Will You Be A Business With Purpose In 2023?
In honour of Random Acts of Kindness Day, the day dedicated to spreading kindness, we are dedicating this blog to being a business with purpose and all the kindness in 2023!
This day may not be directly connected to marketing, but many businesses will be using the day in their strategy to promote kindness in their messaging. Promoting kindness with a whole day dedicated to it is amazing, however, it’s what businesses do on every other day of the year too that counts.
A huge current trend in 2023 is making your marketing purpose-driven. The world is facing multiple crises, from climate change to social inequality. Taking a stance on the issues your customers care about will help you stay relevant.
The businesses that aim to make a positive difference in the world by creating products or services that benefit people, communities and the environment will be the businesses that stand out this year.
Why is being a business with purpose important in 2023?
You may have been hearing all purpose this, purpose that, this year. And that’s because of handful of reasons. Here’s a few of them:
More consumers are specifically looking for brands that align with their values. A study by Accenture found that 62% of consumers want companies to take a stand on issues they are passionate about.
As the younger generation becomes the dominant consumer group, this trend is only set to grow stronger. Gen Z are more socially and environmentally conscious than any previous generation ever before.
A study by Cone Communications found that 87% of consumers will purchase a product because a company advocated for an issue they care about.
Purpose-driven companies tend to have higher levels of employee engagement, better customer loyalty, and are more resilient during times of economic uncertainty.
Purpose-driven brands are able to charge a premium for their products and services, and customers are willing to pay more for them. So, it’s not just about doing good. It’s also about doing well.
5 Top Tips for making your business more purpose-driven
It can be overwhelming to get started on defining your purpose when running a business has many challenges that can be totally exhausting. So here are some tips to jumpstart your thought and get started.
Define your purpose. This should be something that goes beyond just making money and provides a clear value to your customers and society.
Align with a cause. What causes align with your brand’s purpose and key values? Think about a social or environmental issue that you care about and want to help solve that resonates with your customers too.
Take action. Identified your cause? Great. Now what concrete actions are you going to lay down? Maybe it’s donating a portion of your profits to relevant charities, implementing sustainable practices in your operations or creating campaigns that raise awareness about the issue. The Dove campaign for Real Beauty is a great example of this, creating an emotional connection with its customers by aiming to help women and girls change the way they perceive beauty, and giving more resonance to their soap too!
Consider collaborating with other purpose-driven brands that share your values and cause so you can amplify your voice and reach more people.
Be authentic. Make sure it’s a cause you care about for real. Customers are even savvier these days and can see through anything that might be performative.
And lastly, why not bring your customers along for the journey? Make them feel part of the work you’re doing on the causes they care about. Share progress and any setbacks you have faced as this will help build trust and emotional connection.
Remember that being a business with purpose isn’t just a marketing strategy. If you’re still not sure how to add more purpose to your business, just start small, adding a little at a time!
No act of kindness is too small and building a purpose-driven business can take time.
