Strategically Leveraging Purpose-Driven Marketing

Purpose-driven marketing has become popular as consumers are increasingly looking for brands that reflect their values. Yet, there are certain aspects of purpose-driven marketing that companies should be wary of. 

As much as some brands are being praised for their mission and value-driven initiatives, others have been criticized as being disingenuous in their efforts. While there is a certain transparency that comes along with profit-driven marketing– revealing an agenda that consumers often don’t like– a value-led marketing campaign can also be off-putting at times. Consumers are smart and will try to figure out what they’re really being sold. 

This lack of trust is largely due to the long history of corporations being driven by profit focused bottom liners. And, even when companies share their core values as paramount, this isn’t always the case. Many companies focused on sustainability, for example, have been accused of greenwashing, a marketing scheme whereby companies pander to sustainably-conscious consumers while underhandedly prioritizing profits in ways that go against their principles. 

Now that the secret is out and companies know that purpose-driven marketing can be an effective way to drive sales and loyalty, consumers are increasingly discerning and demanding of the brands they support. 

Marketing Versus Core Values: Acting with Authenticity and Consistency 

When it comes to purpose-driven marketing, it really boils down to authenticity – we’ve said it before and we’ll say it again. 

First of all, it’s important to make a distinction between purpose-driven marketing, and more fundamentally being motivated by purpose. Merely marketing a company in a way that highlights core values and social issues is often a good start, but can come across as a money grab when not backed up by the brand’s other actions. 

Consistency is crucial when it comes to a company’s actions and messaging. If your company supports a certain cause, donate proceeds to said cause and partner with creators and other brands that hold similar values. Anything less might come across as disingenuous. 

Building Brand Image and Identify Your Why

Equally important is to create a story that makes sense for your brand. Aligning with causes that are outside of your wheelhouse, so to speak, might seem random. 

It’s also crucial to align your core values with a deeper sense of purpose that makes sense for that particular brand. The causes that make sense for a tech brand might be different than those for a consumer clothing brand.

The key to all of this is to have a why. This could be included in a founding story, relevant to social issues within your industry, or be pertinent to the company culture you’re trying to cultivate. 

Finding Balance and Utilizing Appropriate Channels 

Being led by values doesn’t necessarily mean that those values need to dominate every aspect of your company. 

A great example of this is JP Morgan’s award winning Women On The Move podcast. The podcast highlights the importance of gender equality in finance, which is relevant to what their company does, and yet offers a new way for them to reach and engage with clients, helping to communicate something that is central to their values in a way that feels both authentic and relevant. Importantly, this podcast is also not a marketing campaign. Instead, it helps to establish their values as a company, facilitating a community of like-minded individuals.  

Magnet is ultimately a purpose-driven brand, and we believe that finding the right ways to communicate your purpose and values is crucial to success. 

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