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Four Tips for Discovering and Sharing Your Brand’s Purpose

Brands with a purpose that benefits people or society outperform the stock market by 120 percent. It’s time to put your business in position to start benefitting from brand purpose. Get started with these four tips.

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Four Tips for Discovering and Sharing Your Brand’s Purpose

  1. 1. FOUR TIPS FOR DISCOVERING AND SHARING YOUR BRAND’S PURPOSE The definition of brand purpose is simple enough: it is a brand’s reason to exist beyond turning a profit. But that definition doesn’t do justice to how powerful brand purpose can be for your business. According to a 2017 Interbrand study, brands with a purpose outperform the stock market by 120 percent. That number shows that brand purpose is a differentiator that cannot be ignored, especially in today’s hyper-competitive market. In this presentation, we’ll give you four tips for developing your own brand purpose and leveraging it to build momentum both internally and with your customers.
  2. 2. The definition of brand purpose is simple enough: a brand’s reason to exist beyond turning a profit. But that definition doesn’t do justice to how powerful brand purpose can be for your business. According to a 2017 Interbrand study, brands with a purpose outperform the stock market by 120 percent. That number shows that brand purpose is a differentiator that cannot be ignored, especially in today’s hyper-competitive market. In this presentation, we’ll give you four tips for developing your own brand purpose and leveraging it to build momentum both internally and with your customers.
  3. 3. DEFINE YOUR PURPOSE
  4. 4. This one should be obvious. It’s impossible for a brand to exude its purpose in everything it does if there is no purpose to exude. Defining your unique brand purpose is the very beginning of this positive, powerful, and enriching process. However, your brand’s purpose cannot feel forced. It has to be something that seamlessly aligns with what your brand does. It should answer the question, “Why does the brand exist?” Keep it simple and authentic. 4© Copyright 2019 by the Association of National Advertisers, Inc. All rights reserved.
  5. 5. DIFFERENTIATE YOUR BRAND PURPOSE FROM YOUR CORPORATE MISSION
  6. 6. While purpose and mission may seem like interchangeable synonyms, shrewd marketers who have already successfully implemented purpose see the difference between the two. When considering purpose, it’s key to remember that brand purpose guides your business while the corporate mission is what drives you to fulfill that purpose. Purpose is what the brand is going to do while mission is how the brand will do it. 6© Copyright 2019 by the Association of National Advertisers, Inc. All rights reserved.
  7. 7. CONNECT YOUR PURPOSE WITH YOUR CONSUMERS’ PASSIONS
  8. 8. For your purpose to be an effective driver of business, it must lead to demonstrable positive societal impact that resonates with customers. In essence, your brand has to walk the walk. Your purpose can’t be a veneer, but instead must be deeply embedded within the organization and permeate every action. Putting purpose on the pedestal without demonstrating to your audience the purpose-driven actions your brand is taking is just about the quickest way to turn off a potential advocate. 8© Copyright 2019 by the Association of National Advertisers, Inc. All rights reserved.
  9. 9. UNIFY THE ORGANIZATION AROUND YOUR PURPOSE
  10. 10. When a company is decentralized, as so many big corporations are, creating an umbrella statement of purpose can unify internal teams. If your purpose is connected to macro trends, it can help a brand demonstrate how it contributes to solving societal issues, rallying your employees behind the effort and imbuing in them a greater sense of purpose in their work. The deeper you can integrate purpose internally, the more easily it will be exuded in everything your brand does. 10© Copyright 2019 by the Association of National Advertisers, Inc. All rights reserved.
  11. 11. While these four tips are a great start for giving your brand purpose, there is still plenty more to learn. Download our “Discovering Brand Purpose” playbook to dig even deeper.

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