miMOTIVE, Startup Out Of Silicon Valley Psyche, Embraces Automotive Expert Content
When miMOTIVE – a Founder Institute startup – was kickstarted as an idea a few months ago there was still some debate as to the real value of automotive content. Should automotive professionals really act as content providers? Is automotive expert content a legitimate investment? And don’t even mention the topic of ROI. A few months later, the conversation has shifted from should we create and provide automotive content to how could we not? Antonio Ferreira – Founder & CEO of miMOTIVE – isn’t surprised by the change in tone. One might even say he predicted it.
As the automotive industry becomes increasingly noisy, there is little doubt that the conversation around content will continue to evolve. It almost has to, and miMOTIVE as a pioneer is already disrupting the automotive content marketplace. There will be plenty of copycats. But very few will have miMOTIVE’s vast knowledge, experience, insight, and global coverage. So trust us on this one: listen to Antonio and his team. They know what they are talking about!
Building a successful marketplace is hard. But the benefits of doing so successfully are enormous. This month, miMOTIVE is launching in Lisbon (Portugal), to offer B2B expert content from the automotive industry in dozens of different categories within the same marketplace platform, while also offering additional service based businesses consulting and custom content services. miMOTIVE has created a curated automotive marketplace, inviting only the best four and five star rated expert content providers and publishers to participate, and even offer a money back guarantee should customers be dissatisfied with any content or service provided.
For this, miMOTIVE takes a 10 to 50 percent commission. While this rate may seem a little steep at first glance, publishers should consider that a lot of this content is likely to sell just once and then sit on a hard drive gathering dust. Plus add in the potential of acquiring a new customer, opportunity to upsell premium services, and it’s unsurprising that we have an 80 percent closing rate when pitching publishers to join our platform. miMOTIVE will become the world’s centre of automotive business intelligence, defined less by generic content and more by expert and exclusive knowledge, helping the automotive industry get through times of crisis.
In most digital content marketplaces there is a need for an interface between content providers and technology, to allow publishers upload content and present it to their potential customers. miMOTIVE will allow top automotive publishers to move away from reliance on commonly available one-sided platforms to a new direct value point in the information chain, providing a new level of competitive distinction, protecting content ownership and controlling pricing more effectively.
Due to extreme competition within the automotive industry a new market for exclusive premium automotive content is maturing and developing, making miMOTIVE open and interoperable so that large automotive players and service providers will start investing in the future of expert publishing, knowledge personalization and intermediation between the overwhelming availability of information, and the specific needs and wills of individuals.
Following the trends in today’s marketplace for where automotive corporations are acquiring their content, led us to conclude that there has been a gradual but steady paradigm shift towards expert-generated content and industry networking. Expert-generated content and industry networking on automotive markets also have other implications; the old method of content distribution has changed forever, while major publishers of generic content no longer have the control they once had over quality and quantity. They are scrambling how to figure out how to best sell content now that digital distribution is growing and physical distribution has basically shrunk to only a few channels. The fastest growing segment of the automotive intelligence business is the independent expert community. But this is only a snapshot of what is happening in automotive content marketplace such as publishing and consultancy.
The automotive market is clearly interested in expert-generated content and old distribution models are changing fast, so how can companies that have digital content best address the online marketplace and monetize their assets? miMOTIVE is the answer. We are admittedly biased, but it’s obvious that miMOTIVE enables on-demand distribution, allowing the customer to select the content that is important to them, and provides a certain level of customization and personalization. The faster automotive publishers address the changing content distribution marketplace and invest, or partner, with miMOTIVE the sooner they will see returns.
As the importance of digital content to automotive business grows it is important to seek a holistic perspective on the definition and nature of automotive content requirements. Along the journey it becomes evident that a recurrent theme in automotive content is perceived customer value, and this leads into the second major contribution, an exploration of the notion of customer value in a pioneering automotive content marketplace like miMOTIVE. The automotive community is starting to be fascinated by online marketplaces. Entrepreneurs accurately recognize that the connective tissue of the internet provides an opportunity to link players in automotive content markets, reducing friction in both the buying and selling experience. The arrival of smartphones and tablets amplified opportunities further, as the internet’s connective tissue now extends deeper and deeper into the automotive industry with the participants connected to miMOTIVE 24/7. It is a special experience to see an entrepreneur go from an idea describing a new marketplace opportunity to having established an online hub at the epicentre of the automotive industry.
A true B2B marketplace like miMOTIVE needs natural pull on both the customer and supplier side of the market. Aggregating suppliers is a necessary, but insufficient step on its own, as one must also organically aggregate demand. With each step, it gets easier to acquire the incremental automotive content consumer as well as the incremental automotive content supplier. miMOTIVE does not simply aggregate the market; we enhance the automotive content market. We leverage the connective tissue to offer business customers a user experience that simply was not possible before the arrival of miMOTIVE.
miMOTIVE also provides enhanced economic advantages. It allows business content consumers to procure superior or cheaper alternatives, while also providing brand-new economic lift to expert content providers. Both sides experience an economic advantage. miMOTIVE positively changes the economics of expert automotive content, as such we found participants on both sides rooting for our success. This gave us a huge head start when it came to tipping the marketplace.
miMOTIVE technology greatly enhances the user experience. We provide automotive players with an abundance of content that was historically kept in proprietary or expert ecosystems. Our platform provides amazing expert content in an industry where there was a complete lack of visibility on both sides of the network, which led to enormous waste of resources. miMOTIVE is also a content work-flow system that enhances the overall experience for all parties. Facilitating work-flow reduces work for the participants, as well as increasing value perception.
Great marketplace execution is more nuanced and less systematic than other venture backed categories, and for every successful marketplace, you will find an amazing entrepreneur that out-executed the many others that had chosen to attack the automotive market. In addition to great marketplace characteristics, which are reflected in miMOTIVE, you also need a world-class entrepreneur to make the dream come true. This is where automotive industry expert, miMOTIVE Founder & CEO, Antonio Ferreira made a difference.
miMOTIVE is in its earliest days, but the vision for the business is a compelling one. And unlike so many others, the company has effectively positioned itself as a B2B partner and resource to both automotive content consumers and providers.