An explanation of creating a brand’s purpose
A good brand purpose elucidates why a business exists beyond merely generating profits. It forms the bedrock of any organization. Recently, the corporate world has experienced a dramatic paradigm shift from old-style marketing to modern purpose-driven branding. Firms that have a clear purpose usually attract the right talents and they’re able to achieve a great deal of good in society.
Still struggling to understand what brand purpose is all about? Check out this explanation to put your mind at ease. You’ll appreciate just how vital this facet really is to a company.
Here are 4 ways to create a powerful brand purpose:
Figure out what your brand is all about
It’s important to understand what your brand represents right from the get-go. As Simon Sinek rightly put it, “people don’t buy what you do, they buy why you do it.” A brand without a purpose is like a rudderless ship, always moving aimlessly without a clear destination. Before you set up shop, figure out what motivates you. Are you passionate about serving your clients or providing the best products in the market? Or do you simply want to fill a market gap? Ensure you have a clear sense of direction.
Have a clear mission
How will your brand make a change in the world? Part of the reason why most multinational companies succeed is having a clear-cut mission and distinct goals. Coca-Cola, for instance, wants to refresh the world and Walmart’s vision is to save people money so they can live better. Ensure you have well defined goals that are Specific, Measurable, Achievable, Realistic and Timely (SMART). It’s important to understand that the mission, vision and core values of your brand make up its building blocks. However, your purpose sets up the very foundation of your brand.
Understand the different types of brand purpose
Jim Stengel, author of the book ‘Grow’, states that there are five key types of brand purpose you should know about. The first involves evoking pride: some brands such as Mercedes Benz typify a satisfying life full of achievement. You could also elicit joy like Coca-Cola or impact society like Always. If you have an adventurous or creative spirit, why not inspire exploration like Airbnb? Finally, you can eliminate cultural and geographic barriers by enabling connections, like what Uber and FedEx do. Ensure you figure out which field suits you best before creating a brand purpose that influences behavior and touches lives.
Accept that your brand purpose may change with time
As your business evolves, so does your brand purpose. And it makes sense – your “why” may change as you constantly refine your products/services to improve customer experience. Be flexible enough to make the appropriate changes to your brand purpose when the time comes. In addition, have a clear sense of direction on how you’d like to give back to society. Are you interested in cause marketing, climate sustainability, CSR or something else? Your purpose should be evident in every single thing your brand does.
Creating a strong brand purpose should be the focus of every aspiring business owner.