Is Purpose-driven Branding Strategy the Best for Your Business?
Is Purpose-driven Branding Strategy the Best for Your Business?
We turn to brands when we require something from them, be it software or office furniture. If a brand solely fulfills our needs, we might not give them much thought afterward, correct? However, if the brand informs us that our purchase contributes to a social cause, wouldn't we be more inclined to develop a positive perception of that brand? These scenarios underscore the contrast between a purpose-driven brand and one motivated solely by profit.
This blog from Ravyn Design goes over the meaning of a purpose-driven brand and underlines how proper branding can help you establish a strong purpose for your business or brand. If you’re interested in rejuvenating your branding, consult with our team about your brand strategy today.
What is Purpose-driven Branding?
A purpose-driven brand is one in which those responsible for it share a central mission. This mission goes beyond the surface-level provision of a product or service. It's when a brand's very existence is dedicated to addressing a societal problem or fulfilling a broader need. Everything that brand owners undertake should connect back to this purpose. Every company sets goals and objectives, but not every brand possesses a deeper sense of purpose. This purpose is reflected in their mission statement, brand objectives, visual identity, corporate culture, operational procedures, and more.
With this description, you may initially think of philanthropic organizations and NGOs. However, the reality is that organizations of any kind can be guided by a larger purpose, and increasingly, even larger corporations are embracing this approach. Large brands such as Nike, Coca-Cola, and Dove, all have a purpose driven behind them.
Can Your Brand be Purpose-driven?
How can you determine if embracing a purpose-driven approach is suitable for your brand? This question can be answered through research and by examining your brand platform, which holds your core values. Branding revolves around constructing a reputation; it pertains to both what you claim to do and what you genuinely undertake. The way you position your brand in the market should strike a harmonious equilibrium between practicality, reach, and ambition. Research can provide insights into the extent to which you have the leeway to adopt a purpose-driven approach.
What Consists of a Purpose-driven Brand?
In recent years, there has been a notable rise in purpose-driven brands, driven by several factors. Firstly, the prevalence of social media has provided consumers with greater transparency into corporate practices and the ability to engage in direct conversations with brands. Additionally, Millennials and Gen Z individuals place a high priority on environmental, social, and political issues, and they anticipate brands to align with their values.
In response to these evolving trends, a growing number of purpose-driven brands have emerged, and this has now become an expectation among consumers. It's no longer sufficient for a brand to offer an excellent product or service; it must also be actively pursuing a larger mission or purpose.
Undoubtedly, the modern public holds higher expectations for the brands they engage with. This necessitates that brands establish a clear and resolute sense of purpose. Gone are the times when brands could compartmentalize their business from broader global concerns. Present-day consumers expect brands to define their values and demonstrate how these values influence their operational decisions. Every interaction with your audience shapes your brand's reputation and offers opportunities to convey your identity to the public.
How Branding Can Establish a Purpose for Your Brand
Establish a Clear Brand Purpose
The initial stage involves crafting a concise and captivating statement that encapsulates your brand's purpose by summarizing your vision, mission, and values. This brand purpose should address the question: what is the significance of your brand? Think about your product and service. Who is it for and how is it meant to benefit them? You can even think back to what made you start the brand in the first place. It should mirror your fundamental convictions, your enthusiasm, and your ambitions.
Ensure Your Brand Strategy and Identity Align
Harmonize your brand purpose with your brand identity and strategy. Your brand identity encompasses how you convey your brand purpose through elements such as your name, logo, tagline, voice, and visual elements. Meanwhile, your brand strategy involves the positioning of your brand in the market, targeting your audience, articulating your value proposition, and fulfilling your brand promise. Both your brand identity and strategy should exhibit consistency and unity with your brand purpose, echoing it across all interaction points.
Showcase Your Brand Purpose
To effectively use branding to establish a purpose for your brand, convey your brand purpose to both your internal and external stakeholders. Internally, your stakeholders encompass your employees, partners, and investors. Externally, your stakeholders comprise your customers, potential clients, media outlets, and influencers.
To effectively communicate your brand purpose, you can utilize various channels, including your website, social media platforms, blogs, podcasts, videos, events, and promotional campaigns. It’s important to consult with a branding agency to establish a brand strategy and design that works well to showcase your brand purpose.
Maintain and Improve Your Brand’s Purpose
It’s important to assess and enhance the performance of your brand purpose. It's imperative to monitor and assess how effectively your brand purpose is connecting with your stakeholders and influencing your brand's visibility, reputation, loyalty, and expansion. To achieve this, you can employ various metrics including brand recall, recognition, preference, advocacy, sentiment, reach, engagement, conversion, retention, and revenue.
Gathering feedback, conducting surveys, examining reviews, and considering testimonials can provide valuable insights and recommendations for enhancing the execution and impact of your brand purpose.
Schedule a Consultation with Ravyn Design for Your Brand Strategy Questions Today
Do you want to use unique and effective ways to showcase your brand’s purpose? Are you having difficulty finding methods to do so? We’re here to help. At Ravyn Design, our team is dedicated to providing you with professional branding services that will effectively communicate your brand’s purpose. Contact us today to schedule a consultation to discuss your brand strategy.