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 sh...