WHY YOU NEED A BRAND PURPOSE!
To remain relevant, you MUST know your why.
Product quality and service excellence no longer suffice.
Your brand purpose is what truly holds the key to business longevity, consumer loyalty and overall personal and/or corporate brand success.
What Is a Brand Purpose?
Let’s use an example:
The ideation stage for entrepreneurs looking for their next business idea can be quite short.
Because, in most cases an unmet need is at root of product and service launches.
Entrepreneurs stumble upon a problem without a solution.
Then, create a solution and they’ve met a market need.
Sounds simple, right?
Well, sort of.
That process makes you an inventor, not an entrepreneur.
An entrepreneur is one who utilizes design thinking, branding, innovation, marketing, etc. to transform the product and/or service into a desired commodity. That’s a good that harnesses the power of consumer insight to speak directly to its target. It communicates a value beyond what is being purchased.
Entrepreneurs establish a market, create a need, understand and sell that worth.
That added value, is their brand purpose.
Your consumer wants and, in today’s market, demands to know what fuels your brand.
What drives your business to do what it does.
They don’t buy your product; they buy your story.
Your Personal Brand’s purpose:
We often see examples of corporate brands who have successfully discovered and defined their brand purpose.
Say, brands that sell products with the aim of transforming their client’s lives, instilling confidence, creating a lifestyle change, supporting larger social causes and so forth.
how can one successfully define their own personal brand purpose?
Discover where your passion & your audience’s intersect!
Understand your value and contextualize it. What larger goals/feelings/events does it relate to?
Ask yourself, what is the impact I wish to create?
Look ahead, what do you want your legacy to be?
Reflect on your unique value, not once, but often.
Why have why?
Your brand purpose serves as, first and foremost, a point of differentiation.
Many might offer similar content, similar services or similar products, but your brand contributes more. It might serve to motivate, to unify, to empower, to inspire.
Additionally, having a brand purpose usually translates in to a deeper rooted relationship with your consumer.
Your why tells a relatable story. It’s a way for your brand tribe to feel understood, acknowledged and embraced. It provides a larger sense of belonging, which correlates with an increase in brand loyalty, brand interest, engagement, sales and the list goes on.
Your customers will repeat interactions, not just transactions.
Lastly, internally, your brand purpose provides direction.
Often, I get asked about how to ensure brand consistency.
While, many factors come into play (probably another blog post in and of itself), your brand purpose can ensure that there is motivation beyond sales driving your work. Understanding the reason why, can essentially help you understand yourself and make sense of how your personal brand will leave its mark.