There is no shortage of challenges for those in the media business, who struggle to retain both readers and advertisers. From a loyalty marketing strategy lens, it’s noteworthy when a newcomer not only has a proven track record but also an antidote.
Axios, named after the Greek word for “worth”, is a brand new entrant in the news business and one that we believe will surely be a disruptor. And a quite successful one. Its founders are the same team that started Politico.
While this is interesting for many reasons, for us it comes from an innovative new model for publishing and editorial backed by a manifesto that speaks directly to the kind of loyalty marketing strategy what drives customer loyalty:
- Reader First: Bias-free facts and “no nonsense” because, “It’s the customer, stupid”. Along with prioritizing customers, Axios smartly does the same with its employees, who at Axios all get sabbaticals, among other benefits of working at Axios.
- Elegant Efficiency: This follows #1 above and connotes respect for readers’ time relative to value delivered. Time, especially for consuming content, is the most precious commodity we have. Axios clearly recognizes this.
- Smart, Always: Axios is built for “smart people”, i.e., it’s not for everyone. This is loyalty 101. The opposite of being for everyone.
- Don’t Sell BS: Real value and measurability for advertisers. Being straightforward and transparent are essential for building trust and loyalty.
- Smart Brevity: See #2 above.
- Excellence, Always: This implies consistency and sets (high) standards. This is what builds a trustworthy brand, also a requisite for loyalty.
While there is still much to come and be revealed from Axios, we think they are on to something beyond the news business. They get it. And they have devised a sharp loyalty marketing strategy to drive their business, and it serves as a lesson beyond publishing.