The power of brand purpose

Matt Davies
Jan 25, 2018 · 4 min read

If you can communicate it, “purpose” is powerful. Why? Because if your purpose links to mine I’m more likely to join your cause. If it doesn’t, I will at least know where to go in future or where to refer others to should I need to.

Image for post
Image for post
Source: Unsplash by Nicholas Green

A brand is not a logo. “Brand” is the collective meaning that your audience attaches to your organisation. “Branding” is the attempt to manage that meaning.

Often the idea of managing meaning can be despised and looked on as a waste of time, effort and money. If you are thinking this, or having to deal with others within your leadership team that might think this, this post is for you.

In this post I want to explore the ever increasing importance of discovering and effectively seeking to communicate your brand purpose. Not only for customers but also for your internal teams. I don’t want to use fluffy words but have sort to share findings from various global reports. Numbers don’t lie.

Purpose Driven Consumers

Image for post
Image for post

In the 2017 Edelman Earned Brand report 50%, of the 14,000 respondents from 14 countries, 50% identified themselves as “belief-driven”. 67% of these claimed to of made a first time purchasing decision because they agreed with a brands position on a topic. 65% stated they would not buy from a brand when it stays silent on an issue they feel it has an obligation to address. What issues is your brand getting involved in? What is it you stand for and believe?

Image for post
Image for post

It seems that in todays busy age of material goods what we are all increasing seeking is not stuff, but meaning. This is especially the case in the western world. Brands which effectively know and communicate meaning and purpose will therefore win — IF that purpose appeals to their target audiences.

Purpose Driven Employees

A recent study called ‘Purpose at Work’ that was commissioned by LinkedIn and research company, Imperative, revealed some very interesting insights. It stated that 75% of purpose-oriented people are satisfied their jobs whilst 64% who are not purpose-oriented would say they were satisfied.

Image for post
Image for post

Another study from 2016 stated that 87% of Millennials believe that “the success of a business should be measured in terms of more than just its financial performance”.

Image for post
Image for post

To attract purpose driven people you need to be purpose driven (above and beyond making money!).

Purpose Driven Businesses

Image for post
Image for post

The ‘Meaningful Brands’ 2017 paper by Havas Group, reported that over the last ten years the most meaningful brands outperformed the stock market by 206%. Of the 300,000 people interviewed, 75% expected brands to make more of a contribution to their wellbeing and quality of life.

Image for post
Image for post

The power of purpose

The facts are that ‘purpose’ effects the bottom line and if trends continue it will be almost inconceivable that businesses existed who did not know or communicate their “why”.

The management of meaning (AKA ‘branding’) is more important than ever for businesses who want to not only survive but thrive.

Matt Davies also writes about creativity, branding and marketing here

Image for post
Image for post

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch

Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore

Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store