In our ever-changing accountability culture, brands are being pressured to take a stand and stand behind it. This increasing pressure has forced brands to adapt and change their marketing strategies. They need to be more than what products or services they offer; they need to root themselves deeply as a company and have a clear understanding of “why” they do what they do.
We have all seen business plans and corporate structures that include a mission, a vision, values and key business objectives – the mission being the “how” we accomplish the vision, and the vision being the “why” we do what we do. Much like business planning, marketing planning has similar tenants. You have your brand purpose—the difference you want to make in the world, aka your “why”—and your brand promise—the differentiators for “how” you fulfill that purpose for customers and key stakeholders.
It is so important to align your brand with both your purpose and your promise in order to not only take a solid stance but to follow through in a way that builds trust and loyalty. You also need to allow your brand to facilitate and participate in the conversation publicly and in an authentic way.
When your purpose and promise combine, it creates an organizing principle. This is the core point of business and marketing strategy converging. It is here your “why” and “how” come to life. It acts as a barometer for all decisions made across the organization – from employees and culture to shareholders, communities and consumers. In this issue of Thinking, we will take a deeper dive into your owned communication channels and how to take a stand and follow through in a way that allows you to be good while still being profitable.