Is purpose-led branding just a marketing buzzword, or an important concept whose time has come, and which modern-day brands must incorporate to maintain a meaningful connection with their customers? A good number of corporations today do not have a purpose-led brand, which may explain their low levels of customer loyalty despite investing heavily in advertising, improving their customer service, or implementing corporate social responsibility(CSR).
The concept means much more than just giving back to the society–it entails a change in the product itself, incorporating an inherent value that can benefit consumers. By offering added value beyond the product or service on sale, a brand establishes an emotional connection with consumers. Read on to learn about important elements of any purpose led branding…
Incorporation of the Macro Landscape
As you seek to engage a branding company, it’s imperative that you have a strong grasp of the macro forces defining our world and develop system conditions in which a purpose-oriented enterprise can scale and thrive. If you are a brand with genuine world-changing ambitions, you need access to actionable current intelligence on vital megatrends around the economy, society, environment, technology, behavior, and spirituality. Be sure to base your strategy on, or at least have knowledge of, major developments with a global impact, for example the UN Sustainable Development Goals (SDGs).
Strive for Leadership With a Purpose
The many unique brands and paradigm-shifting innovations witnessed today are the outcome of leadership with courage and transformative personal purpose. An array of belief systems and faith practices may help build purpose-oriented leadership and influence. Additionally, purposeful leadership may emanate from a macro phenomenon, for instance characteristics of the Millennials generation.
Purpose-Oriented Structure and Culture of an Organization
An organization may deploy numerous teams toward the attainment of various brand-oriented objectives, for example social innovation. Typically, these teams have to constantly collaborate with all or at least a few of the organization’s essential functions. Strive to incorporate all purpose-related attributes into the work of every team. Your organization can do that by reorganizing its structure and offering incentives to ensure evolved priorities are optimally executed. It is also important to manage such teams well during uncertainty or hardship, and develop an understanding of the impact of new cultural trends and current hot-button social issues on employee morale.
A brand should embed its purpose into the products it’s offering for sale. The purpose should guide strategy and innovation, for its impact to be felt for a long time. Goods and services developed this way introduce a stronger connection between brands and customers.
Purpose-led branding is critical to the attainment of a competitive edge anywhere today, particularly when consumer loyalty is being sought.