ACTION IS DRIVEN BY VALUES AND MARKETING BY PURPOSE
TRENDS for 2019: EVERYTHING SHOULD HAPPEN FOR A REASON
ACTION IS DRIVEN BY VALUES AND MARKETING BY PURPOSE
Consumers of today are conscious and motivated to make the world a better place. Increasingly, people make purchase decisions based on their values and they expect the brands they support to do the same. That is why purpose-driven marketing is a booming trend - and most probably a one to stay. We believe businesses need to take responsibility by taking part in delivering social and environmental value along striving to achieve business goals.
Consumers are increasingly interested in social responsibility and sustainability, and at the same time hold businesses responsible for their actions. To succeed (and to contribute to the society and the planet) businesses need to play by the rules of their customers’ values - namely getting responsible and boosting sustainability. Brands who connect their business to a bigger purpose tend to please conscious consumers, especially the younger generations. Purpose-driven marketing is an essential tool to communicate your values to your audiences by focusing on the “why” of your business. The brands that are able to answer the “why” efficiently are the ones to succeed. The best brands are based on a narrative that makes it easy to identify and create a bond with. Trust and loyalty is built upon that narrative.
A successful corporate social responsibility strategy and value-driven marketing strategy need to be founded on long-term goals and aligned with the brand. Moreover, the strategies need to appeal to the present and potential customers as well as the company’s employees. Customers are more loyal to brands that are connected to a bigger purpose than maximizing profits. That said, according to a 2018 Cone/Porter Novelli purpose study eight out of ten Americans feel, as opposed to traditional brands, a stronger connection to brands that are based on purpose and societal values. The very study also suggests that people are more keen on sharing content from purpose-driven brands on social media than that of traditional brands.
Pick a cause that speaks to your audience
For purpose-driven marketing to be effective and successful, your company needs to engage with a cause that speaks to your audiences and furthers the selected social impact. The CSR topic needs to be connected to your company’s purpose - a detached CSR strategy can seem fake, being detrimental to the company’s brand image.
Outdoor clothing and supplies company Patagonia is an excellent example of CSR that works. Patagonia Action Works program is a case of corporate social responsibility, which seeks to bring together activists and volunteers with environmental causes and charities locally. The program is inspired by environmental protection and is in line with Patagonia’s general brand message, as Patagonia is known for focusing its CSR on environmental issues.
Consistency is key
The chosen cause needs to be meaningful to your customers and preferably connect to your business in a relevant way. Other than that, you need to stick to the chosen cause. By focusing on different causes and topics on your CSR strategy you’re likely to confuse your customers and debilitate the effect and impact. That would lead to a weakened brand message. By being consistent, you’re letting the consumers know that your chosen cause is authentically meaningful to you. A focused CSR strategy gives your brand a purpose and enables differentiation.
Driving social change
The world is rapidly shrinking. Thanks to technological development, we’re kept up to date with the current events around the world. At the same time, technology enables us to travel anywhere, anytime. It’s predicted, that the most influential brands of the coming years are the enablers of social change. This is an important issue to keep in mind since consumers of today and tomorrow are most likely to acknowledge these brands.
Especially young generations are more likely to support brands with a sturdy set of values and a connection to bigger purpose. Young people select both jobs and brands based on company values and whether or not the company goals are in line with creating social value. For Millennials, a sense of purpose and experiencing fulfilment at work are major factors when picking and choosing employers.
Differentiate and succeed with purpose-driven marketing
Purpose-driven marketing does not only have an impact on your customers, but it has the ability to reconfigure the whole business. Linking your company to a wider purpose and responsible values positions you as an attractive employer as well. Moreover, a purpose can rank your company higher in the eyes of investors. In the best case scenario, your company can become a driving force for social change by bringing people together to work for a common goal.
Social responsibility and purpose are key success factors for brands. Not only do they help you to reach more customers, but they also offer you a chance to make the world a better place. Purpose-driven marketing will help you differentiate from your competitors by communicating to the conscious consumers, that you’re not solely after maximization of profits.
To know where to reach your audience with a purposeful message, read how to select the right marketing channels.
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