Tuesday, June 23, 2015
Purpose Driven Brands
In our over commercialized, consumer-driven world, being purpose driven is a refreshing change. Not too long ago, a new type of corporate entity emerged - B corporations. According to www.bcorporation.net, "B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency." California has two corporate forms specifically designed for social enterprises, the Benefit Corporation and the Social Purpose Corporation. Other states have followed suit in developing these types of entities. The Body Shop, Newman's Own, Working Assets and similar companies were some of the first to operate out of a social conscience. I have written much about Patagonia and sustainability. Dove's Real Beauty campaign is another example of promoting positive change in the world. Life is Good focuses on spreading that message. Even Zappos focuses on "delivering happiness." And Change.org empowers people to drive positive change in the world.
Consider the advantages to organizations of being purpose driven - increased emotional connection to employees and customers, greater employee and customer loyalty, true employee and customer engagement, focus on win-win rather than win-lose, better employee morale and stronger commitment to the organization's success.
In 2014, Deloitte conducted its Core Beliefs and Culture survey. In that survey, it found that purpose driven organizations are much more likely to deliver strong growth and returns than non-purpose driven organizations.
And, here is the most important aspect of purpose driven organizations for brand managers - brand mission, vision, values, promise and positioning are central to the success of those organizations. The brand becomes the entity around which management, employees and customers rally.
Consider transforming your organization into a purpose driven organization with a purpose driven brand.