The Power of Brand Purpose: Why Your 'Why' Matters More Than Ever

The current day consumer is seeking more than a product, or a service—they need to believe in the brands they are using. It is not a scientific craze. Human beings are concerned with the values of the company they are supporting and as companies, we should follow. The concept of brand purpose has become the core of our consideration of successful brands in our modern-day perception. However, what are we talking about by a brand purpose and why would you be interested in it?

Brand purpose is at its core about what is the reason of your company other than making money. It is the larger reason why your brand rose in bed in the morning. It is the value that you bring special to your customers, employees and society. Consider it to be the answer to the question: What positive effects in the world do we want to make? In the case of Guinness, it was not about brewing beer. The brand mission was everything of uniting people and glorifying moments of connection. That stronger feeling of community provided the brand with a soul that the consumers were able to relate to. Equally, the role of BMW was to evoke happiness and liberation by driving. It was not simply a business of selling cars, but merely of driving.

In this day and age, you are dealing with a more knowledgeable, more aware, more vocalized consumer base when it comes to companies that they embrace. Accenture conducted a recent survey which shows that almost two-thirds of consumers would want to see businesses take a position on social, environmental or political matters. Showing any neutrality or remaining silent is no longer sufficient.

Studies by Harvard Business Review reveal that purpose-based businesses always perform better than others. These brands bring the customers closer to the company, workers feel more involved and the company becomes more difficult to bring down during low moments. Based on the experience of operating with such companies as AB InBev and KFC, a brand purpose can be specified and lived to energize the whole workforce and establish an emotional bond with the consumer that goes beyond product.

You cannot simply come up with brainstorms in a conference room to define the purpose of your brand. It goes down into the guts of what is really making your business.

Key Questions to Uncover Your Purpose

• What are your core values?
• What do you do in society or in the environment to solve?
• What does your customer regard? The exploration of these questions when dealing with clients will assist in discovering the uniqueness behind each company. In the case of one B2B customer, an interest was not only in the technology they were offering, but in manpower advancement with the help of technology. This change in mindset not only provided them with a new means to speak about their brand, but also served as the means to distinguish themselves among the rivalry.

It is important to remember that the purpose of your brand should be real. In the current consumer society, people are intelligent enough to recognize a brand as inauthentic or as one that is jumping on a cause without a reason. When your intention does not match with what you are doing or does not seem to be related to what your business is all about, it will not benefit you rather harm you.

In Order to Ensure Your Purpose Is Memorable, It Must Be:

Authentic: It must say what you are truly passionate about as a company. Actionable: Support it with actual initiatives and changes that will put you to business. Consistent: This means that your purpose must be present at all points of contact with your customers, in an interaction with them in customer care, in your marketing efforts, or in how you treat your employees.

Your marketing purpose is not merely a marketing instrument, but should be the prism through which you view all your strategic choices. Be it a new product you are planning to launch, or a new market you are venturing into or even in deciding on your corporate social responsibility activities, your purpose should act as your guide.

When your company mission appeals to the things that buyers are concerned about, then you have made a strong bond beyond the purchase.

By the end of the day, brand purpose does not simply mean being different in the market. It is about leaving something significant in the world and being a business that people would like to patronize. Those brands that indeed practice their purpose, be it B2B or B2C, will be the ones that will succeed in the long run. With its experience of more than twenty years working with brands worldwide, companies that invest in their purpose and living it realistically are the ones that become most sustainable. It is no longer what you sell but why you sell it and why it is important.