Marketing Tips, Insights, and Trends
What is the Purpose of Your Branding?
Author: Rachel Durkan Category: Branding Date: November 18, 2022
What is your purpose? You may go your whole life without being able to answer the existential question of your life’s purpose, and that’s OK. Life’s a journey, right? But if you are a business owner, knowing your brand purpose is an immediate need.
But what is branding and marketing? What goes into branding? Is your brand your company? Why should you care about anything having to do with purpose branding? Let’s dive in.
Your Brand Purpose
Why did you start your business? For most businesses, it began with a problem you were trying to solve.
So, when you are thinking about what your brand purpose is, that’s where you start. Your brand purpose is… wait for it… the purpose of your brand. We’re not talking about the purpose of a logo (that is important, but that’s a different blog.) A brand is more than a logo. It is why you do what you do, what sets you apart from others, and the change your solution makes in the world. It lays the groundwork for everything you do and the decisions you make.
You can easily confuse brand purpose with your company mission, vision, and values. They are not the same, but they should come as a package deal. Your purpose is your why, your vision is where you are going, your mission is how you get there, and your values are the standards you follow as you go. It all starts with your purpose.
When you think of brand purpose examples, some brands have some big social ones. One such business branding example is TOMS. For every pair of eyewear or shoes TOMS sells, they give one to someone in need. It’s also a great example of reasons to believe in marketing power because their desire to help others is infused in all of it. Bombas uses the same idea with their socks. Another brand with a purpose is REI, who created a movement to get people to spend more time outdoors with their #OptOutside campaign. Nike has long encouraged their customers to “just do it” and took it a step further when it asked them to “take a stand” and featured controversial figure Colin Kaepernick in their campaign. Ben & Jerry’s ice cream champions combatting climate change, while Dove focuses on body positivity.
You don’t have to go as far as these brands or products for your purpose. You don’t have to be aiming for world peace to have a brand purpose. One important purpose of a brand is for consumers to get to know you. If your product or service allows a dad to spend time at his daughter’s basketball game, that is your purpose when branding your product.
Why is Branding Important in Marketing?
One of the key benefits to successful branding is that potential customers get to know you and, hopefully, come away with a positive impression. Your purpose helps drive how your branding works and reminds you who you are when you need direction or to adjust. A benefit of branding your business with your purpose is that it helps customers view the interaction as a connection, not just a financial transaction. It also helps set you apart from your competitors.
In today’s market, consumers want to feel like their buying power matters. Whether they are supporting a powerful cause, small business, or one that is minority-, women-, or family-owned, they weigh these factors along with price and the product itself when making their decision. Some stats to consider:
- 57% of consumers are more loyal to brands with a brand purpose that aims to address social inequality. (1)
- 78% of Americans believe companies should make a positive societal impact, not just make money. (2)
- 77% are connected more strongly emotionally to a purpose-driven company than a traditional. (2)
- 66% would swap a product they usually buy to one from a company who does their branding with purpose. (2)
Tips for Your Brand Purpose
When establishing your company or product branding purpose, there is no all-purpose branding approach. But here are some best practices:
- Start with important questions. What is your “why?” What are you passionate about? What are your talents? How are you different? What change can you empower?
- Be authentic and honest. Your purpose must reflect your values and resonate with your audiences. Consumers are looking for truthfulness and integrity.
- Infuse, but don’t overuse, your brand. Your brand purpose should be apparent in everything you do, but don’t overwhelm your audience with it. You risk detracting from the fact that you are providing a valuable product or service.
- Don’t be short-sighted. It is impossible to predict the future, but don’t limit your purpose to the here and now. Think long-term with your brand purpose.
Your branding strategy affects every part of your business, from embodying the core of your organization itself to serving as the backbone for a streamlined marketing and communications plan. We believe in the importance of providing you with brand strategy and design services that help you achieve a cohesive, united brand identity you can be proud of. If we can help you translate your brand purpose into powerful marketing that helps you reach your business goals, please contact us today.