The consumer market is becoming more and more conscious about their buying habits of certain types of products and services. How the market works and why companies are doing things the way they do. Today, we’ll discuss what is brand purpose; its importance, how to create brand purpose, and real-life examples of companies.
Edelman conducted Earned Brand study in 2017, which showed that 50% of the global customers describe themselves as belief-driven shoppers. 67% of the customers would first buy from such brands that they agree with the company’s position on controversial issues. It means the strong brand purpose would differentiate the company from the competitors.
What is Brand Purpose?
The brand purpose is the reason for the existence of the company way beyond making money and profit. You shouldn’t baffle the term with the brand promise. Brands promise gives customers an idea of what type of product or service they should expect, but the brands purpose is much more than that. It allows the company to develop a connection with customers on an emotional level.
Brands purpose and social purposes both have got a lot of similarities, but they’re different from each other. For clarification, the brands purpose is the product-led initiative that focuses on benefiting the business and the society simultaneously.
The BP may also reflect the experiences and lives of the founder, and their perception between the disruption and the need for change in the market. The brands aim could be moral, ethical, or political; and it offers people a choice to support a way of life while making the buying decision. It can be result-oriented like the company plans to meet the highest possible standards and overcome limitations.
Importance of Brand Purpose
Brands purpose is important because of the following reasons;
- A unique BP would help you to distinguish yourself from the competitors
- BP allows you to develop an emotional relationship between the customers and the company, and it would help you to amplify your sales
- Adds values not only in the lives of customers but also in society as a whole
Nowadays, brands are realizing the significance of developing connections with customers; and creating a link between the values of customers and the values of the company. Customers want transparency from the brands they’re doing business with.
They want to know that their money is going into the right hands of such companies that would make good in the world. At least, its policies shouldn’t harm the world and nature; along with offering products and services.
Aims-driven brands have a strong database of loyal customers. When customers know that theirs and the company’s values are in alignment; they would make the purchase decision based on the values, regardless of the quality and price of the product.
A survey study by CSR Specialist Cone in 2018 found that;
- Approximately 66% of the customers switch products that they usually buy towards the new products based on the purpose-driven brands
- 77% of the customers have a strong emotional connection with aim-driven companies
- 78% of the US people think that brands should do more than just make a profit, they should benefit the society
How to Create Brand Purpose
Some of the main tips on how to create brand purpose are as follows;
Different from CSR
Corporate social responsibility is a great concept and companies should follow it all over the world. They both have a lot of similarities, but the brands purpose is different. The focus of BP is what types of products/services the company is selling.
For instance, a luxury car company donates money, time, and energy to repairing and painting the church as a good cause and a noble gesture. But the kind gesture doesn’t say anything about the luxury cars that the company is offering. Similarly, philanthropy is completely different from brands purposes. When a company donates a lot of money to a charity, it doesn’t say anything about the brands product.
What & Why You Do
As Simon Sinek said in his book that people don’t buy things from you what you do, they care about why you do it. You should link the brands purpose with the reason for the existence of the company; the aim behind selling the products/services, and all the things that the company does.
You should have a specific purpose at the beginning of your company. However, you can’t simply copy the purpose of an already established product and attach it to your product. However, your customers notice these things. You should develop it from the offset, it is something that how the company has evolved and stood over time.
Long Term Thinking
The BP isn’t like the marketing strategy that you keep on changing; it is something that you should embed inside and outside of brands’ practice and image. In other words, customers should see the company’s commitment to its objectives and aims, rather than just doing it as a stunt at once.
Your Customers First
A suitable BP always gives the top priority to its customers. It means that the customers should be on the top of your mind every step you take and every decision you make. However, it is possible that your brands purpose would connect with all the customers, but it should definitely resonate with your main demographic. That’s how you can make your aim relevant to your audience.
Examples of Brand Purpose
Proctor & Gamble
P&G made out a public statement that the company believes in equality and is against any type of racism. The company analyzed its advertisement campaign in order to make sure that none of its ads are discriminatory or hateful to any of the groups. P&G plans to work with advertisers that meet the company’s equality standards. However, it shows that the company puts the social justice cause ahead of profitability.
Ben & Jerry’s Ice Cream
Ben & Jerry has aligned its company’s policies with equality and climate change and protecting the environment.
Dove follows the belief of body positivity and self-esteem of women more than anything.
The focus of the antibacterial soap company is to amplify hygiene and health in developing countries.
Conclusion: What is Brand Purpose? How to Create it/Examples
After an in-depth study of what is brand purpose; its importance, examples, and how to create it; we have realized that BP has become very important to today’s consumer market. If you’re developing it for your company, then you should keep in mind the above-mentioned tips.
Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.