Brands with purpose offer customers a way to support and express something they believe in. Collectively with employees, customers and investors a business can turn the ambition of their purpose into action. Consequently creating business success, and by fulfilling their purpose benefit individuals and society.
A purpose tends to go beyond standard practices and motivations. It is often a bi-product of the business or a response to the position the business affords. Once labelled as ‘Corporate & Social Responsibility’; a practice which was quickly seen as a box ticking exercise, where words rarely lead to action; it is now an active part of a company’s day to day activity and plays an important part in brand storytelling.
It can be the difference between your business and that of your competitors in generating a sale, more importantly though, in securing an advocate. A customer who not only wants what you offer but also believes in the same values you do. These values can come from sustainability and environmental policies, recruitment practices, supply chain ethics, ties with education or community support programming.
“Brands with purpose use their unique position, expertise and capabilities to deliver on something that matters to individuals, society or the world.”
Head of Brand Strategy at ry.