Find Out The Shocking Truth About Brand Purpose
“People don’t buy what you do. They buy why you do it.”
– Simon Sinek
Today, in such a pandemic situation, it is very important for business leaders and start-ups to understand a simple thing, today’s consumers (be it B2B or B2C) not only care about product quality, quantity, and cost. Consumers are getting smarter than ever before. An article from the UK says, more than half a million companies reported being in ‘significant distress.’
How would a start-up withstand this pressure and force of nature and yet generate revenue?
It is essential to see what have successful business models did to survive this bloodbath in the market, that we can learn.
The answer is, consumers now care about what kind of impact your brand is making in the world. And if you honestly want to grow your business, your brand needs a purpose to exist, a purpose which consumers will connect to. You need to define clearly, why do you exist in the market apart from making money.
Brand purpose answers the question of “why” you exist. It is the meaning behind your brand’s existence, a perfect viewpoint of what you want to become to your consumers,
Dove’s brand purpose is,
To encourage women to have a positive relationship with beauty.
How to define the purpose of the brand:
- Besides commercial intent, why do we do what we do?
- What ’cause’ our brand supports or contributes to?
The following pointers you must consider to answer the above questions:
- Are you helping people?
- Who are you helping?
- What are you helping them with?
- Does it have a ‘knock-on’ effect in their lives?
- Is there something in your industry, community, town, or country that requires support?
- Does your audience feel this way too?
A Company’s Purpose Has to Be a Lot More Than Words.
Why is it important to have a brand purpose?
Deloitte’s survey showed that “Millennials would prioritize the sense of purpose around people rather than growth or profit maximization.”
Here are some key advantages to it:
1. It adds value to society, not just to your brand
2. It helps to boost sales and brand loyalty by building an emotional relationship between a brand and its consumer
3. A unique brand purpose can differentiate your brand from competitors
4. In such pandemic conditions, only this turns to major success mantra for sustainable growth of a brand
The only way to survive for the long term business is to stick to your core brand purpose.
For Leo9 Studio it’s
To serve the world with technology, business goal, and design.
This brand purpose gets reflected in their work ethics, outputs, and brand communication. The great sync of Leo9’s fantastic outputs, concepts, designs, and the team is their purpose of serving you.
For more info, here are 13 Stats that support purpose-driven brand learnings shared above.
Don’t forget to read more about business branding.