Telling a powerful story that sets your brand and products or services apart from the competition is paramount to your business success. Nadia Hearn, founder of Get Published, PR brand authority and marketing communications creative, shares her insights on how purpose can define your business success.
1. The “why” behind a brand is what customers and investors pay attention to
When you can define and articulate your brand’s purpose – the why – you have the potential to reach more people who will respond more authentically and connect emotionally their needs with what you have to offer.
2. No one wants to be sold to, but everyone wants to buy
People don’t buy into what you do, they buy why you are doing it. Purpose is often the reason why you started your business journey and how you got to explore solving a problem, finding a solution, and even relieving a pain of someone you cared for.
3. Business is not just about making money
Your business purpose goes beyond making money and at the same time it does right by humanity. When a brand can dovetail its business needs with the public’s emotional needs, people respond.
4. Many highly successful brands have seen the wisdom in defining and articulating a brand’s purpose
Author and expert Simon Sinek really explained it best: “People don’t buy what you do; they buy why you do it.” Sinek has built a whole theory around this idea, called The Golden Circle, that gives a brand the framework to differentiate its value propositions, starting with its purpose.
5. Make a difference, while making a living
For example, Nike wants to “bring inspiration and innovation to every athlete in the world”, no matter who that athlete might be. Starbucks strives to “inspire and nurture the human spirit — one person, one cup, and one neighbourhood at a time”. These aren’t just slogans. They’re words meant to embody a desire to make a difference while making a living, and people are paying attention on several levels.
6. Purpose matters uniquely to potential customers
A recent analysis found that while 75% of consumers are more likely to trust a purpose-driven businesses, nearly 80% agreed that they would be more inclined to want to work for and with organisations who have a more clearly defined purpose.
7. Create an authentic story
Once you really get behind the service you are doing for others and humanity, you can create an authentic story about how you are truly working to meet other needs, and to make a difference in their lives or business.
8. Ask yourself key questions to figure out your brand purpose
What was the reason and story of how you started your business or developed your product or business? What was the key problem/need/solution you wanted to solve by creating your product/service or starting your business?
9. Make sure your business actually makes a difference
Think about what difference your business makes to its community/society/the world; and about how it betters the lives/business of others. Make sure you translate this message to your stakeholders.
10. If you, your business, or organisation didn’t exist would there be a gap?
If your business didn’t exist, would there be a difference in the world, your community? Who would be losing out and what loss would there be to others, society, and this world?