31 JANUARY 2020
Most companies have a brand purpose, but how many are activating it well?
Purpose is the reason why a company or brand exists. Most companies have found and defined their purpose (and talk about it, a lot). A start. But identifying your purpose alone delivers little business value.
It is the implementation and activation of purpose that has been shown to lead to incredible growth.
Purpose used to be seen, at best, as feel-good fluff. But in today’s world, expectations of consumers and employees has never been greater. Every company must not only deliver financial performance, but also show how it makes a positive contribution to society.
It’s no longer feel-good fluff – it’s business critical and makes bottom-line sense.
A recent study by Deloitte found that among marketing leaders, 76% think their organisation has a defined purpose, but only one in ten have a corporate purpose statement that’s actually backed by a meaningful activation plan.
80% of companies stated that a clear and collective purpose is linked to customer loyalty and 89% said it drives employee engagement. Nearly two thirds of millennials and Gen Z express a preference for brands that have a point of view and stand for something.
Activating purpose cannot happen in a vacuum though. It need to involve customers, employees and the larger ecosystem of stakeholders. Identify what you stand for, ensure everyone is aligned, and create an activation plan that puts your purpose into action.
Gone are the days of simply writing a cheque to a charity to tick a box.
We’ve had the privilege over the last two years of helping brands truly activate their purpose. We do a deep-dive into our clients’ purpose and create a platform for them to bring it to life – whether that’s a challenge, project visit, employee workshop, inspirational talk or ambassador programme. Everything we do is completely bespoke to our clients’ needs, nothing is too great a challenge, and we understand that one size does not fit all.
We are so proud to work with an existing portfolio of clients that truly believe in their purpose and have chosen to work with us to activate it. We would, of course, love to work with more…
Here’s to a year of less talking, and more doing, when it comes to brand purpose.
Lucy Bennett-Baggs, Founder & CEO, Just Challenge
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A four day trek with Arsenal FC legends to Petra, Jordan, for fans employees and executive members to raise funds for their refugee camp in Jordan…
Over 100 KPMG employees and clients trekking through the Himalayas and China to raise funds for their sustainability partner charities…