What’s purpose-led branding–a meaningless marketing catchphrase, or a crucial conception that any brand today has to adopt right away to support closer connections with their customers going forward? Numerous modern-day brands have failed to retain customer loyalty even after spending a lot on advertising, better customer service, or the establishment of corporate social responsibility (CSR), and the failure to have a purpose-led brand may be responsible for that.
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. Here are certain crucial ingredients that purpose-led branding should include:
Synchrony With the Broader Picture
You do well to embrace branding consulting, but start with a solid perception of the major dynamics shaping the world and create a system environment suitable for the scaling and growth of a purpose-led business. If you are a brand with genuine world-changing ambitions, you need access to actionable current intelligence on vital megatrends around the economy, society, environment, technology, behavior, and spirituality. Be sure to base your strategy on, or at least have knowledge of, major developments with a global impact, for example the UN Sustainable Development Goals (SDGs).
Strive for Leadership With a Purpose
The many unique brands and paradigm-shifting innovations witnessed today are the outcome of leadership with courage and transformative personal purpose. A number of system beliefs and faith-based customs may inspire the development of purpose-driven leadership and authority. Likewise, large-scale influences, for example generational attributes of Millennials, may also help cultivate leadership with a purpose.
Organizational Structure and Culture With a Purpose
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. It is also important to manage such teams well during uncertainty or hardship, and develop an understanding of the impact of new cultural trends and current hot-button social issues on employee morale.
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.
Purposeful branding is an essential catalyst of competitiveness in the market today, if you value customer loyalty.