The consumer market is changing. People are asking for a meaningful connection with businesses. This has made it essential for businesses to stand for ONE KEY issue to connect with their customers.
Today there are five key issues brands are facing in the contemporary business field.
In this age of fast communication and market saturation brands struggle to:
2. Build deep customer loyalty
3. Stay relevant to meet changing customer expectations
4. Produce emotionally engaging content
5. Create a culture where people love coming to work
So what can brand’s do to address all these issues? The first and most important is brand’s need to identify their corporate values and their social purpose.
Today 88% of consumers want to know how brands are making the world a better place. This is the biggest trend driving business day.
Edelman’s 2018 Earned Brand study found 1 in 2 people are belief driven. They choose, switch or boycott a brand based on its stand on social issues.
So even before companies start to create their PR, marketing and strategic plans for the year they first need to identify their WHY and their social purpose.
As Simon Sinek says, “people don’t buy what you are doing, they buy why you are doing it.”
So for this new year the one critical thing brands can do is ASSESS and identify their WHY and social purpose.
They can do this by asking themselves these critical questions:
1. What were and are the values and aspirations of the company founders?
2. Are you bringing these values to life and using them in your storytelling? Because this is what truly sets you apart.
3. What causes do the founders stand for and how do you support them?
For example: Anita Roddick, founder of The Body Shop was against animal testing. Today the business still supports this issue and uses it to guide their marketing and culture.
4. Are staff and customers clear on your corporate values and the issues it cares about?
5. Is the CEO sharing and promoting these values to ingrain them in the corporate culture?
Once these values are identified you then need to ensure they are ingrained in your corporate culture and are brought to life through your PR, marketing and storytelling.
Your staff are your most powerful brand advocates and supports, they represent your company and are tasks with setting the strategy for the year so it’s important that your unique proposition your values and social purpose are highlighted this year.