When You Ask Yourself How You Can Make Your Brand Matter, Think of the Three P’s.
Ads and messages increasingly bombard U.S. consumers throughout their daily lives. This can come from waking up and watching the news, walking down the street, and seeing a billboard and scrolling through social media. Brand loyalty is becoming a thing of the past due to the clutter of ads and the rise of ad blockers. Not only are consumers tuning out all the noise, but they can get whatever they want, when they want, from various places. However, the good news is that according to a survey conducted by McCann Worldgroup’s ‘The Truth About Global Brands’ study, 80% of people firmly believe that brands can affect positive social change and are more likely to buy from a brand with purpose. For your brand to be successful in this regard, purpose needs to be something embedded into the core of your brand’s business strategy as well as your brand’s personality. This is why thinking of the three P’s is important.
Passion
Brands can only succeed by tapping into the experiences and things consumers care about most. You want your brand and products to resonate with your consumers, so you need to curate passion-based experiences. By curating these authentic experiences, you enable your product to resonate more strongly with your consumers. Raja Rajamannar, Mastercard’s chief marketing and communication officer and president of the World Federation of Advertisers, says to imagine you are a sports fan at a baseball game who, using a particular product, has an enhanced experience that allows you to meet the players. That speaks volumes about what you can deliver.
People
According to LinkedIn’s latest Workplace Culture report, 86% of millennials would consider taking a pay cut to work at a company with values and mission aligned with their own. Purpose is transforming corporate cultures. When a company has a strong sense of purpose, it attracts consumers and talent and creates overall brand affinity. It would be best to strive for an encouraging, empowering, and accepting space and culture.
Profit
Purpose is the ability to embed social good into the core of your business and your brand. Rajamannar says that “purpose is not just philanthropy” and that “doing well by doing good is not a fad.” Purpose is a long term commitment, and companies need to find the link between profit improving economic and social conditions in their communities.
While keeping the three P’s in mind, it is also important to consider other principles to guide you. Start by thinking about what cause or purpose you want tied to your business or brand. Then you can come up with scalable ideas, use the power of partnerships and collaborations, and engage your employees.
If you are interested in learning more about making your brand matter, give us a call today at 334-446-6149.
Posted: Jan 04, 2024