We’ve ended a tough year, with indescribable pain and loss. Our thoughts lie with family and friends. And for those lucky enough to work safely at home, our work hours are spent in endless zoom meetings or working in our bedrooms, i.e., home offices. As marketing professionals, we continue to pick the minds of consumers and mine for the drivers of consumer behavior.
These days, consumers are pickier than ever when it comes to choosing what brands they do business with. Of course, a lot of it has to do with the global crisis of COVID, but much of it is due to market saturation, an abundance of choice, and the expansion of digital marketing that allows people to connect with brands well outside their geographic area. One of the best ways a brand can stand out from this crowded pack is to develop and lead with a strong, confident brand purpose that is authentic, mission-forward, and values-centric.
A clear, powerful mission statement serves as the foundation for every brand. It governs how a brand positions itself to its audience and customers, embodying the brand equity, or the public’s perceived valuation of the brand. An example of this is investing time into corporate social responsibility (CSR), where businesses contribute to broader societal causes. Not only is having a wider public purpose desirable, aligning your product with a meaningful humanitarian goal helps it win huge favor among consumers who care deeply about various causes.