eBusiness Weekly
Leslie Mupeti
Purpose-driven marketing has become a buzzword in recent years as more consumers demand that the brands they engage with have a wider impact beyond just their bottom line. Consumers now want to support brands that champion social and environmental causes they believe in. Purpose-driven marketing helps companies create a lasting and positive impact on society while also increasing business performance. In this article, we explore the concept of purpose-driven marketing, why it matters today, and how companies can incorporate it into their marketing strategies.
What is purpose driven marketing?
Purpose-driven marketing is a marketing strategy that focuses on promoting a brand’s purpose, values and social or environmental mission. The purpose of this strategy is to connect with consumers on a deeper level by emphasising the brand’s commitment to creating social and environmental impact beyond just selling products or services.
The concept of purpose-driven marketing has its roots in corporate social responsibility (CSR), which has been a key focus for companies since the 1950s. However, it wasn’t until the 21st century that brands began to really focus on their higher purpose and how it could be used to differentiate themselves in the market.
In the early 2000s, brands like Ben & Jerry’s and The Body Shop became known for their commitment to social and environmental issues, setting the stage for other brands to follow suit. Today, purpose-driven marketing has become a mainstream strategy, embraced by companies of all sizes and across various industries. Brands like Patagonia, TOMS, and Warby Parker have been particularly successful in using their purpose as a key differentiator in the market.
TOMS Shoes is a shoe company that operates on a “one for one” business model. For every pair of shoes purchased, TOMS donates a pair of shoes to a child in need.
TOMS Shoes in particular has built a strong brand around its purpose, which is to provide shoes to people in need. The company has developed an emotional connection with its customers by sharing stories of the impact its donations have made. This purpose-driven marketing strategy has been hugely successful, and TOMS Shoes has become a well-respected brand that is known for its commitment to social good.
In addition to its “one for one”programme, TOMS has expanded its purpose-driven marketing to include other social and environmental causes, such as safe water initiatives and ethical manufacturing. By incorporating these values into its marketing, TOMS has built a loyal customer base that shares its values and supports its mission.
The rise of purpose-driven marketing can be attributed to a number of factors, including a growing consumer interest in social and environmental issues, the decline of trust in traditional advertising and the increasing importance of social media in shaping consumer perception of brands. In response to these trends, purpose-driven marketing has become a way for businesses to build trust with consumers, differentiate themselves from competitors, and make a positive impact on society and the environment.
What are the benefits of purpose driven marketing?
Purpose-driven marketing offers a range of benefits for businesses that are looking to build a stronger brand and connect with consumers on a deeper level. Here are some of the key benefits of purpose-driven marketing:
- Increased customer loyalty
By demonstrating a commitment to a higher purpose, brands can attract and retain customers who share their values. Consumers are more likely to be loyal to a brand that stands for something bigger than just selling products or services.
- Differentiation
Purpose-driven marketing can help businesses differentiate themselves from competitors in a crowded market. By focusing on a higher purpose, brands can carve out a unique identity for themselves that goes beyond just product or service features.
- Improved brand reputation
Brands that are committed to a higher purpose are seen as more trustworthy and socially responsible, which can lead to a better reputation and improved customer perception.
- Employee engagement
Purpose-driven marketing can also have a positive impact on employee engagement. When employees feel that they are part of a company that is making a positive impact on society, they are more likely to be motivated and engaged in their work.
- Increased profitability
Purpose-driven marketing can also lead to increased profitability in the long run. By building a loyal customer base that trusts and values the brand, businesses can increase revenue and improve profitability over time.
- Positive social and environmental impact
Ultimately, purpose-driven marketing is about using business as a force for good. By focusing on a higher purpose, brands can make a positive impact on society and the environment, which can lead to a better world for everyone.
How do I build a purpose driven brand?
Building a purpose-driven marketing strategy for your brand is an excellent way to differentiate yourself from your competitors and connect with your customers on a deeper level. Here are some steps to help you get started:
- Define your brand purpose
Your brand purpose should be a clear statement of why your brand exists and what it stands for. This statement should be inspiring, meaningful, and actionable.
- Align your purpose with your target audience
You need to define your target audience and understand their values, beliefs, and interests. Once you understand your audience, you can align your brand purpose with their needs and preferences.
- Create a brand story that reflects your purpose
Your brand story should be a narrative that gives context to your purpose, which creates an emotional connection with your audience. It should be authentic and engaging.
- Develop a marketing campaign that reflects your purpose
Once you have defined your brand purpose, aligned it with your target audience, and created a brand story that reflects your purpose, you need to develop a marketing campaign that communicates your purpose in a clear and compelling way.
- Measure the impact of your purpose-driven marketing
It is important to track and measure the impact of your marketing campaign, so you can determine its effectiveness and make any necessary adjustments.
Remember that building a purpose-driven marketing strategy is an ongoing process. You need to constantly evaluate your purpose, your audience, your brand story, and your marketing campaign to stay relevant and connected with your customers.
In conclusion, purpose-driven marketing is not just a buzzword or a trend — it’s a way of doing business that is becoming increasingly important in today’s marketplace. By aligning your brand with a higher purpose, you can differentiate yourself from your competitors, build a strong emotional connection with your customers, and have a positive impact on society and the environment.
Purpose-driven marketing is not only good for business, but it’s also good for the world. So if you haven’t already, it’s time to start thinking about your brand’s purpose and how you can integrate it into your marketing strategy.
Leslie Mupeti is a brand strategist and creative Innovator. He can be reached for feedback on [email protected] or +263 785 324 230. His Twitter and Facebook is @lesmupeti.
