What's the purpose of brand purpose?

When it comes to marketing buzz words, there are many. Some have earned their right to go down in the annuls of marketing legacy, others are passing fads, while some are so obvious you would think that the descriptor is redundant.  

Brand purpose is one of these buzz words that really started doing the rounds a couple of years ago. Didactically, it would be assumed that brand purpose is the functional set of attributes that a brand offers to the consumer, right?

Fundamentally, a brand is a promise to consumers that elevates the product or service experience. It offers consistency and quality in the offering so that a consumer knows what he or she is buying. Is brand purpose therefore the consistency of quality over time?

If brand purpose is so inextricably tied to the functional attributes of the product or service, or to the value proposition it offers consumers, why is this a relatively new concept that has gotten so much airtime from so many marketers and consumers alike over the past couple of years? The answer is both simple and complex at the same time. Brand purpose goes beyond brand promise and is the reason for existence beyond solely profitability.

Brand purpose is now dealing with higher order values that make a brand attractive to a consumer. Lower barriers to entry, in literally all industries, has dramatically heightened the competition and begun leveling the playing fields. People are more informed than ever, resulting in more savvy, demanding and vocal consumers. Price is no longer the only fundamental driver of purchase behavior. Supply chain and route to market have been transformed, and in so doing, disrupted the long-standing distribution model of many. Technology has obviously played a central role in ushering in the new world and will continue to alter the status quo.

These disruptions have meant that differentiation has become tougher than ever before. For marketers this means that lazy segmentation, targeting and pricing will no longer be enough to separate their brands from the clutter. I think that this is a good thing! For all the reasons listed above, marketers now have to go deeper in not just understanding their audience and building propositions that meet their needs, but in deeply elevating their brands far beyond that of the transactional realm.

According to Edelman research, “Belief driven buyers are now the majority in every market surveyed, across all age groups and all income levels. A brand’s stand drives both purchase intent and advocacy. Showcasing a brand’s principles or its products inspires purchase equally.” (Edelman 2018 Earned Brand report) This is significant because consumers are now purchasing brands based on what the brand stands for, as much as what the product or service itself offers.

Sounds simple right?

For years, marketers have been taught, and have practiced, fundamental marketing behaviors that showcased product and service attributes, benefits of the offering and why the vale equation of price and demand made the consumer purchase decision compelling. Even post purchase communication has been built around limiting cognitive dissonance, especially in high price purchases.

The practice of marketing has been built around many of these tried and tested principles. Some incredible brands have been born and built using these practices and have incredible inertia going forward. Many of them still hold true today. That said, the world has changed, and through evolution comes a new set of rules and by inference, expectations. What worked yesterday, or even today, will not work tomorrow. Within the marketing industry, hubris can stall progress.

Marketing is about balance.

Getting the balance between rational and emotional has always been a game that the marketer has had to play. Some prefer science, some prefer art, but most successful brands have had the combination of the two in some type of ratio. As we truly enter the 2020’s, the recipe of the marketer’s alchemy will need to be adjusted.

For small and large brands alike, brand purpose will continue to play a more integral role in winning consumers hearts and minds.  In fact, brands without a clear purpose, or those not willing to take a stand, may not even get a seat at the table in the future. Brands have the power to do incredible things, start movements, push the boundaries of innovation and make the world a better place… if they so choose.

Taking a ‘one size fit’s all’ approach is both risky and disingenuous. Brand purpose needs to be authentic and needs to personify the values of the brand itself. Some brands know what they stand for and the values that the brand epitomizes, others still have a way to go. Some brands have purpose at the very heart of what they do and who they are, while others are completely transactional in nature. Regardless of where your brand sits on this spectrum, this is going to be key in driving performance and brand health going forward, now more than ever. But saying and doing are two very different things - the surest way to lose consumers trust is to say one thing and do another.

Although this sounds obvious, walking the talk will now be more important that ever. Brands that make tough decisions and prioritize their values with the same discipline and diligence as their bottom line are the ones that will having a higher likelihood of been around beyond the next decade. Brands that say purpose is important, but continually defer to the P&L as the sole driver of the business will struggle. As marketers; as the custodians of the brands you have the privilege stewarding, this is indeed a big responsibility as you strive to leave the brand in a better place than you found it. Not everyone will get this, and not everyone will believe in this. In today’s competitive marketplace, the P&L, along with operational considerations often drive the conversation.

Not downplaying the importance of the financials of course, this is rather a call to action for marketers to take their seat at the table and play the long game. Understanding your brand, knowing your tribe, codifying the values that it stands for, and building an authentic purpose is one of the most important things you can do.

No one said this would be easy. Some of the most remarkable and tenured marketers I know, often struggle with this. I am no exception, and have often taken the obvious, road more travelled route. In addition to the often referred to ‘airy’ nature of purpose marketing is the internal politics you must play. Pressure from other functions that continually ask for budget justification and sales lift ratios as well as the ever-present promotional campaign patriarchs can make this a lonely job for the marketer. Therein lies the juxtaposition of being a modern-day marketer.  

Purpose… welcome to the club

Sources:

1.    Edelman Earned Brand Report, 2018: https://www.edelman.com/earned-brand