We created the ACE Framework as a replicable set of guidelines we refer back to with every new partnership. It provides a framework to help businesses to lead with purpose in such a way that they create meaningful impact for society, and in so doing, are able to connect with new- and existing customers- on a deeper level. We touched on it in our article Can brand purpose drive impact and customer loyalty at the same time?
In this piece though, we're going to dive into The ACE Framework a little deeper to explore how purpose, when executed effectively, can be transformative for both a business and society.
The ACE Framework for purpose in business = meaningful societal impact + new customers
A - AWARENESS
For Purpose to influence consumer behaviour, your audience must be acutely aware of what your brand represents.
"Three Quarters of Americans feel strongly that all industries must not only have a deeply rooted sense of Purpose, but they must share that Purpose with consumers”
When your purpose has become an integral part of your brand’s identity, it works to galvanise a community of supporters with a shared set of values, who rigorously campaign in your favour. Those who choose your product won’t do coincidentally, they choose the businesses whose values align with their own.
When your product and your purpose are woven together and embodied by your brand in its entirety, your impact is maximised- but so is your reach.
C - CREDIBILITY
Voicing your commitment to impact is one thing, but supporting it with tangible action is another. Credibility is crucial if your purpose is going to help attract new and loyal customers.
Americans feel companies must “walk the talk,” aligning their actions and behaviour with their Purpose. In fact, 88% feel companies have a responsibility to demonstrate that they are operating in a way that is aligned with their Purpose in society.”
Today’s consumers are unafraid to call out inauthenticity, they know performative activism or disingenuous cause marketing when they see it. To have true credibility as a purpose-driven organisation, you must consistently support your claims with concrete evidence. Fail to substantiate your impact and your brand purpose is meaningless. Allocate resource to creating real positive impact that can be seen by your customers and felt by the causes you're helping.
E - ENGAGEMENT
Lastly, your purpose must be engaging. When consumers are engaged by your purpose and compelled by your sincere commitment to standing up for what you believe in, they become more than just customers, but powerful advocates for your brand.
“Just as the bar has been raised for companies to play a positive role in society, 71% consumers also expect companies to connect with them emotionally on issues that matter to them personally”.
Start by listening to your customers to learn what they care about on an individual basis. Once you understand what makes them tick, mobilise your product/ service as a tool through which they can support the things that matter to them. When your product creates meaningful value for your customers on a personal level, it will quickly become indispensable. We chat more about this here.
Today’s businesses have a powerful opportunity to stand up for what matters to them. And, if they articulate and deliver their commitment in an engaging way, they’ll quickly learn that purpose and profit are far from mutually exclusive.
If you'd like to learn more about how to build purpose into the core of your business, just hit below.