What are Purpose-Driven Brands?
A purpose-driven (or cause-driven) brand is one that is motivated by a core mission that ultimately transcends the product or service that is being provided at first glance. Purpose-driven brands exist with the utmost intention of making the world a better place by solving the needs or problems faced by society (think hunger-ending, polar ice cap-saving level problems), and they achieve this by working towards a unified goal that drives their daily work, including generating a profit.
How is it expressed?
Purpose-driven brands express their aim through their mission statement and brand goals as well as through their marketing strategy, visual identity, company culture and company practices. Hell, even through the kind of coffee they buy.
Companies can have a profound effect on people and connect with them on a deeper level by:
- Telling their story in a clear and impactful manner that is sure to reach its target audience.
- Keeping the wellbeing of people and the planet at the core of their decisions.
- Being transparent and accountable as they actively pursue their goals.
- Constantly revisiting purpose and letting it become a part of company culture as it evolves
Why are more Purpose-Driven Brands showing up?
It seems like most brands are now aligned with a larger mission statement. And this is what excites us. Both developing and established brands are placing purpose at the forefront of what they do and how they do it, and this is being influenced by three main factors:
- Purpose differentiates: Studies have shown that companies with a strong mission statement have higher growth and productivity rates, and companies themselves report a 30% higher innovation levels and 40% workforce retention. By aligning with a purpose they differentiate themselves from competing brands and garner support.
- The People: Purpose-driven brands have an effect on people in profound ways. This motivates both customers and the workforce to become loyal to them. People want to work for and support companies that share their own values, companies that are actually having a positive impact on the planet. This is particularly true with Millenials and Gen-Zers who prioritize taking care of the environment, as well as social and political issues that align with their beliefs.
- Purpose is at their core: Businesses that embody a purpose-driven ethos actually have it in their DNA, as they aim to leave a lasting impact on their consumers’ lives and their communities. They aim to engage customers and help them reach their goals.
Examples of Purpose-Driven Brands
Purpose-driven brands can be found all along the spectrum. Whether it’s Nike with their goal of proving equality both in sports and all arenas of life, to Tofurky aiming to advocate for animal welfare and sustainability, to Marley’s Monsters which provides various alternatives to single use waste products. These are the heroes we need, and maybe even the heroes we deserve?
What are your favorite purpose-driven brands?
Sources:
Cardello, J. (2020, April 17). 4 brands who mastered purpose-driven marketing. 4 Brands Who Mastered Purpose-Driven Marketing. Retrieved February 15, 2022, from https://blog.unincorporated.com/purpose-driven-marketing
Lehojärvi, E. (2020, September 9). Why you should opt for a purpose-driven brand strategy. Brand and Digital Asset Management Insights Blog. Retrieved February 14, 2022, from https://insights.lytho.com/purpose-driven-brand-strategy
O’Brien, D., Stephan, A. R., Kounkel, S., & Main, A. (2019, October 15). Purpose is everything. Deloitte Insights. Retrieved February 15, 2022, from https://www2.deloitte.com/us/en/insights/topics/marketing-and-sales-operations/global-marketing-trends/2020/purpose-driven-companies.html/#endnote-sup-6
