Making your brand purpose effective in 2022

Brand purpose is a vital component of every thriving business. It essentially explains why you exist and what differentiates you from the competition. According to Raphael Bemporad, the Chief Strategy Officer of BBMG, discovering your brand purpose is just like finding your Noble Purpose or “North Star”.

You first need to understand how your particular brand purpose can fill a market gap, serve consumers, and benefit the larger community. Without an effective purpose, your business might lose direction like a rudderless ship. You can get more info about how to kick-start your brand purpose and grow your business.

Benefits of creating a purpose-driven brand

  • Increasing brand loyalty

In the past, customers were content with buying whatever products they picked from the shelves. Things have changed dramatically since then. Today’s shoppers want to understand how different brands influence the communities around them and what they really stand for. Consumers care deeply about why their favorite companies do what they do – they feel more connected to purpose-driven brands. Naturally, companies that have a strong brand purpose enjoy greater customer loyalty than those who don’t. It’s important to foster client relationships by believing in something bigger than your products or profit margins.

  • Boosting employee retention

When you design a clear, meaningful brand purpose, your employees will feel more motivated to achieve the company’s mission. Successful brands have one fundamental thing in common: they value their staff members and make them feel like part of a caring team. Creating a purpose-driven brand can dramatically improve employee retention, boost their workplace morale and increase their productivity. After all, they’re always incentivized to deliver their A-game and achieve their assigned tasks. If you currently have a dormant brand purpose, then it’s probably best to resuscitate it using tried-and-tested techniques to avoid missing out on these and more perks.

  • Growing sales

If your sales figures have been dwindling, then you should reinvent your brand purpose. After all, statistics show that 66% of consumers who use a particular product would switch to new substitutes manufactured by a purpose-driven firm. More importantly, 78% of American shoppers would recommend products from brands with a worthy purpose. People want to be affiliated with brands that bring positive change to the world. Creating a remarkable brand purpose goes beyond your resolve to serve customers and solve societal issues. Sure, these concerns are vital, but it’s better to design a unique purpose that’s tailored for your distinct brand.

  • Creating meaningful community connections

Most purpose-driven brands give back to the community, either through Corporate Social Responsibility (CSR) projects, awareness campaigns or providing employment opportunities to local residents. Today, a growing majority of people are leaning towards firms that address some form of social fairness issue such as immigrant rights and climate change. As such, it’s vital to channel part of your profits into meaningful causes that have a positive impact in society. More brands need to dance to the tune of their consumers.

The benefits of having a well-defined brand purpose are inexhaustible. Your company will experience better synergy and a rejuvenated workforce once you shift to purpose-driven brand marketing.

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