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Establishing Your Brand’s Purpose

Brand Building - Building Purpose

Establishing Your Brand’s Purpose

What made you get out of bed and go to work this morning? It’s easy to simply say you need money to support your family and future, indeed we all have those needs, but why did you choose your particular method of income? That answer is quite personal, and completely individual to you based on your personality, sense of purpose and background story. Similarly, smart businesses and brands have a personality, purpose and story that inspires motivation and in turn generates revenue. How?

We all understand that products and services use unique selling points to influence purchase on an objective level - such as innovative features, design or exceptional customer service. Branding, on the other hand, is all about motivating purchase by connecting products to consumers on a personal level. Consider how the entire luxury goods market is built on brand alone, having very little to do with functionality and what the product is, alternatively shifting the focus to the prestige and status the product represents. All watches may tell the time, but no watch company can tell their shareholders the same success seen by Rolex, with an estimated $US11.6 billion in annual retail sales.

In our Brand Building blog series, we are delving into the steps and considerations involved in building a strong and valuable brand. Following on from our previous article  Brand Building: The Value of a Strong Brand , we now turn our attention to how the philosophy, values and purpose of a business are closely interwoven with branding. A strong brand represents everything you stand for and will set you apart from your competition. So what is that exactly, what do you stand for?

Using Purpose and Narrative in Branding

Let’s start with a couple of famous examples. Lego, one of the most valuable brands in the world, is on a mission ‘to inspire and develop the builders of tomorrow’ through using their products to promote creativity, problem-solving and collaboration. This purpose steers all business decisions, marketing activity and content worldwide. The Nike brand does not focus on the design or innovation of its clothing at all, instead it’s about personally motivating consumers to chase their goals and dreams, reinforced by the ‘Just Do It’ slogan. Apple is another famous company that is leveraging storytelling with their brand, to the extent that they literally used a song titled ‘Story of an Artist’ for one of their campaigns . In this aspirational TV media piece, you will notice Apple doesn’t mention their technology once, opting instead to shine the light on their target market interacting with the product, and hinting at the endless possibilities of what one can achieve.

More powerful than dry factual arguments, using narrative in branding is memorable, compelling and helps your business stand out from the competition. The key is to be authentic to your purpose, to articulate what meaningful role your business plays in people’s lives, and what your brand is trying to achieve for consumers. What ‘pain point’ do you erase? Do you make people’s lives more entertaining, more relevant or more efficient?

Passion and Purpose Bolsters Customer Proposition

In today’s globalized world, consumer choice is higher than ever before, and as advertising abounds the modern fickle customer can simply switch to whichever brand best serves their needs at any given moment. In order to compel people to take notice, communicating why a business makes its products is now as important as the actual product itself.

Perhaps your purpose is to help others live a healthy lifestyle, or to reduce our carbon footprint? Companies with a cause capture people’s hearts, and as a recent Forbes report found, 64 per cent of consumers say that shared values create a trusted relationship with a brand. Find a brand specialist or agency who understands your business, and can help solidify your brand philosophy, purpose and values. In doing so, you can build trust, credibility and customer loyalty with your target market.

When you inject your purpose and values into your overall brand, this has the power to motivate employees, turn customers into advocates, and can even guide future business endeavours. The added bonus of harnessing a brand’s purpose is in the constant reminder and energy this brings to your business. Who knows, it might just help you get out of bed and go to work each day.

In Summary

Branding is about connection. Once you have established your purpose, you can then bridge this connection by identifying who you are, who you are speaking to and why consumers come to you. Stay tuned for our next article Brand Building: Defining What is Unique to Your Brand and follow us on Facebook and LinkedIn so you don’t miss it!

Want to know more? Speak with a  brand specialist on how you can harness your brand’s purpose to increase sales.

References:

https://www.youtube.com/watch?v=L-CZ9VMDK38

https://www.youtube.com/watch?v=64_v2FuvdmQ&feature=youtu.be&fbclid=IwAR0hguN8hofZyoFs4SL59nYkc_rFM5xOI532PLz-XleraWbsRlm5ZHBzfo0

https://www.forbes.com/global2000/#71a86114335d

https://www.cnbc.com/2018/04/27/lego-marketing-strategy-made-it-world-favorite-toy-brand.html

https://www.afr.com/life-and-luxury/fashion-and-style/and-the-winner-of-the-biggest-selling-luxury-watch-brand-is-20190415-p51efj

About the author

Lynley Hamblen

Lynley Hamblen

Lynley Hamblen is a marketing and communications specialist, and a contributor at Deep See Marketing. She has managed multi-channel marketing campaigns across the entertainment, health and finance industries, and is passionate about innovation and problem-solving.