What is it that caused a local Swedish peer-to-peer application, Swish, to be perceived as more purposeful and innovative than Google in just a couple of years? Why does having committed employees correlate with people's belief that a company will have a clear role and be popular in the future? Why is it not enough to perceive sustainability as purposeful? And why is it important to create progress with purpose?
In this article, we will discuss these and many more questions as we decode why purpose is important and what it is that makes a brand purposeful.
Brand purpose is the glue that keeps it all together – your customer target group, employees, societal stakeholders and the creation of new business. It defines the role your brand plays in improving society and people's lives. It is the sense of direction that makes your employees passionate about what they do and what causes your target customers to love and connect with your brand.
At Lynxeye, we have been conducting research on the subject of purpose for several years. What we have found is that brands that are perceived as purposeful also enjoy a higher level of brand preference. In other words, people prefer brands they see as purposeful.