Overall, getting the purpose-positioning right is important.
The recent past has highlighted a shift from a company’s ability to be altruistic to the need for businesses to do good to answer a critical need of the planet. This brings forward the concept of brands doing good or being purpose-led.
But for more and more companies to be purpose-led, they need to be able to prove that doing good can lead to better returns. The author shares an overview of what a metric that measures purpose could look like.
Such a metric would be a “purpose equivalent” of a Net Promoter Score (NPS) and would ideally correlate purpose measure with NPS. Businesses would also need to get their purpose-based positioning right and be able to measure purpose against their key competitors.
[5 minute read]