- 90% of consumers feel that values are important when it comes to choosing brands.
- 72% of consumers feel that it's important to buy from companies that reflect their values.
- 64% of consumers avoid brands that don't believe their stand on societal issues.
Can brand purpose drive impact and customer loyalty at the same time?
Businesses with purpose have the potential to create meaningful positive social change.
Purpose isn’t just impactful for society though, it’s also highly impactful to consumers. 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, today's consumers are placing purpose high up on their priority list when it comes to choosing who to spend with.
Purpose-driven business= positive impact + 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 sceptical consumers.
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:
Your Purpose is embodied by your brand in its entirety (so consumers, broadly, are aware of what you stand for)
Your Purpose is consistently reflected in your actions and decisions (absolutely no baseless claims)
Your Purpose strikes a chord with your customers (on a personal level)
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.