Brand Purpose Matters. Share Your Brand’s Purpose With Consumers
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Brand Purpose Matters. Share Your Brand’s Purpose With Consumers.
For the past decade or so, there has been a perception in marketing circles that a brand’s purpose, and the impact it has on society, is becoming an important factor in consumer buying decisions. Especially over the past few years, more and more brands have incorporated their brand’s purpose into their marketing strategies.
But does a brand’s purpose really impact consumer behavior? And should it be part of your marketing and advertising strategies?
Research suggests that the answer to both of those questions is an emphatic “yes.”
We will examine consumer attitudes about brand purpose and how it influences their buying positions. Additionally, we will recommend ways for brands to publicize the work that they do. Consumers want to know about the good your brand does, but you need to take care when you incorporate it into your marketing message.
A recent study by Razorfish, The Truths, Myths, Nuances Behind Purpose, found that not only do consumers expect brands to make a positive impact on society, they expect them to be a primary driver of societal change. In fact, when asked who they thought would be more likely to make the world a better place, the top 3 were: individuals first, brands second, and government third.
Yes, you read that right. Consumers expect more of brands than their elected officials.
The study also found that knowing that a brand makes a positive impact on society makes them more likely to purchase their goods and services – and that effect is present across age and income cohorts.
Overall, the Razorfish study found 62% of consumers said that brand purpose is important to them when making a buying decision, and 40% actually research a brand’s values. In fact, a brand’s purpose has more influence on their decision than new features or discounts.
These are not just the results of one survey. A study done by Accenture, To Affinity and Beyond, found that 66% of consumers said that a brand’s culture and “doing what is says it will do” is the second most important factor when choosing a brand.
Sidebar: bonus points to Accenture for the clever study title.
The opportunity to capitalize on brand purpose is not limited to national brands. In fact, it could be just as important for local brands, as 7 in 10 respondents agreed it is important for brands to make a positive impact on their local community.
The impact of brand purpose is not limited to making a purchase. The Razorfish study also found that awareness of a brand’s purpose was likely to reduce buyer’s remorse and encourage repeat purchase.
As one of their survey respondents put it, “I've been to Aldi and they're not as sustainable, but they treat their employees really, really well. You would just go there anyway, but then all of a sudden, you're like, oh, they do some cool stuff. That definitely helps make you feel better about going back, particularly if you had a positive experience.”
Informing Consumers About Your Purpose
So how do you make sure that potential customers know your purpose? It’s a 2-part question. Not only do you have to consider the medium you use to deliver your message, but you need to consider the style in which you deliver it.
When Razorfish asked consumers where they expected to find out about a brand’s purpose, their top 3 responses were: the brand’s website, on their social media platforms, and in their advertising.
If you were tepid about broadcasting your company’s positive work, you should find this reassuring. Consumers are expecting brands to advertise what they do.
At Foundry425, we have been able to measure a significant brand lift when we have run purpose-driven campaigns. In fact, we have a case study about how a campaign we did promoting Star Tribune’s Connect Grant.
Just as important as where you deliver your message is how you deliver it. Especially when publicizing your brand purpose, the style with which you deliver your message is important. Consider:
The format in which you present your message. Make sure that it is well-suited for the environment in which it will run. For example, if you plan to run it on social media, consider video.
The authenticity of the message. Deliver it in a voice that is consistent with your brand, make sure that your purpose is genuine, and that you’re honest about your contributions.
You need to be sincere, not overly serious. As Advertising Week notes, “Purpose does not always have to be serious. It can be fun.” But it does need to be sincere.
Let Us Help You Share Your Story
At Foundry425, we have been able to successfully deliver brand-purpose messages in multiple formats. We have used video to evoke an emotional response to Star Tribune’s mission. Infographic’s have delivered the impact of SPIRE Credit Union’s Giving Back program. And native content was an effective way for us to share Comcast’s work on digital equity.
References
Razorfish: The Truths, Myths, Nuances Behind Purpose
Accenture: To Affinity and Beyond
Advertising Week: Why Brand Purpose is Your Business Value
Attest: Generational Trends Report
Foundry425: Diversity, Equity and Inclusion in Content Marketing