Time To Think About Brand Purpose | Estacha Communications

 

What is branding purpose: A surprising fact was revealed in a recent global survey. No one will notice if 77 percent of all brands in the world today disappeared tomorrow. Brands from all sectors have tried every trick in the book to avoid being counted in the 77 percent. One of the most prominent trends to emerge in the last decade is “Brand Intent”, which is the product of this never-ending search for “meaningful” positions in consumers’ lives.

Marketers, on the other hand, went down a slippery slope when ‘Brand Intent’ became conflated with “saving the world.” Recent marketing history is rife with examples of marketers exploiting “trending” causes and social problems with a superficial motive, only to be called out for “woke washing,” resulting in damage to both the brand and the bottom line. Meanwhile, customers are more critical of companies than they have ever been.

Nonetheless, studies from around the world indicate that people favourably view and patronise brands that share their beliefs. So, in this modern consumer era of paradoxes, what do marketers do with ‘Brand Purpose’? Recognize the benefits and disadvantages of ‘purpose’ to begin.

According to a report, brands that are regarded as “meaningful” and “helping to make the world a better place” have seen their wallet share increase by 9 points and their purchasing intent increase by 24 points. Furthermore, “meaningful labels” outperform the stock market by 134%.

Having an established brand objective also brings a sense of protection and trust to the brand. Although highly functional advertisement was popular for a decade or two, more purposeful advertising is the way to go in the future. We are forced to ask awkward questions by Brand Intent. ” Concerns about the brand’s relevance to the lives of those it serves, as well as “what difference can the brand make” and “does it matter if they exist at all.”

Purpose-led brand movement is the solution for the future. True brand intent necessitates as much determination on the part of the designers as it does on the part of the brand. Initiatives that simply inform you what you should ‘do’ rather than manipulating how you should feel. Since guilt-marketing helps no one. Not the customer, culture, or, most importantly, the brand.

When marketers find a reason that aligns with their product and brand ethos, they will help all stakeholders create a higher-order emotional connection. However, for these ties to stick, they must go beyond contact and take root in cultural structures and individuals.

Estacha Communications is the best branding agency in Bhubaneswar that has great expertise in the field backed by a team of experts with great experience in the field, we have all the necessary tools that can transform your business and establish it as a brand. For all branding related services please do write to us at info@estachagroup.com. Please do follow us on Facebook, Twitter, and LinkedIn