It’s layout and typography looks amateurish (that’s part of the charm), its website declines to give away all their content (not that unusual now, but very much off-trend before) and there are lots of in-jokes without explanation new readers may not get.
So why is it still the biggest-selling news and current affairs title in the UK - with an average fortnightly circulation of 206,266, including 113,000 subscribers?
For a lot of the same reasons that The Economist is still growing both here and worldwide (UK +7.7% year-on-year to 240,895, worldwide +3% year-on-year to 1,486,838) and Men’s Health is still the leader in its sector, although down on numbers in the most recent stats.
What do they all share?
1. A strong, distinctive brand built on…
2. Absolute authority in their field. Imitators exist, but none match them, IMHO.
3. The trust of their readers, partly built on…
4. Humility – being prepared to admit that the people producing them are human and are sometimes wrong, or at least prepared to debate a point openly. I.e. proper CRM in action.
5. A real sense of humour. Most surprising in the latter two, but more funny when they do crack a witticism or tell a funny story.
6. Knowing their readers c.f. In Search Of Excellence.
7. A moderate drive to improve – evolution, not revolution, so no faddy innovation driven by a desire to copycat the latest trend. Which is driven by…
8. Long-term thinking based on proper strategy and in-depth knowledge of their readers (although I doubt Private Eye has ever held focus groups!).
9. A cultural commitment to excellence. Which leads to…
10. Extremely loyal readers.
Getting to their position isn’t easy – many have tried and failed – but if you properly apply the marketing-based approach to business (find out what people want and give it to them) you can do it to, whatever field you’re in.Happy birthday Lord Gnome!
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