The Importance Of A Purpose Driven Brand in 2020
You may be thinking, “what is brand purpose, and why on earth do I need to think about this for my business?” That’s a great question, and I want to explain the importance of implementing a brand purpose for your business in 2020.
So what exactly is a brand purpose and how does it relate to your business?
A brand purpose is the reason your business exists beyond financial gain. It’s the core purpose behind what you hope to achieve and accomplish through your services or products.
If you look at the last 20 years, things have changed so much. We’ve had a mind-blowing digital revolution that puts consumers at the forefront and empowered them to speak their truths with platforms to voice their beliefs and opinions on the products they purchase. What we’ve come to realize is that many consumers today want to purchase from businesses and people that they connect with and can relate to at a human level. If your brand stands behind something truly meaningful and purposeful, this purpose will help attract a tribe of loyal followers that also stand by these beliefs passionately and fiercely. When this type of synergy grows amongst your brand and followers, emotional connections become associated with your brand that create an amazing community of fans and influence.
Furthermore, this gives your audience a reason to believe and be inspired by your brand. And when you can spread belief, hope, and inspiration in people, you create loyal brand advocates and that is a very powerful thing.
So now you understand what a brand purpose is and the potential it has for your business, let’s dive into the real benefits it has for your business in 2020.
1. Adds value to society and your customers
The corona pandemic is impacting our planet full force, along with it the devastating effects it’s had on our economy and the mental health and financial state of our communities. Helping the people you serve and fostering unity and connection through something that can make a small but impactful dent in our society is a fulfilling experience to be a part of something worth championing in your business journey.
2. Creates differentiation for your brand
Not only does a purpose add value to society in general, but from a branding standpoint, standing behind a unique brand purpose will differentiate you from your competition and help you stand out in your category. The market is overcrowded with cookie cutter soulless brands, but your brand’s purpose sets you apart from all the lifeless clutter and builds loyalty amongst your followers and customers. We can now rise above many competitors in our category with a purpose that we are passionate about and eager to advocate for.
3. Strengthens brand loyalty and fosters emotional connections with your customers
Modern consumers want to connect with brands that share similar beliefs and viewpoints on topics that are important to them. Your purpose won’t resonate with everyone, but it should with your key demographic. When we have a cause worth championing for and communicate that to our target audience, this sparks a passion and connection with our brand that is powerful and emotionally charged. Consumers want brands to use their power and influence to do good. This in turn will boost brand loyalty and sales for your business.
4. Helps strengthen company culture
The last benefit and outcome this will have on your business is a much stronger, focused, and productive culture within your business. I can’t stress how important this is to have a strong and connected purpose that unites you and your team. If your team can champion towards a shared purpose that they believe in, not only will the productivity go up, but the culture and energy internally will thrive and reflect positively externally throughout all your touchpoints with your customers.
So how do you create your brand purpose?
The key thing to remember is that your brand purpose needs to relate to what you sell. If you pick a random cause that has nothing to do with your product or service, this looks very fake and ingenuine.
Ask yourself, “Why does my business make the world a better place?” Be clear about who your brand is and why you do what you do. Think long term while putting your customers first when coming up with your purpose.
I hope you’re excited and ready to answer these insightful questions to help you develop your brand purpose. The free brand foundations workbook is a great resource to help you get started with discovering your purpose for your business. Whatever you do, don’t rush this. Your purpose is the core foundation and initial piece of your brand strategy that drives the why behind what you do and will help motivate you and your team to stay aligned and clear throughout the growth of your business.
If you have any questions about creating your brand purpose or just want to chat about branding in general, contact me and I would love to hear from you.