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? Many brands today are struggling to maintain customer loyalty despite their massive advertising budgets, strong customer service, or even the pursuit of corporate social responsibility (CSR), and that may be attributed to the lack of a brand with a purpose.
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. This article looks at some critical components of purpose led branding…
Understanding the Broader Operating Environment
While a branding agency can help, you still need to be familiar with the greater forces at play globally, and to establish the ideal system conditions where a purpose-led company can scale up and flourish. A brand pursuing authentic goals that can change the world should obtain the latest actionable insights concerning key global trends on the economy, tech, society, behavior, environment, and religion. 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).
Embrace Purpose-Propelled Leadership
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. Likewise, large-scale influences, for example generational attributes of Millennials, may also help cultivate leadership with a purpose.
Purpose-Oriented Structure and Culture of an Organization
A corporation may set up special teams focused on the accomplishment of specific branding-inspired purposes like social innovation. Typically, these teams have to constantly collaborate with all or at least a few of the organization’s essential functions. Every purpose-oriented aspect must be integrated into each team’s mandate. This may be accomplished through the adjustment of your organizational structure and provision of incentives to accelerate the implementation of emerging priorities. 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.
The purpose of a brand must be evident in the goods or services offered. You should base any strategy and innovation on the purpose, letting its effect last for longer. Consumers form closer connections with brands, thanks to products delivered this way.
Branding with a purpose is no longer optional in a highly competitive marketplace, especially where customer loyalty is desired.