Why Purpose is an important aspect for brands?
In a cluttered market scenario, a brand’s purpose drives differentiation and becomes a unique voice that can sustain price premiums, motivate the company’s workforce to come together as a collective family and enhance customer loyalty.
So if purpose is so important, why are so many brands across the world not able to get it? Headline after headline is about companies failing and being derided by their own employees and the lack of a trusting and secure company culture is the most cited reason for employees to leave.
Customers feel the same and stats show that most customers will not buy from a company that is hypocritical and does not treat its own people well.
To leverage ‘purpose’ purely for marketing in a shiny packaging is something that does not go the distance any more as sooner or later the veil is lifted when there is no real or societal impact. In today’s transparent environment, if a brand or its leader fail to walk the talk of their values, vision and purpose then people soon see through it.
Brand marketers are now awakening to the fact that it’s ok to not tout purpose so much if it has no real gravitas, and would rather focus on ‘positioning’. Strategic positioning actually is inside out. It’s true to the business, to the organisational culture and to the benefits that come from products and services.
This then transforms eventually to ‘Purpose’ which is real and resonates over time and yields rewards that serves the community, the consumers, the workforce, and best employee retention practises that do not conform to the status quo.
But for this to happen, it’s the people in the organisation- the individuals from the bottom up or top down who have to feel first the purpose within their own lives. It can take us a lifetime to actually figure out true purpose but that’s ok as along the way one will have discovered things about oneself and the world around us. To stay consistent with being our best version of ourselves is the key here and deep down we all want to be this.
Purpose doesn’t have to be lofty or life changing, or pushing for a big societal change. I remember for a long time I was driven with this idea that it has to be big, it has to be monumental but now years after going on a journey of inner discovery I realise that purpose is found in the smallest and the most ordinary of things.
To me just living Life each moment in a conscious, responsible, respectful and aware manner is purpose itself. This is how real purpose comes about…slow steady consistent and expanded with each step.
I see 2018 as the year where brands will actively move away from ‘doing good’ for the sake of it and will look to ‘do well’ instead and thus will return to true positioning and exploring what it means to live this from the inside out. A year where there will be fewer misappropriations of ‘purpose’ both for brands and individuals in the world out there. I see a future when there will be more and more brand campaigns that do not just talk about real issues on disparity, sexual victimisation, rape cultures, transgender rights, equal pay etc etc but brands that have a culture of values and equality and respect the world for it.
It’s a time where we are learning from our mistakes far faster than we ever did, and purpose is what makes us stay on track towards a more empowered world.
A Raison d’etre for us as individuals – and brands – for being, for realising and how that is communicated to the world at large. A focus on change all around based on co-creating a world of values, a work culture on ethics and a life on trust and relationships.
Bring it on Purpose because it’s magical!
Our brand founder and author of this blog Chetan Jha is leading not just change but also innovation across the board through best practises that echo understanding and reflection. He is available for consulting projects and loves speaking on various platforms. He loves tech, integrates digital into brick and mortar businesses and is passionate about the evolution of human kind.To know more, email us: London@elixirholisticconsultancy.com