Why profit in business is no longer enough
Purpose in business has become a top priority for companies to survive in the post-pandemic era.
Profit AND Purpose is set to be the new norm as three trends emerge:
Conscious consumers demand transparency of what’s in their products, how they are packaged and the values of the supply chain.
Shareholders ask for quantitative data surrounding environmental and ethical policies.
Employees search out purpose-driven companies.
As more companies turn to claims about charitable donations, new equality practices, fair-trade policies and carbon footprint, the question remains, are these companies changing because they’re genuinely driven to be part of the environmental, social and governance movement or are they completing a tick box exercise?
Growing urgency for change means that moving into the purpose-led space can be challenging for business leaders. There are countless buzzwords, certifications, and questions on how to become a purpose-driven brand and how to tie marketing and communications to purpose in a way that is genuine, creative and tactful.
It's important to note that a brand’s purpose doesn’t necessarily have to be a primary marketing tactic; focus can remain on quality and design. But, having a strong social purpose will close an essential gap, strengthen the brand's competitive position and meet the demands of important stakeholders.
Reviewing a brand’s position and discovering its place in the purpose-focused landscape can be achieved with the support of a purpose-driven marketing agency like Outsourced imagination.
As a global purpose-driven marketing agency, Outsourced imagination helps companies grow with purpose at their core. They go deeper than simply defining strategic marketing objectives. Their Brand Purpose DNA Workshop reviews where a company currently sits on its journey to purpose and shows them how to navigate through a complex space. Their values-driven marketing and communications services guide business leaders on how to successfully implement purpose-driven marketing strategies both internally, driving loyalty and a healthy culture and externally, to customers and suppliers.
Thanks for dropping by our purpose-driven marketing blog.