Brand purpose is often discussed at events and on blogs as the reason for a brand's existence. But what is brand purpose anyway?
To answer this question, we need to think of brands as people, because just like people, brands carry values, which they want to deliver to their consumers beyond the advantages of their products and services, generating a bond.
A brand that has purpose at the heart of its actions is able to transform social tensions into significant changes in society as an agent of social awareness, understanding its role in people's lives.
The benefits between brand and consumer are shared, there is an exchange of values in favor of the impact on society, where the consumer is increasingly participative and attentive to the brand's objectives.
The definition of purpose is that it presents itself as the essence of the brand, its potential and the brand's ability to evolve, how the brand inspires and is remembered by its consumers.
In practical terms, for Jaime Troiano purpose is the answer to the following question:
What would society lose if your company disappeared tomorrow?
But thinking about solutions, the question would be:
What problems does your company solve?
The answers must go beyond losing the business and solving the client's pain. They should be about why your company makes a difference, whether it inspires projects that reach people, with sustainable and transformative solutions.
Purpose is not an advertising slogan with a catchphrase, it is an idea, a feeling that expresses the soul of the organization and the vision of its founders.
A brand's purpose is different from its mission, which states what the brand does best, and from its vision of where the organization wants to go, nor is it its market positioning. Purpose is why the brand exists.
The purpose is unique and assumes its commitment to customers, stakeholders and society as a whole as a brand or company, while the cause may or may not be adopted by a company at various times and approaches during its business trajectory.
The 3P's of a brand with purpose:
According to Raja Rajamannar in Global Marketer Week, the strategies are:
- People;
- Passion;
- Profit;
This way, you can have a good business and make a difference in society.
Examples of the purpose of some brands:
Google:
Organizing the world's information and making it accessible and useful to everyone.
Dove:
We believe that beauty should be a source of confidence, not anxiety.
Purpose and marketing 5.0: The customer experience in the technological and sensory age
The era of marketing 5.0 will be marked by technology and the internet of things.
More than just interaction, the internet has given consumers the chance to voice their opinion and be heard by brands, becoming influencers.
The benefits of products and services no longer satisfy consumers; they want companies to offer values based on responsibility towards the society in which they operate, genuine respect for human beings and the environment, not just when it suits them.
The desire to consume needs to be accompanied by emotions and senses that are experienced in contact with consumer goods or services.
The 5.0 consumer wants a relationship, with engaged communication based on building a conversation when making the call, turning the commercial message into a recommendation. Using more human communication to create bonds between people and brands, building emotional memories.
Consumer trends awaken in people the desire to experiment, to be rather than to possess and accumulate goods.
According to a study carried out by the Gartner Institute, 89% of companies will be competing on consumer experience in a few years' time. Companies' strategies will no longer be focused on metrics, but on using virtual reality, relationships, emotional bonding, exploiting the five senses, and causes to turn their consumers into brand ambassadors.
Create more open and empathetic dialogues, using technology to create more human connections in business and in the world.