Built on Purpose: Why Brand Purpose is More Than the Next Marketing Buzzword

Brand purpose has been a staple in the marketing industry for over a decade. The popular TED talk, Start with Why by Simon Sinek, outlines what purpose can do for your brand. Though he wasn’t the one to originate the term in this 2009 talk, he did explain its significance very well. The popularity of it has led to some disagreement recently, however, on whether purpose is still relevant or just a marketing buzzword. Today’s consumers are more socially conscious than ever, and in our experience, are far more likely to come back to brands that stand for something more than just making money. Trust us, your purpose matters.

What is Brand Purpose

Brand purpose is a company’s reason for existing beyond just generating profit. It’s akin to your mission — a declaration of the impact you intend to make in the world through your business. . For example, if your company is in the fitness industry, your purpose could be to empower people to create their healthiest lifestyle. Every business decision you make, therefore, is connected to this mission to help people live healthier lives, from the products you create to the services you offer.

The Controversy

As we mentioned, the idea of brand purpose has been around for more than a decade. When it was first introduced, marketers were excited to have a way to differentiate themselves in a world where technology could allow companies to replicate business models and products easily. Now, since it has been used and researched for some time, there is some controversy surrounding its relevance.

A recent Forbes article mentioned that brand purpose may not actually drive profit because research shows that consumers are likely to purchase from different brands depending on factors like price and convenience. While that is true, consumer loyalty to brands they love has actually increased over the years. Research shows that consumers are more emotionally invested in their favorite brands than they’ve ever been, viewing the shopper-brand relationship as more than just transactional.

Why Brand Purpose is Still Relevant in 2021

Your brand purpose is the foundation for your business operations.

In addition to consumers being more socially conscious than ever, your brand purpose serves as the foundation for your business operations and your digital marketing strategy.

Digital Marketing Pulls from the Brand Purpose Umbrella

What you seek to accomplish as a business lays the foundation for how you show up in your marketing channels, attract new customers, and engage with your existing ones. Your purpose is why you exist and what you aim to accomplish, and your digital marketing strategy is how you bring that to life for your audience.

Engage Your Team

Employees are leaving their jobs in droves in what has been named The Great Resignation. While there are several, very personal reasons for this, the one that is talked about the most is the fact that people are now looking for their jobs to be more than just a means of making a living. Employees want their jobs to be both purposeful and fulfilling, and both of those require there to be a significant driving force behind their role at work. By having a strong brand purpose and communicating it to your team, you allow them to take ownership of it. This leads to greater engagement, greater job satisfaction, and an overall positive impact on your company’s bottom line.

The Purpose of Hackett Brand Consulting

At the core of Hackett Brand Co. is a strong desire to be a force for good. Purpose is built into everything we do, and we aim to work with like-minded companies who are also mission-driven. For us, that means finding people who want to do good things in the world and creating a marketing strategy that will grow their business and help them make the greatest impact.

Only you know the purpose behind what you do day in and day out, but if you’re ready to expand your business, we can help! Connect with us and we can dive deeper into how you can use your brand purpose to grow your business.