What is Brand Purpose?

In the simplest terms, brand purpose is the reason why your company exists beyond just making a profit. It is the fundamental driving force behind everything your business does, and it should be reflected in every aspect of your operations, from your products and services to your marketing and communications.

Brand purpose is often used interchangeably with other terms such as “mission,” “values,” and “vision.” While these terms are related, they are not the same thing. Your brand purpose is the deeper meaning behind what you do, while your mission is the concrete objectives you set out to achieve. Your values are the guiding principles that inform how you do things, and your vision is the ideal future you are working to create.

A strong brand purpose goes beyond having a catchy tagline or a set of values. It is about having a clear and meaningful reason for being that resonates with your customers and inspires them to support your brand.

Why is Brand Purpose Important?

In today’s world, consumers are more likely to support brands that share their values. According to a survey by Edelman, 64% of consumers around the world will buy or boycott a brand solely because of its position on a social or political issue. By having a clear and compelling brand purpose, you can differentiate yourself from the competition and attract customers who share your values.

Here are some other reasons why brand purpose is important:

1. Provides direction: Your brand purpose serves as a North Star for your business, guiding your decision-making and providing a clear direction for your operations.
2. Drives innovation: When your business has a clear purpose, it can inspire innovation and help you identify new opportunities for growth.
3. Builds loyalty: By having a strong and meaningful brand purpose, you can build a loyal customer base that is more likely to support your brand over the long term.
4. Attracts top talent: Today’s employees want to work for companies that have a clear sense of purpose and are making a positive impact on the world.
5. Creates social impact: By aligning your brand purpose with a social or environmental cause, you can make a positive impact on the world while also building a stronger brand.

Examples of Brand Purpose

Some well-known examples of brands with a clear and compelling purpose include:

1. Patagonia: Patagonia’s brand purpose is to “build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” This purpose is reflected in everything the company does, from its sustainable manufacturing practices to its support for environmental causes.
2. Tesla: Tesla’s brand purpose is to “accelerate the world’s transition to sustainable energy.” This purpose drives the company’s focus on electric cars and renewable energy solutions.
3. Airbnb: Airbnb’s brand purpose is to “create a world where anyone can belong anywhere.” This purpose is reflected in the company’s emphasis on community and its mission to help people connect with each other across cultures and geographies.
4. TOMS: TOMS’ brand purpose is to “improve lives through business.” This purpose drives the company’s “one for one” model, where it donates a pair of shoes to a child in need for every pair of shoes purchased.

Final Thoughts

A clear and compelling brand purpose is essential for building a strong and meaningful connection with your audience. By defining your purpose and communicating it effectively, you can differentiate yourself from the competition, build customer loyalty, and create positive social impact.