Built on Purpose: What is Brand Purpose and Why is it Important?

As an entrepreneur, your business is more than just what you do or how you make your living. It’s the thing that gets you out of bed in the morning, and keeps you going on challenging days — of which you have many! Your business is connected to your purpose — your reason for being on this earth — which is to leave it a little better than you found it. This purpose is also the thing that will draw new clients to your business and keep existing customers coming back time and time again. A strong brand purpose will not only help you attract and keep clients, but will also serve as the basis of all things marketing and communication.

What is Brand Purpose?

Brand purpose is a company’s reason for existing beyond making money. For example, if your company is in the fitness industry, your purpose could be to empower people to create their healthiest lifestyle. Every business decision you make, therefore, is connected to this mission to help people live healthier lives, from the products you create to the services you offer.

Why Purpose Matters

Establishing your brand purpose is something that you should do before you “open the doors” to your business. It serves as the foundation for everything else you will do as a company.

Create Customer Loyalty

In today’s socially and environmentally conscious world, consumers are paying close attention to the beliefs of a brand and its views on topics that are important to them. Consumers want to engage with businesses that provide great products and services, but that are also good citizens of the world who use their resources and platform to serve the greater good. Having a strong brand purpose will create loyalty among your customers because they will want to support your greater overall mission.

Set Yourself Apart from Your Competitors

There are millions of businesses around the world. In fact, in the United States, 4.4 million businesses were started in 2020 alone — the competition for consumers’ attention and business is fierce. Companies have to work to set themselves apart from organizations that provide similar products and services, and having a strong brand purpose is a way to do just that. Conscientious consumers are far more likely to do business with companies that make it a point to give back to their communities and create an environment where their employees feel valued than to make a purchase from a company that sells what they’re looking for at the most affordable price.

Your Brand Purpose is the Foundation for Your Digital Marketing

Before you can develop a marketing strategy — how you’ll connect with your current and potential customers — you have to define your purpose. If you haven’t defined why you’re in business beyond just “making money,” then you’ll be hard-pressed to create a strategy that will connect with people on a genuine, human level, which is what consumers are looking for. Knowing your purpose will help you decide everything from your brand voice and tone to where and how you want to engage with your audience, and will significantly increase the likelihood of reaching the people you are setting out to serve.

The Purpose of Hackett Brand Consulting

At the core of Hackett Brand Co. is a strong desire to be a force for good. The purpose is built into everything we do, and we aim to work with like-minded companies that are also mission-driven. For us, that means finding people who want to do good things in the world and creating a marketing strategy that will grow their business and help them make the greatest impact.

Only you know the purpose behind what you do day in and day out, but if you’re ready to expand your business, we can help! Connect with us and we can dive deeper into how you can use your brand purpose to grow your business.