Author: Kathrin Joa Brand Purpose has been a buzzword in the corporate world for some years now. Almost 10 years have passed, since Simon Sinek’s Ted Talk «Start with a Why» in 2013. After that we have seen many «Purpose-highs» (like Nike, Dove, Always) and also many lows (like Pepsi). We feel, the «P-Word» has been often hackneyed in many meetings: agencies and clients have raised the «purpose topic» as hoped-for all-round remedy to all customer brand engagement problems.
We have no doubt brand purpose matters, not only to your customers, but also (if not especially) to your employees. As brands have become more humanized with everything from look and feel, to personality and tone of voice, they are increasingly adopting humanistic traits and hence consumers really want also to know what they believe in. As an employee, you want to be employed by companies you share values with and to work for something meaningful has become increasingly important, especially to Millennials and Gen Zs, according to a WeSpire Study and Fast Company.
Frequently, we have heard from our clients the statement «We need a brand purpose». Which is ironic. Maybe the first question to ask should be «Do we have a purpose? »
We see many brands throwing hastily created statements on their websites and promoting them through big marketing campaigns. This, while people are less trusting of media and brands today than in times past. Fake news have fanned the fires of distrust with more people saying they are unsure of what to believe in the media. The Havas Media Group also backed up this sentiment with their study, stating that only 57% of brands are trusted worldwide (as low as 32% in Western Europe).
The smell of «purpose washing» stings. And often it results in statements sounding all the same, regardless of the brand and the industry they are operating in – don’t we all want to make a better world? Don’t we all want to be connecting people?
This does not work. According to a new study from social impact consultancy DoSomething Strategic, especially younger generations aren’t buying it.
In sum, as stated by Meredith Ferguson, managing director of DoSomething Strategic, «no one wants to hear about how you’re building up communities if you don’t pay any income tax. No one wants to hear about your commitment to gender equality if your executives are all male. And no one wants to hear about how much you love the planet if your supply chain is contributing to its demise».
In relation to Brand Purpose the real focus should turn to brand authenticity and brand substance.
Every company was founded with a core purpose, but many have neglected their origins throughout the journey to scale revenue growth. Or have struggled to evolve it—usually because of complacency, inertia or the fear of polarizing customers.
We should not forget, in the process of digging up a brand purpose, to look in parallel at the deeply rooted DNA structure of the company, its history, culture its strengths and weaknesses, its differentiation potentials in the market, and ultimately assess its true capability to deliver against the purpose in the way the business is operated. Only so, we can understand the higher impact the brand can make in the world, trigger change-processes where needed, and authentically invite customers and employees to be part of the social impact action.