Written by Evie Ridyard | Mar 3, 2021

Can brand purpose drive impact and customer loyalty at the same time?

Articles
90% of consumers feel that values are important when choosing brands. ------ 64% of consumers avoid brands that don’t believe its stand on societal issues. --- 67% of people will pay more to contribute to a good cause.

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We know that businesses with purpose have the potential to create meaningful positive social change. 

With 90% consumers feeling that values are important when it comes to choosing a brand, and 64% avoiding brands with values that conflict with their own... we also know that purpose is climbing high and higher up the priority list for today's consumers.

What does this mean for today's businesses?

The intersection of these two facts makes for, well, really no better time for businesses to start cultivating a core purpose beyond the sale of their product/service itself.

(If you want to grasp a deeper understanding of what we actually mean by purpose in businesses, we explain it simply here.)

So, it’s a no brainer, right?

Purpose-driven business= positive change + new customers

Well… not necessarily. 

Here’s the thing. Purpose in business holds next to zero weight unless executed effectively. Businesses that approach purpose as little more than an advertising promise or marketing ploy swiftly fall flat on their face as they’re exposed for their disingenuity by a sea of (rightfully) sceptical consumers. 

Take Quorn, and Shell as a case in point.

The truth is, performative Purpose falls no one. For Purpose to succeed in actually creating positive impact and, in so doing, attracting passionate and loyal customers with it... it must be meticulously executed and, fundamentally, sincere. 

So, how do you create a brand purpose that drives impact, loyalty & new business?

Well, that’s why we created the ACE framework, a 3 step guide to help businesses lead with purpose in such a way that they create meaningful impact for the world, whilst also connecting with their existing and prospective customers, on a deep level.

A top line summary of The ACE Framework:

AWARENESS:

Your Purpose is embodied by your brand in its entirety (so consumers, broadly, are aware of what you stand for)

CREDIBLE:

Your Purpose is consistently reflected in your actions and decisions (absolutely no baseless claims)

ENGAGING:

Your Purpose strikes a chord with your customers (on a personal level)

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You can read a more thorough explainer of our ACE Framework, here. Or if you'd like to speak to one of our team about building purpose into the core of your business, hit below.

Written by
Evie Ridyard

Content & Marketing Manager