Purpose in Branding: How Brand Values Resonate with Consumers?

Statistics often paint a stark reality. Imagine this: In a recent survey, 64% of consumers reported choosing, switching, or boycotting a brand based on its stance on social or political issues. This statistic underscores a powerful truth – brand purpose and values matter now more than ever.

As consumers become more discerning, they seek brands that share their beliefs and make a positive impact. In this article, we delve into the world of brand purpose and values, exploring why they are essential, how they impact consumer behavior, and how businesses can harness the power of purpose.

In today's world, consumers are not just buying products; they are buying into a brand's vision, ethics, and values. A brand's purpose has become a driving force behind purchasing decisions.

According to a recent survey conducted by Edelman, 64% of consumers worldwide are now "belief-driven buyers." This means they choose, switch, or boycott a brand based on its stance on societal or political issues.

Why Brand Purpose Has Gained Popularity?

For decades, the traditional focus of branding was to establish a strong visual identity and convey the benefits of products or services. However, times have changed. In our increasingly interconnected world, consumers are more socially and environmentally conscious than ever before. This shift in consumer behavior has led to a rise in the significance of brand purpose and values.

A brand's purpose goes beyond profit. It defines why the brand exists and what it stands for.

This purpose is rooted in the brand's values, which are its guiding principles and beliefs. When a brand's purpose and values align with those of its consumers, it creates a powerful connection.

The Impact of Brand Purpose and Values

Consumers want to support brands that share their values and beliefs. This alignment of values can have a profound impact on consumer behavior and brand loyalty.

Let's dive deeper into the key aspects of this influence:

• Building Trust: When a brand communicates its values and consistently acts in accordance with them, it builds trust with consumers. Trust is a cornerstone of brand loyalty.
• Emotional Connection: Brands that stand for something beyond profit often create a strong emotional connection with consumers. This connection can lead to increased customer retention and advocacy.
• Differentiation: In a crowded marketplace, a brand's purpose and values set it apart from the competition. Consumers are more likely to choose a brand that resonates with them on a deeper level.
• Enhancing Reputation: A brand that actively contributes to social or environmental causes enhances its reputation. This can result in positive media coverage and word-of-mouth recommendations.
• Employee Engagement: Employees are also drawn to purpose-driven organizations. A strong brand purpose can improve recruitment, retention, and overall job satisfaction.

Brand Purpose in Action: Patogonia and Ben amp; Jerry’s

Example 1:

Several brands have embraced their purpose and values, making them integral to their brand identity. One notable example is Patagonia. The outdoor clothing company has a longstanding commitment to environmental conservation and sustainability.

They use their brand not only to sell products but also to advocate for environmental causes. Patagonia's "Don't Buy This Jacket" campaign, which urged consumers to think twice before making a purchase, is a prime example of their brand purpose in action.

Example 2:

Another remarkable case is Ben & Jerry's. The ice cream company has consistently championed social and environmental issues. They use their brand to advocate for causes like climate change, racial justice, and marriage equality.

This commitment has not only fostered customer loyalty but has also made them a recognized force for positive change.

Challenges and Authenticity:

While embracing brand purpose and values is essential, it's crucial to do so authentically. Consumers are quick to detect insincerity, and any hint of 'purpose-washing' can have adverse effects. To truly succeed, a brand's commitment to its purpose must be genuine and consistent.

Moreover, not every brand needs to take on global issues. Smaller brands can have a significant impact by aligning with local causes that resonate with their audience. The key is to be true to your brand and your audience.

Wrap Up:

The statistics don't lie – brand purpose and values are not merely buzzwords; they are pivotal to a brand's success in today's conscientious consumer landscape. To thrive in this environment, brands must define their purpose, align it with their values, and communicate it authentically.

In doing so, they can foster trust, build emotional connections, and differentiate themselves from the competition. The era of belief-driven buyers is here, and it's a powerful reminder that brands, like individuals, have the capacity to stand for something greater than themselves.