We live in momentous times. We are witnessing the change from the industrial era to the robotic revolution. Automation, voice activation, driverless cars, cashier-less shops and robots everywhere is what we can soon expect. Never before has so much power been in the hands of a consumer. It is an exciting time to be alive in these technologically charged times. Layered on top of this, in the UK, we are also facing the uncertainties. A big one will be Brexit and all the opportunities and challenges this will bring.
I believe that as things pan out some things will not change. On a broad, human level, people will still look for brands and products which will give meaning and value to their lives. They will continue to look for emotive causes to join. Studies are showing that in this touchscreen/voice command world where we can access a million products of the same type that what we crave is more meaning. As consumers, we are even willing to pay more for purpose-driven brands. Why? Because we are happy to join a cause we believe in. It is a deep human need to strive to be more. We are more than happy to align ourselves with brands which believe what we believe.
The modern consumer does not buy from a brand – they join them.
I do not care that you want to get rich
Most people go into business to make money – and this is noble – but consumers do not care that you want to make a profit. They do not buy from you so that you can get rich. They buy for other reasons. They buy because you add meaning. Because you solve a problem. Because what you offer is more than your competition. Because they believe in something over and above your profit margins. So, putting the idea of making a profit to one side, ask – why do you exist? What is that extra “thing” that your most loyal customers believe in?
The brands which will thrive in the coming turbulent future will be those who know who they are. Plus, know what they stand for, what they do not stand for, and more importantly, understand why they exist. These will be the brands who have taken the time to look at their businesses. To discover, define and articulate their purpose. It is purpose which can help us stay true to who we are. And, keep our loyal customers coming back – even in an ever-changing commercial landscape.
Why? Because it is these brands which we connect with on a deep level. It is these brands who will indeed fight for us. Help us keep winning because they align with us – assuming, of course, they will be living their purpose. How will these brands live their mission? First, they need to do the basics right. They need to look within and define that purpose. They then need to hold themselves accountable and live it. You cannot be responsible for something that is never identified.
Market Insite & a free guide
For those who have attended the yearly Market Insite events hosted by Innes England in Nottingham, Leicester and Derby you will have no doubt heard me speak on branding and “The power of purpose”.
In these talks, I reference a free Fifteen guide which can begin to helps teams uncover their purpose by using a typical story structure and asking “Why”? We have decided to open this up as a free download on our site here for everyone to enjoy.
Stay true to your purpose
Another great resource is one of the most watched “Ted Talks” by leadership coach, Simon Sinek. If you want more of a deep dive into the power of purpose watch it here:
My message at Market Insite was simple. In all the ‘hubub’ of the information soaked culture we live in, let us get back to basics.
- Why do you exist?
- Who is it you exist for?
- What goal are you helping them achieve?
- What challenges are you helping them overcome?
- Why is your business and brand relevant?
Once you know this, it’s then up to you to define it and ensure that this purpose is lived.
Stay true to your purpose. Hang onto it and never lose sight of what you stand for – no matter what the future throws at you.