Purpose – what is it? If you’re thinking “the name of Justin Bieber’s fourth album”... that would be correct, but this word carries more weight than his millions of fans.
In the 14th annual Global Consumer Pulse Research, titled ‘From Me to We: The Rise of the Purpose-Led Brand,’ Accenture Strategy defines purpose in the following way:
“pur·pose /ˈ pərpəs / Noun: The reason why something exists. For companies, it is the foundation of every experience. It is the underlying essence that makes a brand relevant and necessary.”
In an increasingly competitive landscape, purpose-driven marketing is about more than building your brand or boosting your revenue. It’s about building a better world, long-term, alongside the people who share your brand’s passion to drive positive change and make a real impact.
To build a sustainable brand, equipped with valuable brand advocates and stakeholders, make an effort to strengthen it by delivering something beyond price and quality.