Brand Purpose - find the one that’s right for you
In a previous blog I wrote, “boldly articulate your purpose!” Clearly and consistently tell your target audience what you stand for and why they should believe in you. If you do this well, they will seek out and pay more for your brand. This is not new you say…but when was the last time you asked your team, “Why do we do what we do?” Would they all give you the same answer? More likely than not you will get a number of disparate answers and opinions.
So what should your purpose be?
Well, we can’t all save the earth! That purpose is already taken by some significant brands who wear it proudly. However, if you were a financial company it would be hard to believe that saving the planet is genuinely your brand’s purpose. The trick for financial companies is not to be seen as “Profit first at all costs!”. Hence NAB's "more give less take". But what if you said instead that you exist to ‘improve financial literacy’ and that everything you do is about helping people get better at managing this aspect of their lives? Bear in mind that whatever you say your purpose or brand essence is, it needs to be rooted in truth.
So how do you find the one that’s right for you?
Get your team (including and especially senior management or board members) together, write down and discuss what your brand does that makes it different from the competition, what are your brand’s personality and credentials, and most importantly what is your brand’s essence or DNA? Your why? Your purpose! This can have a significant effect on your team by pulling them together and getting them to own the strategy. Be warned it’s hard for your marketing manager to run this process as a workshop. You need someone with fresh eyes that will question traditional and valued beliefs without committing political harakiri. A process like this doesn’t take too long and if you do it right it can have a profound effect on the team and make it significantly easier for the marketing team to get their new campaign approved.