What Type of Brand are You?
You can brand your organization in different ways. It is believed that in a consumer centric environment - if you take care of the member with products that best help them, and focus on quality service, the profit will follow. Precisely why so many businesses fail is they place profit ahead of the consumer's best interest.
Purpose-Driven branding is when a company works towards a larger purpose, considering profit-making to be a by-product.As an example; Whole Foods clearly states that it's a company that works towards setting the standards of excellence for food retailers. As marketing and brand enthusiast Aditya Ghuwalewala illustrates in two examples, purpose driven marketing plays a role in some of the best brands. Whole Foods creates an affinity with its customers by making them realize that its primary objective is not to sell them groceries, but to work towards a larger goal of providing them with better stuff, stuff that is good for them and is also good for the environment.
You hear Whole Foods founder John Mackey talk, or read the company blog, and you will certainly get a feeling that this company is doing more than just making profits, placing it right at the top of the list for Purpose-driven brands.
Another brand that is able to do purpose-driven branding successfully is Google. Google made its customers believe that its primary objective is not to make profits but just to organize the World's information and make it universally accessible. Google does not alter its search results to push up sponsored pages and marks sponsored links clearly to prove that they are sticking to their mission. This has won the brand great customer affinity in a market where barrier to entry is almost negligible.
Aditya goes on to say, "Purpose-driven branding is not something that can be easily faked by the brand managers. Brands should really keep themselves away from posing as if they are working towards a larger purpose to attract customers. Customers are too smart to identify a poser and such tactics can lead to permanently damaging the image of the brand."
Purpose-Driven Branding as an approach leverages the integrity of the staff and places the core values of the organization at the forefront. As Aditya alluded, the core values, the heart of an organization, cannot be faked. In the findings of this report, it is those core values that are the strongest unifying position of the organization.
The drive towards the larger purpose should be there in the roots of the brand. It should be something that the customers are able to sense, not something they are to be told explicitly. Authenticity is very essential for the success of purpose-driven branding. If a brand gets that right, it develops the muscles to even take on competitors with far deeper pockets than theirs.
"Profit for a company is like oxygen for a person. If you don't have enough of it, you're out of the game. But if you think your life is about breathing, you're really missing something."
-Peter Drucker
Purpose-Driven branding is when a company works towards a larger purpose, considering profit-making to be a by-product.As an example; Whole Foods clearly states that it's a company that works towards setting the standards of excellence for food retailers. As marketing and brand enthusiast Aditya Ghuwalewala illustrates in two examples, purpose driven marketing plays a role in some of the best brands. Whole Foods creates an affinity with its customers by making them realize that its primary objective is not to sell them groceries, but to work towards a larger goal of providing them with better stuff, stuff that is good for them and is also good for the environment. You hear Whole Foods founder John Mackey talk, or read the company blog, and you will certainly get a feeling that this company is doing more than just making profits, placing it right at the top of the list for Purpose-driven brands.
Another brand that is able to do purpose-driven branding successfully is Google. Google made its customers believe that its primary objective is not to make profits but just to organize the World's information and make it universally accessible. Google does not alter its search results to push up sponsored pages and marks sponsored links clearly to prove that they are sticking to their mission. This has won the brand great customer affinity in a market where barrier to entry is almost negligible.Aditya goes on to say, "Purpose-driven branding is not something that can be easily faked by the brand managers. Brands should really keep themselves away from posing as if they are working towards a larger purpose to attract customers. Customers are too smart to identify a poser and such tactics can lead to permanently damaging the image of the brand."
Purpose-Driven Branding as an approach leverages the integrity of the staff and places the core values of the organization at the forefront. As Aditya alluded, the core values, the heart of an organization, cannot be faked. In the findings of this report, it is those core values that are the strongest unifying position of the organization.
The drive towards the larger purpose should be there in the roots of the brand. It should be something that the customers are able to sense, not something they are to be told explicitly. Authenticity is very essential for the success of purpose-driven branding. If a brand gets that right, it develops the muscles to even take on competitors with far deeper pockets than theirs.
"Profit for a company is like oxygen for a person. If you don't have enough of it, you're out of the game. But if you think your life is about breathing, you're really missing something."
-Peter Drucker
