This latest Purpose Impact Monitor research is a call to action for brands of all kinds – to rise above the “green noise” and find ways to stand out – not just for the sake of doing good, but for the health of their brands. Marketers cannot afford to waste a precious opportunity to support noble causes and invest in their brand equity; there is no reason or need to do one without the other.
Thinking about our findings the following takeaways come quickly to mind:
Purpose is marketing – and the funds for your next “green” or diversity campaign may depend on the success of the last one. Be sure your messages are not just clear, but catchy. Celebrate consumers for their great actions – but also remember to let your brand shine. And measure the effectiveness of your high-minded efforts as rigorously as you would any others.
It is a fact of life that big brands can win a lot of battles just by showing up – being omnipresent and flexing their massive marketing muscles. If you are a smaller brand, purpose can be your calling card, but you need to work harder and be more focused. Make your good works crystal clear and connected to your core brand imagery and messaging.
Assuming that social activism will be your ticket to popularity with younger consumers – or almost any other group – could be a major miscalculation. Decide what makes sense for your brand first, and develop your purpose work from there. Making purpose a tactic rather than an identity element may set you back and could definitely waste valuable time and money.
We still live in an uncertain, inflation-driven economy, where many consumers feel under serious financial pressure. Imagining that green or socially just efforts will move people on their own will only get you so far. Remember to deliver value and be realistic about your customers’ needs and concerns.