In a purpose-driven business, the role of marketing changes. It shifts from
advertising products or services to building a social purpose brand ecosystem.
From one-way communication to engaging customers in purpose-inspired actions.
From paid media to earned media. From speaking to passive customers to
developing active customers who co-create new purpose products and amplify your
message – and help you fulfill your purpose aspirations.
As this social purpose
continuum
reveals, once companies adopt an authentic social purpose as the reason they
exist,
they are positioned to create meaning for their customers: Customers believe
that if they do business with that company, society is better off. Once social
purpose-driven companies implement their purpose across their operations, values
chains and relationships, everything they do (not just their advertising) tells
their story.
This shift to purpose and purpose marketing is propelled by changing customer
expectations that business play a stronger role in society. More and more
consumers identify as belief-driven buyers — nearly two-thirds, according to
Edelman’s 2020 Trust Barometer — which
means they choose/switch/avoid/boycott a brand based on its stand on societal
issues. Buying on belief is the new normal. Yet, attracting and retaining these
consumers has been a mystery — until now.
Last fall, I moderated a dialogue on the topic for the Social Purpose
Institute, a program of the United Way, with three social purpose marketing visionaries: Anne Donohoe, Marketing Advisor and global marketing executive; Chris Peacock, Chief Marketing Officer at Traction on Demand; and Peter ter Weeme, Chief Social Purpose Officer and VP of Player Experience at BCLC.
According to Anne, Chris and Peter:
-
In purpose-led brands, marketers become storytellers; and focus on
mobilizing customers, employees and stakeholders on the purpose — and on
telling their stories
-
They build their purpose into everything they do; and thus, their purpose is
communicated to their customers by the very act of conducting business
-
Customers want to know the people and values behind the brand; this becomes
part of the value proposition
-
Stakeholders help purpose-driven companies achieve their purpose and build
their brand — and hold them accountable for
it
-
Leaning into purpose attracts
customers
— and customers that hold back can be cultivated as purpose ambassadors in
the future
With retail consumers seeking stronger connections to brands, business customers
looking at the people behind the brand, and shorter attention spans, companies
that have and market a purpose can differentiate themselves from the clutter.
The biggest part of the pivot: Once your purpose is in everything you do, it
becomes an indelible part of your customer experience. By attracting customers
who believe society is better off if they do business with your company, you can
create a social movement around your brand. By growing your business this way,
your business becomes a bigger engine for social good. Your purpose provides the
“why” and purpose marketing provides the “heart.”
Purpose-driven companies are unstoppable. Just watch them — or become one!
Interested in a deeper dive? Here is a link to the webinar
discussion and the
Purpose Marketing Insight
Paper
that summarizes the discussion.
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Published Jan 25, 2021 7am EST / 4am PST / 12pm GMT / 1pm CET