If you think of some of the most successful brands, what makes them stand out? Is it the quality of their products or services? Is it the way they market themselves? The answer is something much more powerful, “purpose.”
But isn’t a brand’s “purpose” to make money? After all, isn’t that the ultimate goal for any business?
Yes, making money is certainly a part of it. However, what sets successful brands apart is their ability to create an impactful brand purpose that resonates emotionally with their target audience and builds loyalty over time. In fact, this is a core aspect of building a foundation with brand strategy consulting.
What Is Brand Purpose?
Brand purpose is the reason why a company exists beyond making profits. It defines the company’s core values and beliefs and its impact on society. A brand with a purpose goes beyond selling products or services – it aims to make a meaningful impact on people’s lives.
A brand purpose statement should be clear, concise, and authentic. It should inspire employees, customers, and stakeholders to align with the brand’s mission. Without it, a brand will struggle to connect with customers and build meaningful relationships.
Why Does Brand Purpose Matter?
Brand purpose is the driving force behind everything a brand does, from product development to marketing campaigns. A brand purpose can create a powerful emotional connection with consumers beyond just selling products.
But why does brand purpose really matter? Here are some reasons:
Differentiation
It’s not enough anymore for brands to offer affordable products or services to gain market share. Today’s customers want to align themselves with brands that share their own values and beliefs. A strong brand purpose can help differentiate your brand from competitors and attract customers looking for more than a transactional relationship.
Loyalty
When consumers connect emotionally with a brand, they are more likely to remain loyal. This means they will continue to purchase from your brand even if cheaper options are available elsewhere. In fact, research has shown that customers who connect with a brand’s purpose on an emotional level are five times more likely to remain loyal than brands that offer similar products without the same level of connection.
Employee Engagement
A clear and meaningful brand purpose can also improve employee engagement and retention. Employees who feel part of something bigger than themselves become more invested in their work and are more likely to stay with the organization long-term.
How Brand Purpose Builds a Connection
If you think about what makes you loyal to specific brands, chances are it’s more than quality products or services. After all, very few products or services available in marketplaces now can’t be found elsewhere.
So what sets your favorite brands apart for you? It’s likely the emotional connection created by their brand purpose. It may not even be something you notice consciously, but you can feel it when engaging with the brand. That’s part of brand marketing, which is covered in the best books on branding.
Brand purpose is powerful because it speaks to people’s hearts and minds. It tells them that this company cares about more than just profits – it cares about making a positive difference in the world.
Brand purpose bridges the gap between a brand and its customers, creating an authentic connection with the company that goes beyond the bottom line. This connection can be developed further through marketing campaigns, storytelling, and experiences that meaningfully reinforce the brand’s purpose.
For example, Nike’s iconic “Just Do It” campaign is an excellent example of how a brand can use its purpose to create an emotional connection with customers. The message speaks to athletes everywhere who strive for excellence and inspires them to reach beyond their limits.
How to Craft a Brand Purpose Statement
Crafting a brand purpose statement may seem daunting initially, but following these steps can create a powerful message reflecting your brand’s identity.
Step 1: Define Your Brand’s Values
Before crafting your brand purpose statement, it’s important to identify the core values that guide your business. These values should align with what matters most to your target audience and set you apart from competitors. Consider conducting surveys or focus groups to understand better what drives your customers’ loyalty.
Step 2: Identify Your Brand’s Mission
Your mission should clearly state what you do and who you serve. This should be aligned with the values identified in step one. Think about how your products or services positively impact people’s lives or society as a whole.
Step 3: Envision Your Brand’s Future
Your vision should be an aspirational statement that captures where you want to take your company in the future. This should be ambitious yet achievable, inspiring both employees and customers alike.
Step 4: Combine Your Values, Mission, and Vision into One Statement
Now that you’ve defined each element of your brand identity separately, it’s time to combine them into one concise statement. This will be the foundation for all of your branding efforts moving forward.
Start Connecting With Your Customers on a Deeper Level
Your brand is more than a logo, a tagline, or brand typography. Brand purpose is one of the most powerful tools to create a strong customer connection and build long-term loyalty. By crafting an authentic mission statement that speaks to your target audience on an emotional level, you can drive more sales and engagement for your business. With these steps in hand, you’re ready to connect with your customers on a deeper level.
