5 Reasons To Double Down On Your Purpose

Companies are understandably eager to get back to business. Sadly, many will desperately need a cash injection to stay afloat, and funds will naturally be the primary purpose and priority. As lockdown eases, the bottom line will inevitably be locked in the crosshairs. But, this shouldn’t devalue your purpose, especially as it’s become your superpower 1. During lockdown, you were true to your values 2 now is the best time to double down on your purpose. Here’s why:

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Is There An Empathy Delusion in Marketing?

A rising tide of evidence for purpose marketing has been shored up by Covid-19. Companies have grappled with how to engage an audience who are in lockdown. The challenge; limited resources, reduced purchasing abilities and interests more attuned to health and wellbeing rather than shopping. Companies quickly became more empathetic through purpose marketing, sidestepping from profit-first to community-first. Although, as lockdown eases, there have been questions surrounding purpose marketing and how empathy is used in promotions. Are these questions well-founded?

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Is Cognitive Dissonance Good for Business?

Maybe. If you’re prepared to try a purpose-driven strategy.

A fairly pessimistic article titled ‘Are Brands Overvaluaing Authenticity and Social Purpose?‘ suggested, whilst consumers demand more authentic, sustainable and socially positive businesses, in the end, ‘purpose’ will not drive their decision making. Product and price weigh far heavier. But, it doesn’t account for an alternative impact of cognitive dissonance and ignores a critical factor in the marketing funnel, word-of -mouth.

Although, the article does raise a legitimate question and one that should be explored when companies are considering their values and mission. Purpose-driven marketing needs to be authentic and come from the organisation’s core, aligned with the value proposition or the ‘Why’. Starting a purpose-driven marketing strategy to generate business moves your purpose away from cause and closer to making money. People will sniff out inauthenticity instantly, and the organisation will suffer as a result.

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Purpose Driven Marketing

Covid-19 has incentivised many brands to ramp up their social purpose, relaxing competitiveness in favour of co-operation. Businesses shouldn’t be looking to attract shoppers, but fans who buy into a shared value system.

The community in which your business operates is your success and your revenue. The success of your business depends on the health, wealth and happiness of this community, which means its time to invest in them!

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Sustainability’s Competitive Advantage

Peoples ethical spending has always been of great interest. After meeting a particular customer I wondered if sustainability was finally becoming part of consumerism… Could it be possible that people are beginning to think of ethics first?

The customers very first question was;

‘I am looking for a responsible holiday where I can make a positive impact on Namibia, how does Responsible Travel’s holidays provide this?‘.

Sustainability and social consciousness has suddenly been given a competitive advantage. So perhaps it is time for businesses to move fluffy, tokenism charity work into real business practices?

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