Every company grounds itself in a core purpose, but many lose their way when they become too focused on short term revenue goals and too concerned with long term opportunities to scale. They forget about their key investment, finding the right customers and keeping them engaged. And then making them believe.
Today, consumers aren’t investing their time in brands that just sell quality products at fair prices. According to Accenture, they’re buying from companies that lead with purpose and line up with their own core values and beliefs. From family connections to health and wellness to environmental sustainability, those personal relationships run deeper than ever before.
So, sure. You’re a brand with purpose. But how do you resonate with your customers and let them know what you truly stand for?
Purpose Should Count With Your Customers
According to a Global Strategy Group Business and Politics Study, 83% of consumers consider a company’s values before making a purchase. So if you believe the consumer is king (or queen, thank you) rest assured this isn’t a fleeting trend, it’s a movement, and it’s definitely here to stay.
LEGO’s first flagship store in China empowers kids to build their very own cities of the future in an interactive play area where they can learn about modern architecture and environmental impact. And if that wasn’t purposeful enough, the brand continues to develop kid-focused “play labs” all over the world.
Drive With Purpose, Outperform The Rest
It’s no fluke. Earnings reports prove purpose driven brands not only perform better, but they also deliver better. Since becoming a purpose driven brand, the stock price of DTE Energy has increased over 200%.
The Power Of Purpose Will Keep Getting Stronger
No doubt Boomers care about purpose, but we’ve got our eye on Millennials and Gen Z’s potential for conversion and loyalty, since they’re more tied to brand purpose than any generation before them.
- 89% of Gen Z consumers would buy from a company supporting social and environmental issues over one that doesn’t. 2016 Cone Communications Millennial Employee Engagement Study
- 92% of Gen Z consumers would switch to brands supporting environmental and social issues over one that doesn’t. 2017 Cone Gen Z CSR Study: How to Speak to Z
- 76% of Millennials consider a company’s social and environmental commitments when deciding where to work.
Purpose Fuels Future Loyalty
From competition to profit margins to failure in general, purpose-driven brands can weather a national crash in corporate trust.
- 88% percent of U.S. consumers would be more loyal to companies that support social or environmental causes. Nielsen 2015- The Sustainability Imperative
- 75% of Millennials would take a pay cut to work for a socially responsible company. 2016 Cone Communications Millennial Employee Engagement Study
Purpose Can Be Empowering
Beauty brand Glossier empowers women to embrace their natural inner beauty through their blog, The Gloss. A platform where women can share techniques, advice and content from around the world, tap into their vulnerability and feel like part of a real squad.
All this great work has inspired our team here at Koi-Fly Creative to lean even further into our purpose. Our new program, “Fresh Filmmakers” fights for young adults who show interest in our industry but don’t have access to professional mentors, resources or curriculum. Fresh Filmmakers focuses on mentorship as a vehicle to pay it forward to a deserving non-profit with a story to tell. Through this program, we see the potential in everyone, and put our heart and soul into every idea.
All with a greater purpose. To be a better world to live in.