What is purpose-driven marketing? Is your brand purpose driven? Your Mission Statement probably reflects WHAT you’re trying to accomplish. But your Purpose will explain to your employees and customers, WHY.
Richard Branson, CEO of Virgin Group, said, “It’s always been my objective to create businesses with a defined purpose beyond just making money.” Toms founder, Blake Mycoskie, says his company’s mission is to sell shoes, but its purpose is to provide free footwear to people in need.
Purpose-driven companies have been shown to outperform their peers over the long term. They have higher employee productivity and greater customer loyalty. Research has shown they not only get the attention of investors, they outperform their peers.
A growing number of consumers and employees are looking for interactions with brands that are personally meaningful and socially beneficial. And that is especially true with millennials.
That’s why we encourage our clients to ignite the goodness as a sustainable business and marketing practice.
The WHATS of the marketing world are a dime a dozen. They are the means by which we conduct business. The WHYS are far more special. They define the end results and the aspirations and expectations of why consumers choose one brand over another.
Purpose-driven and profit-driven go hand-in-hand. Invest in your purpose and your ROI will be manifested in both profits and joy.