11 REASONS BRANDS MUST BE PURPOSE-DRIVEN AND STAND FOR SOMETHING

"To prosper over time, brands must not only deliver financial performance, but they must make a positive contribution to society and in the communities they operate in”

Brands without a sense of purpose, cannot achieve their full potential. Purpose is the reason brands are created, exist, serving as their “Why” - beyond revenue, profits and pleasing Wall Street. This also entails brands standing up for causes side-by-side with their consumer and employees. Real brands with purpose do so actively and are not shy about supporting cultural movements for the advancement of society.

But brands need to understand their intentions may require uncomfortable cultural conversations, taking on potential financial risk and will be met with resistance from those who find fault in their elected actions, POV and underlying motives.

Today, more than ever brands must stand for something and have a purpose, serve that purpose, purposely. Please find listed below key benefits of brands having purpose and taking a stand.

1. Purpose is the new digital and will change the dynamics of brands in the same fashion digital transformed the way consumers buy and brands sell products.
2. 66% of consumers believe it’s important for brands to take a stand on social/political issues.
3. Consumers do not buy what brands do. They buy why brands do it, especially MILLENNIALS & Gen-Z.
4. Turns Consumers into Advocates engaging their Hearts, Minds and creates an Emotional connection.
5. Ignites Passion in Employees as they want to work for brands they believe in, who have courage and are Purpose-Driven.
6. Creates a distinctive Market Positioning.
7. Makes The Brand Soulful and the World a Better Place.
8. Builds a Brand’s Identity: Not Advertising nor just Talk or Hash Tag Hype but is part of the Brand’s DNA, Narrative and Storytelling.
9. Creates Authenticity and Consumers can tell if a Brand’s Purpose-Centric messaging is contrived vs. actionable Story-Doing.
10. Leaves a Brand Legacy that grows with the brand and over time.
11. Higher Purpose is Higher Profits but it is a long term strategy.

Brands Have to Care, Brands Must Take Action and Brands Must Realize They Will Face Some Backlash. #Respectfully

11 REASONS SERIES:

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Drew L. Greer is a disruptive brand and product management executive who has held leadership roles at Nike, Ralph Lauren and Under Armour. Known for introducing disruptive market concepts including one of the original experiential brand spaces, influencer/brand sneaker collaborations as well as the early architect of the Nike Sportswear business. Drew is also credited with developing the product strategy that propelled the Nike Air Force 1 to the best selling sneaker of all-time. This former collegiate football player and Southern California native has a unique understanding of product, consumers and the art of storytelling.