Purpose Driven Branding | The Impact Post
Issue #10 | Tue, Mar 9, 2021
Dear Friends of NuSocia,
We live in an era of disruption where consumer expectations are changing rapidly as organisations are increasingly asked to take a stance in face of growing socio-economic inequalities, climate change, effects of COVID- 19 and so on. What is your organisation’s core purpose for being and how can you have a positive impact in society? Now more than ever you need good answers to these questions.
In this edition of the Impact Post, we are exploring the various facets of purpose and how companies can connect with their employees and their customers on a deeper level by tuning into their shared beliefs, core human values and take decisive action to create long term goodwill, build resilience and thrive in the face of uncertainty.
As the best-selling author of “Start with Why” Simon Sinek succinctly expressed-“ People don’t buy what you do, they buy why you do it”.
Happy reading!
Readings : Food for Thought
We have carefully curated a selection of reading list for you to get an in-depth idea of the rise and importance of purpose driven branding.
1. Put Purpose at the Core of Your Strategy
This HBR article explains how executives can develop and implement a purpose at their organizations. It also describes the benefits they are quite likely to see once they do: a more unified organization, more-motivated stakeholders, broader impact, and more profitable growth.
Read more
2. Tackling Business Problems using ‘purpose led branding’ strategy
This internal article from the NuSocia Knowledge Cell delineates a step by step approach in building a social purpose brand from scratch to guide marketing communications, inform product innovation, and steer investments toward social cause programs.
Read More
3. Seven Components of Purpose Led Brands
The thought provoking article posits that we have entered into the "Age of Purpose" and business models that can deliver both promise and profit are poised to thrive in the face of social,ecological and economic uncertainties. After speaking to hundreds of business leaders,the author outlines the seven essential components of purpose-led business.
4. The Business Case for Purpose
Read this Harvard EY Beacon Institute research study which surveyed global business executives about the extent to which purpose is utilized by their organizations. The research showed that companies which prioritised purpose were more likely to have growth of over 10% in the past three years, had expanded their companies into other territories, launched more products, and there was a clear link between purpose and the ability to innovate and transform.
Read More
Expert Speaks
Cheryl is a Global Strategy Leader. She is passionate about Purpose-Led Transformation and believes that purpose and meaning have an important role as a strategic, transformational element in business today. In this TEDx Talk she explains her research which suggests that purpose, and especially purpose activation, enhances organizational agility and does so in a way which drives sustainable growth for businesses
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