Coming up on a full year of COVID-19, a year that has brought more time and space for reflection than ever before, it seems like nearly everyone has done the work to figure out, or at least start asking questions around, what their individual purpose is. In addition to the pandemic, heated political discourse, and the larger acknowledgment of how systemic racism plagues every aspect of our lives has brought the contemplation of “purpose” to the forefront. It’s not just average citizens going deep on purpose, it’s brands too, who are thinking about their missions and visions.
Savvy brands have been purpose-driven for years. The Internet brought transparency to consumer relationships with brands and in the early aughts, the world saw a shift, with more global brands embracing authentic and often pro-social missions, and becoming more in tune with customer passions. Many companies began to embrace purpose-driven practices as a core differentiator for talent and growth. And today, Gen Z has emerged as perhaps what is society’s most purpose-driven generation yet, demanding greater transparency by brands and calling out some companies for being performative or less than authentic. This need for transparency around purpose has grown exponentially in the last year.
However, there’s a big difference between saying a brand is purpose-driven and actually building and leading a purpose-driven brand. Most companies have a mission and vision, and the company’s purpose should be core to both of those statements. Showcasing a brand’s purpose should not be a one-off marketing strategy, but rather infused into every business decision – from the products or solutions offered to the partnerships made. While a brand’s purpose should be integrated into every part of the business, there are two key elements that are essential to ensuring success today – and both have to do with people.
The first group of people is the brand’s employee base. Today, more people than ever strive to work for brands that share their personal beliefs and values. This shouldn’t be a surprise, given how consumer sentiment has changed in the last 10 years. Employees should be a brand’s #1 advocate – especially a purpose-driven brand. Without the support of employees, there is no way for a brand to be successful in exemplifying its purpose every day. And the most impactful way to ensure the team supports the brand? Open up a two-way line of communication across the entire organization to encourage non-hierarchical collaboration. Invite employees of all levels to share how their personal values align with the company’s purpose and are open to evolving accordingly.
The second group of stakeholders is, of course, a brand’s customers. Beginning in the 1950s, when Madison Avenue became synonymous with advertising, brands have relied on consumer sentiment to guide their business decisions. Since then, consumers have continually been in the driver's seat, and now more than ever insist that the brands they support show radical transparency and practice meaningful social responsibility. The difference between consumer sentiment 10 years ago and today is that consumers expect – if not require – brands to follow through on their promises. It is no longer enough for brands to make a one-time statement about their purpose. In fact, brands should begin going a step further and stop waiting for their consumers and society to hold them accountable. In addition to incorporating purpose-driven messaging into daily communication with customers, formal communication around corporate social responsibility (CSR) should be built into quarterly company planning.
As individuals and as a society, 2020 brought conversations around purpose to a climax – the year required us to analyze how we will move forward in the future. And just as consumers have individually come to this reckoning so have brands. Brands with a strong purpose will continue to see success in the future as they continue to consider how societal changes impact their customers and lead from a place of intention. Not only will these brands reap typical business benefits, but they will also contribute to the overarching good of society.
Emma Wolfe, Vice President