Why is Having A Brand Purpose Important?
“When purpose is not known, abuse is inevitable.” This popular saying by Myles Munroe is true for practically everything that exists and inspires a question every brand should ask themselves, “What is the purpose of this brand?” The fact that customers are no longer satisfied with simply buying products or getting services, but also want to know what a brand stands for begs the need to have an answer to this question.
Maybe you would have gotten away with not having a definitive brand identity if we lived in a world where you are the only one in your line of business. But we don’t, in our world, many other brands do the same thing you do. If you don’t want to be swallowed up by the crowd of other brands, you have to stand out and you stand out when you have defined a distinct brand purpose to guide the uniqueness your brand will be known for.
What Is ‘Brand Purpose’?
Every brand wants to make a profit, however, a brand purpose is the bigger purpose (the more altruistic purpose, if you like) for which the brand was established. We could say it is the value that your brand sets out to add to your customers or the society at large besides the products and service they are paying for.
Why Is Brand Purpose Important?
It Guides Your Values as a Brand
Your brand purpose will determine your values as a company. Every brand should have values that they hold dearly; you should have certain qualities that guide your behaviour as a business. This value system will guide the kind of employees you employ because while making sure employees are qualified, you will also make sure they stand for the same things you stand for.
It Makes the Brand Stand Out from Competitors
You don’t want to be counted among the crowd without your own identity. You can only stand out from your competitors if you have certain things you stand for that differentiates you from them. Also, you should not be so focused on being different that you push the agenda for an insincere brand purpose. It is important to be sincere as well because you don’t want to be caught in a lie as a brand; there might be no coming back from it. So, take your time to think of a sincere value your brand is offering that is different from your desire to make money.
It Makes You More Attractive to Customers
Customers are generally more attracted to brands that make them feel like they are part of something greater. They don’t just want to buy products and get services; they want to contribute to making a difference in the world. If they see their money is adding value to the world, they are more inclined to want to identify with you. Also, customers will prefer to identify with brands that care more than simply making profits.
You will agree that the purpose of every entity should be defined and this is enough reason why defining a clear purpose for your brand is important but even more than that, if you can show customers that partnering with you is beyond a need to make profit, you are already winning.