In a world where ESG (Environmental, social and governance) investing is a trending conversation, it is another reminder to why Purpose Branding is so important. At the heart of ESG is sustainability and sustainable Brands was founded on a few key principles — one being the belief that Purpose driven businesses will outperform their competitors in the long run.
Purpose plays a significant role in influencing an organization and driving growth. Integrating Purpose throughout the organization creates a cascade that shifts an organization from just meeting unmet needs to creating desire around what you do – creating demand.
In relationship driven businesses the articulation and integration of brand purpose helps elevate business from functional conversations and GTM strategies, shifting it from a transactional sell to a strategic partnership model to drive locality and drive choice.
Purpose is part of the equation that shifts an organization from just meeting unmet needs to creating desire around what you do – creating demand.
Purpose-led businesses think beyond the traditionally limited definition of brand as a logo or a mark of a product or service, the brand defines who you are – why you exist, what you do and how you do it across your business. This also includes a company’s entire go-to-market strategy, supply chain activities, your presence in the communities you serve and the actions you take to influence the ecosystem around you including government policy.
The articulation of purpose is the expression of the bigger goal of putting people first. In business we recognize we need to be customer centric, however in today's context this is dated. Not only have we switched away from B2B to B2B2C we have entered the era of B2H if not Human to human. So defining Purpose is just one part of the equation. Engaging leadership, employees, consumers and investors in a shared vision that resonates and motivates is the real challenge. The B- Team, a not-for-profit co-founded by Sir Richard Branson aimed to rally business leaders to catalyze a better way of doing business for the wellbeing of people and planet, is another indication of the important and role Purpose plays in a successful business.
Dominic Leung is Cognito's Group Strategy Officer
To read more on sustainability and marketing, read the other three parts of our ESG special: