larger firms in which the savings are less than $3m. In this case, for a flat fee, we examine the purchasing data, conduct benchmarking activities and help the buying organizations devise methods of obtaining savings.
- Finally, we also offer retainer based or a flat day rate for companies that would like us to speak at an event, or would like to hire us as subject matter experts for any cost reduction initiative.
We look forward to another great year. If you have any idea for a blog post or would like to see more content in a particular area, drop us a line at lreisman(at)aptiumglobal (dot) com.