Purpose: The Compass for Your Brand's Success

In the inaugural edition of Marketing That Matters, I shared why being purpose-driven is more than a strategy. It should be the foundation of your brand to inspire loyalty, drive growth, and make a lasting impact. Now, let’s go a step further and look at how purpose acts as a compass for navigating today’s business environment.

Why Your Purpose Should Be the Center of Your Brand?

Purpose isn’t just a nice-to-have – it’s essential in today’s fast-paced, consumer-driven world. People don’t just buy what you sell—they buy because of what you believe. Research shows that about 70% of Gen Z and Millennials want brands to take a stand on issues that are important to them. If brands don't have a clear and real purpose, they'll risk losing out on this group who are the future of their business!?

Your purpose is what grounds you and is your north star, and when you align your marketing efforts with it, your community will notice—and so will your bottom line.

The Key Elements of a Purpose-Driven Brand?

Want to ensure your purpose drives your marketing? Focus on these elements:

Authenticity Matters: Your audience can tell if your purpose is just a marketing gimmick. Ensure that every action—from product development to community engagement and everything in between—aligns with your stated brand purpose. Authenticity creates trust, and trust builds lasting relationships.

Connection Is Key: Purpose creates emotional bonds that go beyond transactional relationships. Share your “why” through storytelling, and invite your audience to be part of the journey. Remember, people support brands with purpose that reflect their own values.

Consistency Wins: Your purpose should shine through in every touchpoint—social media, email campaigns, customer interactions, and beyond. Consistency reinforces credibility and helps your message stick.

Brand Spotlights: Purpose in Action?

If you’re wondering how to translate purpose into impactful action, take a look at these examples:

Warby Parker

Brand Purpose Statement: To inspire and impact the world with vision, purpose, and style.

From their start in 2010, a purpose-driven approach has been at the heart of their business model and success. Warby Parker offers affordable eyewear and donates a pair of glasses for every purchase made. Their Buy a Pair, Give a Pair program has distributed over 15 million pairs of glasses to people in need worldwide. In a crowded marketplace, their unique shopping experience and their commitment to social impact sets them apart from competitors. So much so that they hit their first year revenue goal in 3 weeks! Their 2024 revenue is projected to be between $765 million and $768 million, which is a 14-15% growth over 2023.

LEGO

Brand Purpose Statement: To inspire and develop the builders of tomorrow.?

Known for inspiring creativity, LEGO has taken their purpose further with initiatives like using sustainable materials for their bricks and committing to projects that promote learning and development for children. Because of these efforts, the company went from experiencing losses of $300 million a year to becoming one of the most successful (and beloved!) brands in the world. Get this--LEGO even absorbs the higher costs of sustainable materials without passing them on to consumers, truly demonstrating commitment to its purpose. In the first half of 2024, they reported revenue of $3.5 billion.?

Your Purpose Action Plan?

Here’s your mission for this week, should you accept it: Reflect on the key elements of authenticity, connection, and consistency. Identify one area in your marketing where your purpose could shine brighter. For example:

• Could you add a purpose-driven story to your next social post?
• Is there a way to involve your community more directly in your purpose?
• Are your actions aligning with the values you claim to uphold?

Share and tag me on LinkedIn. I’d love to see how you’re using your purpose to stand out!

What’s Next??

In the next edition of Marketing That Matters, I'll discuss the art of crafting your brand’s purpose-driven story—one that resonates deeply with your community and sets the stage for lasting impact. Until then, remember: Purpose isn’t just your compass—it’s what sets you apart from your competitors.

If you need some help (and inspiration) in defining or refining your brand purpose, join me at my Purposeful Profit workshop on February 11th! There are limited spots available. (Psst...hit me up for a registration discount code)

Can I ask a favor? Subscribe, share, and let’s amplify inspiring change through marketing that truly matters!