Brands with a sense of purpose have seen their valuation grow by 175% over the past 12 years.
This piece says many companies tend to create and publicise a brand purpose and fail to follow it through which leads to a credibility crisis. Brands should repeat their purpose statement throughout their companywide communications to emphasise commitment.
Purpose statements should also be straightforward and memorable so that they can easily be put to broader use. Brands should avoid using “and” to splice two thoughts together and stick to conveying a single coherent idea that can be acted upon in multiple ways.
Companies should also set big goals with their purpose to create a brand culture which goes beyond value statements. This can help brands take a stand which is centred around achieving a goal rather than reacting to cultural forces.
[5 minute read]