ANA Identifies Eight Attributes of Purposeful Brands

Purpose is far from a Holy Grail when organizations fail to make it a priority from the Csuite on down and for many companies the challenges of executing purpose successfully often are too onerous to overcome However it would be imprudent to dismiss the extensive evidence pointing to the gamechanging nature of an authentic and actionable purpose from quantitativequalitative data and case studies to white papers and peerreviewed articlesStrong consideration also must be given to the perspectives of leaders at top purpose brands and the partners with whom they engage to create and activate a brand39s purpose journey eg agencies consultancies academics Indeed they are in the best position to separate fact from fiction and perception from reality and make the strongest business case for purposeTo that end here are eight attributes of purposedriven brands based on the opinions of people who would know bestEmbrace the challenge of purpose quotA purpose statement should not make you feel safe If you39re truly committed to change in your community you should feel a little unsafe You should feel challenged You should feel that it is a bit of a risk because change does not occur otherwise unless you39re willing to step up to those challengesquot Judy Sroufe Vice President of Brand Marketing and Communications at Standard TextileWelcome myriad points of view quotI know for certain that if our purpose is to build trust in society and solve important problems we can39t do our best thinking unless we have diverse mindsets come to the table amp8230 That diversity of thought comes from bringing in people of different backgrounds and different experiences but equally important it comes when people are willing to share parts of themselves and offer a deeper level of contribution and engagement because they feel comfortable with the culture that you39re buildingquot JC Lapierre US Chief Strategy and Communications Officer at PwCUnderstand purpose starts at the top quotI like to say that the CEO is the thermostat not the thermometer when it comes to purpose A thermometer measures the temperature in a room a thermostat sets it The CEO sets the tone and everyone else has to live in that climatequot Rob Chestnut author and former Chief Ethics Officer at AirbnbTie purpose to business strategy quotMany firms are using their capabilities to affect some social change One way for these firms to do even more is to minimize the extent to which their efforts might feel like oneoff activities or siloed activities and to intentionally integrate them into their business strategy To me this is the secret sauce They39re not just doing these things independently but they have builtin systems or processes that allow them to realize the synergistic gain that can be associated with an integrated strategyquot Dan Grimm distinguished Executive in Residence at Rutgers Institute for Corporate Social InnovationEngage the finance department quotFor purposeled corporations to make progress on issues they have to apply capital toward them And you have to make a business case for the activities you39re undertaking and the investments you39re making Therefore it39s important to integrate the finance function into these decisions Finance has to understand the basis on which investment decisions are being made and understand the benefits of those investments and account for themquot Brian Tomlinson Managing Director of ESG at Financial Accounting Advisory ServicesWork with the right charity partners quotIf a brand wants to talk about an issue finding an NGO with the authority credibility and expertise is how to connect in an authentic way That not only helps the brand communicate what they want to and talk about the issue in an appropriate way but it also provides impact behind their words amp8230 A great NGO partner that can facilitate impact is the number one differentiator when it comes to purpose that is successful or a purpose that is a bit shallowquot Amy Williams CoFounder and CEO at GoodLoop Encourage consumer participation quotOne of the most powerful ways to build trust around purpose is inviting consumers to take action alongside you That model implicitly creates awareness of what the brand is doing It also creates transparency because the consumer is effectively partnering with the brand in making that difference It takes away that dynamic of a brand standing on a podium and announcing all the good they39ve done and creates much more of a twoway relationshipquot Melissa Anderson CoFounder and President of Public GoodSet realistic expectations quotIt39s always nice to have that vision about saving the planet but it39s much more practical to start small and focus amp8230 If your products have agricultural ingredients for example just pick one or two of them and get close to your suppliers and try to have a meaningful impact Be creative about what you can do but also be realistic about what you can achieve amp8230 Resist the temptation to oversell what you doquot Gero Leson Vice President of Special Operations at Dr Bronner39sClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

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ANA Identifies Eight Attributes of Purposeful Brands

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Ken Beaulieu

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

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ANA Identifies Eight Attributes of Purposeful Brands

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