65% of CEOs believe purpose helps brands connect with customers and employees

New Ideas in MarketingEssential news for marketers, summarised by YouGov
September 06, 2019, 2:51 AM UTC

Less than half of CEOs surveyed took ownership of purpose to drive change and value creation.

Citing a statement by Larry Fink, CEO at BlackRock who wrote, “Purpose gives your business its license to operate in today’s society", this article highlights the role “purpose” plays for today’s CEOs. The piece cites Brandpie’s report for which it polled over 700 CEOs across Germany, the UK, the US and France.

78% of respondents agree they have a 90-day window to prove themselves, while 60% believe such a timeframe is “dangerous” and encourages “short-termism”. The need for instant results pushes CEOs away from achieving purpose-driven long-term goals.  

As per 84% of respondents, integrating purpose into business transformation efforts leads to greater success of these efforts. But, only 46% of participants believe that their companies have a strong sense of purpose.

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[5 minute read]