How the brand purpose conversation is shifting
Brand purpose has long been a hot topic, but might come under threat as companies are forced to make difficult, and previously unforeseen, choices about their business future during this Covid-19 pandemic. Meeting short-term needs is an obvious priority but do consider decisions made today, have the potential to define how consumers & followers view a business, and its products, for many years to come.
A brand purpose is essentially a brand's reason for being beyond making money.
The rise in conscientious consumers means that you need to think about the social, environmental, ecological and political position of your brand.
As a guide to building a robust brand purpose that feeds directly into business success, we can follow several routes. Review your company's origins and assess if it has ensuring resonance, or focus on a specific capability where your brand excels. All, of course, with honesty and humility.
People are smart. They’re paying attention. With COVID-19 forcing billions of people to stay home and be glued to the internet, any brand caught putting profit before purpose faces a backlash from customers with potential long-term consequences.
So what can you do?
1. Review your brand story and see if it sticks
These stories can often focus too much on the founders vision, but holding true to founding principles only works if they’re relevant to people.
2. Don’t solve everything
Detail the what you're doing to help the Covid-19 situation on your website and show the world you’re a model citizen. Instead of a million small initiatives, figure out one way to turn what your company does best into something great for the world.
3. Be honest, be humble
When you make a positive impact, show and then tell. Many companies do amazing things but don’t dedicate the resources or storytellers to share. A company that leads with transparency is more likely to get a second chance and even attract new customers who want that kind of behavior from the brands they choose.