Imagine you are walking across an aisle with breakfast cereals displayed from different brands. The price of each box is almost the same. However, one brand promises to donate a certain amount of their profit to a social cause like animal welfare or sustainable development. So which box will end up in your shopping cart? This is the base of purpose-driven marketing.
Every customer in the market today is also an aware human being. In recent decades, there has been a growing consciousness among the masses regarding the need to be a more vocal and active citizen in the community. People want to adopt engaging roles while being a part of something bigger.
Knowing your customer
Everyone today is driven to connect, grow and ultimately make a significant impact in society. The fact that every customer would pick a cereal brand that supports a good cause defines a modern customer’s values. As a result, companies need to understand the larger meaning of the word ‘customer’.
They are not mere buyers but also people who are passionate about causes and aware of their social responsibility. Hence, this new customer in the market demands a new approach from brands. In this modern social scenario, purpose-driven marketing comes to rescue!
Understanding purpose-driven marketing
Purpose-driven marketing is a type of marketing that ensures that a brand connects with its audience. It supports the causes that they both believe in. It is usually a long term strategy that involves aligning a brand’s message with the customer’s belief. Consequently, a customer will support that brand as they share a common purpose and aim towards a greater good.
The cause may not be very specific and this type of marketing can be more aspirational but the core of the business then focuses on giving back to society. Additionally, it enables constructing a narrative for your brand. However, what one also does in this process is that they create a personal connection with those on the other end, i.e. the customers.
Developing consumer loyalty
It breaks down the wall between the company and the customer. Following this, the resulting image is that of a people’s brand rather than a firm which only serves as a profit-making machine. The consumers then develop loyalty toward such brands as it grants them the power to bring a change only by shifting their purchasing power. However, if you think that purpose-driven marketing can only create a good brand image then one must understand the entire process that follows realigning your company with a purpose.
Statistics have revealed the real power of purpose-driven marketing and the idea behind it.
Marketing that matters
The authenticity of these statistics and success of brands can be easily checked if you look at the most successful brands around you. For instance, Adidas’s purpose-driven marketing efforts focused on the ocean plastic epidemic. The brand produced a video which takes a viewer on a journey where they first take a deep dive and find how the plastics collected in oceans severely affect their ecosystem.
Adidas effectively realigned the cause to their brand. They turned the problem into a solution with their new range of high-performance sportswear made out of plastic.
The lesson derived from Adidas’s story is that the supporting cause becomes a crucial part of your brand narrative. Consequently, it determines the people who will support, buy and invest in their brand and business.
Similarly, Dove elevated from being just a soap manufacturer to an authentic brand with its #speakbeautiful movement.
Portraying beauty as more than something related to superficial appearance, the campaign centered on improving the self-esteem of its customers, mostly women.
In this case, Dove became a credible brand while creating an intimate connection with its consumers. This honesty lies in the core values of purpose-based marketing. Consequently, customers appreciate such responsible brands. It is evident from the fact that purpose-driven companies grow three-times faster than their competitors. This proves that this type of marketing always works.
Optimising purpose-driven content marketing
Purpose-driven content marketing is an excellent technique to include in your marketing strategy. This type of content differs from any regular content in its larger aim. The marketing materials remain the same such as blogs, social media posts, videos, etc. But the definition of content marketing is changed as they are not ‘sales-y’. Rather they provide the consumers with a solution with their products and services.
The designed content also distributes certain noble values. The relevance of content is also taken care of. In this manner, the content attracts a larger audience. Additionally, the motive is to refrain from being spammy. The basic idea behind this is to make the audience, who are the potential customer, to complete an action after consuming the content. In simpler terms, this action is availing the services or purchasing the product from a particular brand.
Transforming the brand narrative
Purpose-driven content marketing acts as a strategy that is better planned and tailored to the special needs of a brand’s target customers. It creates a bond over common interests. The brand then becomes an example and flagbearer for a good cause. On the contrary, it may educate the audience who will feel happy to be connected to the brand. Hence, a brand narrative builds strong loyalty among the customer base.
Every company knows the value of a loyal customer group. But in a digitised world, the value of such a base has significantly increased. But how?
With a brand narrative at heart, the potential customers are immediately transformed into enthusiastic brand ambassadors. This means that the audience shares the purpose-driven content multiplies the reach of the brand. In conclusion, purpose-driven content marketing forms a unique brand identity from any other competitors in the market.
And, this is what we do at Shaktiki – pave your success story!
Get in touch with us today to find out know more.