Purpose-driven marketing is not a new concept, but it separates the good players from the mediocre ones. Great companies that drive innovation and inspire action know and understand their purpose; their “why” for doing what they do.
The Purpose of Purpose
Purpose defines what your business represents, where it’s going, what it stands for, and the value you provide to your potential customers. Even from an early age, we understand “why” is the motive behind our actions. (Seriously, who can’t recall their 2 year old running through a loop of “why”?)
Some say, “I just want to make money”, or “I want to have freedom from my 9-5”, or “I just want to help people.” While all those are legitimate reasons, they’re hardly a purpose that defines a successful business. Simply put, they don’t identify and communicate the value behind your product or service. They don’t relate to your potentials customer’s wants, needs, or pain-points.
Your purpose defines your brand’s positioning. Its marketing. It should permeate every decision that the company makes, thus paving its road to achieving its primary objective as a business. Every decision should be made with the thought, “how does this align with our purpose (why)?” How you engage with your customers through social media, in person, and support channels are defined by your purpose and the actions you take reinforce it. It’s like the circle of life (of a business)!
Know Thy Customer
With all the tools at our disposal, now more than ever, businesses today have the ability to truly understand their customer base. From who they are, to what they think and what they like or dislike, companies can really relate with their customers. People want to connect and be able to relate with businesses and their owners, even if they aren’t meeting you physically. Simon Sinek, a marketing consultant and speaker, said, “People don’t buy what you do; they buy why you do it.”
Knowing your customers will effectively help your organization understand where to spend its marketing dollars and help in the kind of content that it should publish online via social media or its website. By being more in tune with your customers and understanding their needs, wants, pain-points, and frustrations, you can correctly position your business to provide a valuable solution (and hopefully give a fantastic customer experience!). From there, you can create loyal customers that will love your business and tell their friends and family! And we all know the power of “word of mouth” testimonials!
So, what else does “purpose” define in my business? I’m glad you asked. Hiring. Who you hire and why you hire them can be traced back to your company’s “why.” Questions you may ask in an interview or on a job form should revolve around understanding the person you are looking to hire. Some questions you may ask yourself are:
- “Do they align with our business’s identity?”
- “Do they share the same values as our (existing) team?”
- “Will they help us in achieving our purpose?”
This goes beyond the traditional way of thinking of “can they do the job,” but instead seeks to onboard individuals that will progress the individuals in your business and the business as a whole. This creates for a more fluid and cohesive work environment that is more productive and embraces the company’s values. Employee retention will be higher, productivity will increase, and worker satisfaction will be at higher levels than before.
Where Does Our Purpose Take Us?
We’ve seen so far that our “purpose” or “why” helps align us with our potential clients, employees and help us have some sort of direction in our company. But none of that is money, which is why anyone goes into business for themselves.
While none of these components actually bring in the revenue that entrepreneurs seek, the use of all these concepts and ideas form a business that knows where it’s going, who its customers are, how to engage with them, and who to hire. This type of strategy will create an organization that customers will want to buy from and tell their friends about.
We would encourage you, especially during this pandemic, to take a hard look at your business (and yourself) to discover your purpose in doing what you’re doing. It’s an excellent time for some self-reflection and to make sure you are on the right track. And don’t worry if you don’t get the wording down the first time and or it doesn’t sound “good.” The important part is that you started the journey to discovering your “why.” You’ll probably go through many iterations until you nail it down.
If you are not sure where to start or need some help moving in the right direction, you are more than welcome to contact us or email us directly at email@example.com. We would love to help you and your business find its purpose and set in motion the devices to achieve its mission.