Written by Evie Ridyard | Mar 2, 2021

How to build a business with purpose: 9 key questions to ask yourself

Articles

The ACE framework is a replicable set of guidelines we use when working with consumer-facing businesses to build purpose into their digital products. Our 3 step guide helps businesses to cultivate a purpose in such a way that they create meaningful impact for society whilst also driving new customers to their products and services.

You can have a read of our ACE framework here. 

In this article, we’ve pulled together a helpful set of questions for business leaders and thinkers to consider when implementing the ACE framework. These pointers will help to ensure your purpose is deep-rooted and reflected holistically throughout your organisation.

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A - AWARENESS

For purpose to hold influence over consumer behaviour, your audience must be acutely aware of what your brand represents.
  1. What do you care about? What are your core values?
    As a company, think deeply about what you care about and what you stand for and use these core beliefs to guide your directions and decisions.
  2. How are your values reflected in the day to day running of your company ie. your supply chain?
    90% of the negative social and environmental impact (ie. impact on air, land, water, biodiversity) of the consumer sector takes place in supply chains. If your ethical claims are no more than an advertising promise, your purpose is redundant. For purpose to be influential to customers, it must be lived each day. Ask yourself: are you treating your employees, clients and partners at every stage of your supply chain fairly? How can you continue to make things better to ensure your purpose and your values are reflected at every touchpoint?
  3. How are you making your customers aware of your purpose?
    Incorporate your purpose into your marketing strategy. When your purpose and values are represented in your brand identity and the product itself, customers with shared principles will be drawn to your offering over your competitors.

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C - CREDIBILITY

Voicing your commitment to impact is one thing, but supporting it with tangible action is another. Credibility is imperative if your purpose is to attract new and loyal customers.
  1. What causes can you partner with that distinctly align with your brand?
    Committing to social impact doesn’t have to mean taking on the burden of all the work on your own. Collaboration is commendable. Consider partnering with a relevant and esteemed cause that can help you deliver meaningful impact. A coalition enhances your credibility, as well as your impact. Top Tip: we recommend choosing causes that are relevant to your product or service in some way. Deviating too far from what your company offers risks being perceived as performative and can lose legitimacy.
  2. Can you enhance your credibility through allegiance to accredited initiatives?
    Allegiance to reputable initiatives is a great way to demonstrate your credibility. Consider applying for B-Corp Status, becoming a 1% for the planet partner, or powering your business with Percent. In a world swamped with greenwashing and virtue signalling, a stamp of approval from a trusted organisation holds great weight.
  3. How are you measuring your impact?
    Be sure to measure and communicate the depth of your impact. Financial Reports, interviews and visual documentation of your work are all hugely influential resources. Think about creative ways you can consistently show your audience that you’re delivering tangible results.

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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.
  1. Are you listening to your customers needs?
    Establishing your brands' values is important, but for your customers to be engaged by your purpose, it must strike a chord with them personally too. Consider conducting customer feedback surveys to get a deeper understanding of what your customers care about personally. The businesses that meet the needs of their customers are the ones rewarded with a share of their wallets.
  2. How can you engage your customers in creating positive impact through using your product/service?
    How can your product become a tool through which your customers can create their own positive impact? When your customers associate your product with the reward that comes from doing a good deed, they will both personally champion your brand and be compelled to keep coming back for more.
  3. Can you launch a product or feature solely committed to impact?
    Consider innovative ways to measure your customers' hunger for impact. Release a product solely committed to impact and measure its success to better understand where your customers’ interests lie, and to what extent purpose drives new business.

If you want to chat to one of our team to learn how to build purpose into what you do, hit below. We'd love to help.

Written by
Evie Ridyard

Content & Marketing Manager