It most definitely is. More and more brands and companies are redefining themselves as purpose-led.
Companies are spending time defining a purpose for their brands that stretch beyond market dominance and high profit margins. They’re learning that consumers are making carefully considered choices to buy from companies that have a purpose that they personally identify with and that reflects their values and beliefs. Consumers are loyal to brands that act authentically and demonstrate a commitment to a purpose that goes beyond profit. In a world of turmoil, consumers also expect their brands to be aware of the issues affecting society and to take a stand. In some circles these are referred to as woke brands.
There is a danger for organisations who pay lip service to a purpose rather than intrinsically linking it to their DNA. This can make the intention seem inauthentic, just a campaign or a marketing tactic. Consumers are much wiser. They can see through it. And if they feel their trust has been betrayed, they will abandon the brands.
It’s possible for an established organisation to define their purpose, change how they do business and for that to be authentic. Take the time to rediscover the reason your company exists
Why you exist? Why do the people in the company do what they do? Why they get out of bed in the morning to come to work (reasons that are not salary driven)? What difference to people’s lives or society would you like your products or company to make?
Once defined, a purpose sits at the centre of an organisation’s vision driving culture and every business decision and informing how the brand looks and what it says. It’s such a powerful thing that it can’t be left to chance or considered to be a marketing tactic.