Today, organisations must constantly evolve and adapt to survive in the business landscape. Companies can navigate and be competitive by establishing a solid brand and aligning objectives. But how do you market a strong brand? And how do you position your brand with a purpose? That’s what we’ll tell you in this blog.
What is the purpose of your organisation?
An essential part of creating a solid brand is understanding why you exist. Leave out profit, fame, or personal success. The why, the motivation, is a reasonable basis. If the thought is ‘make money’, but you communicate that you want to make the world a better place, you don’t create a bond. If you communicate the real story, you will appeal to your target audience and build a bond.
The Power of Brand Purpose
Organisations with a clear purpose and knowing why they are in the market benefit more than those without. Former P&G marketing manager Jim Stengel conducted a decade-long research project involving 50,000 brands. He found that brands with a clear focus on improving lives outperformed their competitors in terms of market share and profitability.
Interesting statistics
The study also showed exciting statistics. The top 50 companies that performed were companies with a clear purpose. On average, these top 50 grew three times faster than their competitors in the same sector. Investors who invested in these companies would have made 400% more profit than if they had invested in assets linked to the S&P 500 index.
Purpose, Vision, Mission, and Values: Why Are They Important?
Most people use the terms ‘Purpose’, ‘Vision’, ‘Mission’, and ‘Values’ interchangeably or don’t pay attention to them at all. We are, therefore, happy to list them for you.
Purpose:
The goal tells the ‘why’. Why is your brand on the market? You show that your brand is helpful to your customers. And that it makes their lives better and more accessible.
Vision:
This is the long-term objective. Or the destination you hope to reach by offering your products and services in the market.
Mission:
The mission refers to the specific actions you must take to achieve your objective. These are the tactical measures you take daily to achieve your strategic (long-term) goals.
Values:
Your company’s values describe the principles your brand stands for. This translates into behaviour and organisational culture.
Positioning with a purpose is a powerful marketing tool. At YellowSteps, we can help you apply your brand objective as best as possible. Contact us to develop and communicate your brand creatively and consistently.
