We believe there is a purpose-profit loop, where conscious companies have better odds of actually creating more impact and more profit. Here is why brands need steadfast purpose to not just survive, but thrive, in a society where change is the only constant.
As Winston Churchill once said, "Never let a good crisis go to waste." In
today's unsettling environment, brands that continue to thrive in the face of
crisis have one important quality in common: their actions are guided by
purpose.
Recent cultural events have proven that purpose — perhaps once considered
another empty phrase on a brand map — is in fact a powerful force that inspires
brand behavior both inside and outside of a company.
In fact, we believe there is a purpose-profit
loop,
where the companies that add good and act with transparency will have better
odds of actually creating more impact and more profit. Simply put, consumers
today are more and more likely to align their personal values with the brands
they
support
with their time and money.
Read our
view
on why brands need steadfast purpose to not just survive, but thrive, in a
society where change is the only constant. ...
Published Dec 18, 2020 7am EST / 4am PST / 12pm GMT / 1pm CET
Allyssa Kennedy is an Account Director within Barkley's Purpose and Sustainability group. For more than a decade, Allyssa has helped brands define, live and communicate their purpose inside and outside of their organizations.
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