Every brand should have a purpose beyond profit. This is what gives it its edge and creates long-term sustainable growth. Without a purpose or vision with a strong ripple effect, most businesses will continue to compete solely on price and convenience.
“Most consumers fall into one of two segments: Value-driven consumers, who are primarily concerned with getting their money’s worth and select brands based on price and convenience; and Purpose-driven consumers, who select brands based on how well they align with their personal values and who are willing to 'walk the talk' when it comes to sustainability, changing their behavior, and even paying more for brands that get it right.” – IBM Institute for Business Value
Which consumer would you rather attract: the price sensitive one who cares about price and convenience? Or the one who will pay a premium for brands that share their values?
Seems like a no brainer to me… and yet, businesses don’t design their brand or their experience around these sentiments. When HALF of consumers worldwide say they now buy based on a brand’s values and impact, and studies find that consumers are 4-6x times more likely to purchase, protect and champion purpose-driven brands… it’s time to take action to become one.
Being a purpose-driven brand doesn’t mean you have to go out and solve all the world’s ugly problems. You can be a purpose-driven brand in whatever way aligns with your vision - but there must be a strong & clear vision. The archetypes show us that every brand can stand for something bigger than itself.
wishes to bring peace and optimism to the world // solves the problem of chaos & unrest.
wishes to open the world up to the truth and different perspectives // solves the problem of ignorance & misperception.
wishes to push boundaries of discovery & help others feel alive // solves the problem of monotony & restriction.
wishes to bring people together with laughter and fun-loving spirit // solves the problem of aloneness & grimness.
wishes to create and inspire others to self-express in imaginative ways // solves the problem of predictability & censorship.
wishes to to help others transform and bring their dreams to life // solves the problem of confusion & insignificance.
wishes to break rules, shake things up, and catalyze change // solves the problem of conformity & stagnancy.
wishes to encourage authenticity & comfort around the world // solves the problem of distrust & (invisible) borders.
wishes to lead people to sensuality, compassion, ad intimacy // solves the problem of hate & ugliness.
Don’t you see how these ‘purposes’ are incredibly important for society, and yet, they can be achieved in many different ways, both big AND small ways?
By setting your vision through the lens of 1-2 of these archetypes, and actually taking aligned action (even baby steps) to bring this vision to life, you are on your way to becoming a purpose-driven brand. Because it’s no longer just about making profit. But of course, the profit will come when you put the needs and desires of people at the center of your experience. Because THAT is what people buy. People spend money to have their ‘problems’ solved.
Which of these problems do you see out in the world right now? Amongst your friends and family? Amongst society?
These are the problems the hospitality, travel & leisure world can begin to address. Our industry is at the heart of every culture, every community. What would the world look like without the attractions and experiences that our industry makes up? Where would people gather? How would people spend their free time? It would be all work, no play if it weren’t for our industry.
But play comes in many different shapes and sizes. Play means something different for everyone, but it is by far the most important medicine this world needs right now. Purposeful play.
Make one of these your purpose, and watch how your brand evolves. Watch how you begin to magnetize people who share these values, passions, and desires.