Your business is doing just fine. Profits are more or less steady. Customers appear to be satisfied. Employees are not complaining, at least openly. Sales and marketing teams have all the busy work they need.
You’re holding steady. Or are you?
If this sounds like your organization, the unfortunate reality is that you’re losing ground every day. What may appear to be a healthy status quo is nothing more than a cry for movement out of the ordinary, into a space that is ripe with meaning and impact for all parties involved. One where success is fueled by a brand strategy and product/service experience that is a complete and uncompromised reflection of your company’s belief system.
Call it Corporate Culture. Organizational Health. Understanding Your Why. What matters most is that your company or organization must have a point of view that sets you apart externally and inspires you internally. To effectively harness this strategy is to connect your company’s belief system — what it stands for — to a brand that is imminently believable in the marketplace.
Evidence is mounting every day to support the importance of building purpose-driven organizations and brands, and it starts from the inside. Consider the prevailing mindset of today’s employees as it relates to understanding what their companies are all about, beyond their day-to-day job functions:
- 56% say their company’s purpose is not clearly conveyed to all employees
- 68% don’t think businesses do enough to instill a sense of meaningful purpose in their work culture
- 81% consider a company’s corporate social responsibility practices when deciding where to work
On the flip side, data indicates that employees are much more likely to be engaged with a company, act as brand advocates and stay longer with a company that openly and consistently leads with a strong sense of purpose. When team members cultivate a shared belief system, the odds of accomplishing more meaningful and productive work grows exponentially.
The profile among consumers as it relates to a company’s purpose is equally compelling:
- 71% would help a brand promote their product or services if there is a good cause behind them
- 91% of consumers would switch brands if a different brand of similar price and quality supported a good cause
- 90% would boycott if they learned of a company’s irresponsible business practices; 55% have done so in the past 12 months
Like employees, the connectivity and control that exists among consumers gives them a front-row seat to the character and practices of an organization. Given their finger is on the proverbial button of influence, it’s easy to see the strategic advantage of building connections between consumers and brands that stand for something larger that the specific product or service. This kind of goodwill is pivotal in helping brands withstand the temporary setbacks that may result from issues associated with product or service dissatisfaction.
Where and how does purpose show up in brand marketing? Take a look around, and it’s easy to see leading brands that are calling both internal and external audiences to arms through shared beliefs.
Of note is the #LikeAGirl campaign from Always, which debuted in 2014. As a company whose purpose is to empower and instill confidence in pubescent girls, the Always brand created a movement designed to keep girls in sports, noting that 50% typically drop out at the onset of puberty due to a plummet in their confidence. The brand dispelled the myths associated with “like a girl,” turning the language on its side to reflect the spirit, skill and confidence that exists in young female athletes.
Calling on your company’s belief system as a strategic differentiator is by no means a soft or nice-to-do strategy reserved for the Fortune 500 set. Leading a company through a shared sense of purpose can benefit organizations of any size, from improved team dynamics and accelerated product innovation to market-altering customer service experiences. Align this kind of inspired performance with an external brand that reflects the ideals of your company, and you’ll find yourself with customers who are ready to believe in you. That’s a one-way ticket out of the status quo.
*This article originally appeared in the July 18-August 16 issue of Columbia Regional Business Report.