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 idea is deeper than the notion of giving back to the community–it necessitates the development of an improved product with an intrinsic benefit that consumers can utilize. When a brand delivers more than just the product or service paid for, it creates an emotional tie with users. Read on to learn about important elements of any purpose led branding…
Understanding the Broader Operating Environment
You do well to embrace branding consulting, but start with a solid perception of the major dynamics shaping the world and create a system environment suitable for the scaling and growth of a purpose-led business. 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).
Embrace Purpose-Propelled Leadership
Individuals with a transformative purpose as well as bold leadership are behind most of the outstanding brands and revolutionary inventions existing today. A number of system beliefs and faith-based customs may inspire the development of purpose-driven leadership and authority. 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
Many organizations form different teams to help achieve different brand-inspired goals, such as social innovation. Such teams are oftentimes liaising with many, if not all, core departments within the organization. Each purpose-led element should be infused into the tasks of every team. 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 products delivered in the market should give life to the brand purpose. You should base any strategy and innovation on the purpose, letting its effect last for longer. Products created this way provide new levels of connectivity between brands and customers.
Purposeful branding is an essential catalyst of competitiveness in the market today, if you value customer loyalty.