Chapter 1: The Importance of Brand Purpose

IBM's Research Insights recently released a compelling report titled "Consumers want it all: Hybrid shopping, sustainability, and purpose-driven brands." This study underscores the evolving relationship between consumers and brands, particularly in the wake of the pandemic. It reveals how consumers are increasingly assessing brands through the lens of their core values and missions.

This aligns with what we have long asserted about the necessity of establishing clear core values. Here are several key insights from IBM's findings that reinforce this notion:

"Purpose-driven consumers, who select products and brands based on how closely they match their values, comprise the largest consumer segment at 44%." In the past, consumers primarily focused on value—essentially, the convenience a product offered relative to its cost. Nowadays, consumer decisions are heavily influenced by the values a brand embodies. Almost half of all consumers are now making purchasing decisions based on a brand's mission and values. This shift means that customers are more willing to adapt their buying habits depending on the values you communicate. Thus, clarity about your brand's stance is more crucial than ever.

"58% of purpose-driven consumers have recently recommended a new brand or retailer to friends and family." When consumers discover a brand that resonates with their values, they become advocates. Word-of-mouth referrals remain the most effective leads for businesses today, and the purpose behind a brand is a significant topic of discussion. Consumers seek to align with brands that make them feel good, and this sense of connection often leads to sharing their experiences with others.

"These consumers desire insight into their purchases, understanding how their choices contribute to a company's broader sustainability efforts." Storytelling has become a vital component of modern marketing. Consumers want to connect with brands, and the narrative we craft plays a crucial role in fostering that bond. We must effectively communicate our identity, our actions, and the reasons they should care—particularly how these elements link to our values and purpose.

"Purpose-driven consumers expect brands to be transparent, credible, and forthcoming with information. They are willing to research brands and products before making decisions." We are now in an era where authenticity is paramount. Today’s consumers do not simply take claims at face value. They actively investigate to ensure that your brand's authenticity is genuine. This scrutiny applies to all businesses, not just well-known brands like Patagonia or Ben & Jerry's. If you operate any type of service business, customers are eager to learn about the motivations behind your brand. Sharing your purpose can foster deeper connections.

"Retailers and brands must cater to purpose-driven consumers by aligning every facet of their brand with consumer values. This includes developing propositions that extend beyond mere price and convenience." As discussed earlier, while value used to be the driving force behind sales, today it is values that forge connections, and these connections ultimately drive sales. As the segment of purpose-driven consumers continues to grow, brands must leverage their marketing strategies to demonstrate alignment with consumer values.

It’s time to recommit to your brand’s purpose and values, and actively communicate these to your audience. Today's consumers are eager to hear from you, so be bold in sharing what your brand stands for.

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Chapter 2: Engaging Consumers Through Purpose

The first video, "Brand Purpose, Mission, Vision & Core Values - JUST Branding Podcast 1.5," delves into the critical components of establishing a strong brand purpose and how it can enhance your market presence.

The second video, "Your PERSONAL BRAND is NOT what you THINK it is," challenges common misconceptions about personal branding and emphasizes the importance of authenticity and alignment with core values.