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…
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 your brand’s objectives have realistic world-changing ramifications, you have to stay abreast of meaningful insights into major economical, technological, social, behavioral, and religious tendencies or patterns. Always strive to strategize around, or as a minimum, take interest in key developments with international relevance, like the UN Sustainable Development Goals (SDGs).
Have a Purpose-Oriented Leadership
The majority of distinctive brands and ground-breaking inventions realized so far can be attributed to solid leadership and a sense of transformative purpose. Purpose-propelled leadership and persuasions may come from different sets of beliefs as well as faith traditions. Additionally, purposeful leadership may emanate from a macro phenomenon, for instance characteristics of the Millennials generation.
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. Ordinarily, the groups have to team up with every other or at least the most critical sections of an corporation. Strive to incorporate all purpose-related attributes into the work 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. Additionally, it helps to handle these teams well in periods of instability or adversity, and have a grasp of how the latest cultural or critical social matters affect worker motivation.
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. 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.