What’s your purpose?
It’s a simple question without a simple answer.
The main purpose of your business might be to make money, or provide for your family. For some, it’s simply a hobby that turned into something greater with no thought of purpose whatsoever. There’s no right or wrong answer to this question, but there are better answers.
Let us explain with a few sobering statistics:
- Almost 80 percent of consumers polled are more likely to purchase from a company that can show how it makes a real difference in people’s lives.
- Nearly 85 percent of consumers expect companies to become actively involved in solving worldwide issues.
- 87 percent of consumers polled say they want a meaningful relationship with brands, but only 23 percent feel like they have one.
Unfortunately, making money and being successful aren’t the kinds of purpose statements consumers look for. They’re looking for a bit more.
Maybe your brand has an environmental purpose, like Lush that uses naked packaging with all their products. Maybe it’s about fostering connections in your community, as is the case at Work Nicer. Or maybe it’s about encouraging self-confidence among women, like Dove’s Real Beauty Campaign did back in 2004.
Once you’ve established your purpose, the next question becomes, “Exactly how can that purpose help your brand perform better?”
It can make your product or service addictive
We’re not just talking about irresistible marketing here. We’re talking about the kind of marketing that shows people they really need your brand in their life. The kind of marketing that they remember when the TV is off and the computer is shut down for the night. Sure, the quality of your products or services matter, but your purpose can be the icing on the irresistible cake.
Not only are 90 percent of people willing to boycott companies with irresponsible practices, 57 percent would purchase a product of lesser quality as long as the brand was more socially or environmentally responsible.
If you have a brand worth supporting, people will want to support it. With a great product, they’ll have no reason not to come back to you time and time again, giving you an addictive quality that will make your brand more successful than ever.
It creates a community of shared values, which can attract more customers
We’re more connected than ever. Through the internet, cell phones, and social media, we all love sharing what we’re passionate about and taking a stand with causes we connect with. You can use all that to your advantage by having a purpose.
If your company stands for something, people will want to get in on what you stand for. You can develop a community of like-minded customers, and a good chunk of them will tell their friends and family about you, sending even more customers your way.
It can clarify your mission, spurring new ideas
It’s easy to lose your vision. Most entrepreneurs have at one point or another. It becomes all about adding new products or making your services seem fresh. But, it really pays off to sit down and clarify your mission by understanding your purpose.
If you know what your brand stands for, you can become more active in your local and the global community, which will encourage consumers to spend more. Not only will your business be more successful, you can feel good knowing that you’re doing something good. A full 72 percent of consumers have admitted to donating to a charity at the register, which means you can garner more support for a cause you’re close to.
Developing a purpose for your brand isn’t always easy, but it can greatly impact the success of your business.
If you’re having a hard time zeroing in on a purpose, contact Bottom Line Marketing. We can help you discover your purpose so you can create an impactful marketing campaign that enables you to share that purpose with the world.