Purpose-driven marketing has proven itself to be an effective strategy. At the most recent Cannes Lions, more than two-thirds of the Grand Prix winning campaigns were purpose-driven. An analysis of Grand Prix winners by media experts at PR Week found that from 2016 through 2021, 74% of campaigns met their definition of purpose-driven.
“A purpose-driven idea: An idea that employs a benefit that is societal — as opposed to interpersonal, individual, emotional or functional.” – PR Week
Let’s examine the role that purpose-driven marketing plays in today’s business landscape.
The State of Purpose-driven Marketing in B2B
Most B2B organizations understand the value of having a sense of purpose around their brand but are still uncertain how that purpose plays out in their internal culture, daily operations, and public engagement.
The B2B Paradox reports that 86% of B2B companies said purpose was important to their business, but that “only 24% said purpose is embedded in their business to the point of influencing culture, innovation, operations, and their engagement with society.”
Where organizations are struggling with purpose
The greatest struggle according to The B2B Paradox is that the majority of respondents feel like purpose isn’t being fully integrated into their business strategy. Still, 63% of respondents believe that purpose is important to their work culture.
When employee expectations, organizational practice, and public messaging are not in alignment, then purpose-driven campaigns can come off sounding hollow, and customers will notice.
What successfully centering purpose looks like
As more organizations adopt a purpose-centered business strategy, a framework for success has emerged:
- Purpose must start with the leadership and be a stated value of the organization.
- Behaviors and practices around furthering that purpose should be an integral part of company culture.
- Actions taken around the stated purpose should be measurably impactful and not just sound good.
- Messaging should reflect these actions and promote customers sharing in your sense of purpose.
When purpose-driven marketing comes from a purpose-centered organization, it makes an impact. The B2B Paradox found 85% of respondents stated that they saw deepened relationships with customers as a result of purpose-centered organizational behavior.
“Purpose payoff comes from depth and authenticity. Purpose is not a statement that lives on a wall or in a handbook. In action, purpose is both captivating and highly effective across business metrics, from sales to impact on society.” – The B2B Paradox
The Critical Need for Purpose-driven B2B Marketing
Having a brand that lives its purpose is, of course, an amazing accomplishment. But if your brand isn’t also creating purpose-driven marketing, you are missing out on an opportunity to create deeper connections with your customers.
The Edelman report, Purpose is Not Enough, found that 70% of customers prioritize trusting the brands they purchase from, and that trust is earned through authentic, purpose-driven marketing. “Merely communicating rational and emotional product benefits is now insufficient to build resilient and trusted brands.”
Communicating purpose allows you to broaden your reach and create brand salience among buyers who may not yet be in-market. Purpose speaks to audiences across demographics, industries, and roles, and reaches them on a human level.
“It’s not just about what’s right from the perspective of the success of your business, but it’s also what’s right for your customers and society.” – Reid Hoffman, Co-Founder of LinkedIn
How to Build a Purpose-Driven Marketing Strategy
With your authentic purpose at the center of your brand, the next step is to develop a marketing strategy that builds on the hard work you’ve already done.
1. Define the way your brand uniquely demonstrates purpose
Sustainability is a broad purpose supported by thousands of brands worldwide. The brands that are successfully marketing their sustainability purpose have identified what they do to differentiate their efforts from the crowd.
2. Center your brand identity around that purpose
What is the through-line in your organization that follows your stated purpose from the board room through your employees, communities, and customers – all the way down to what you sell? Once you have that answer, you have found the thread that will be woven into all of your purpose-driven marketing campaigns.
3. Be authentic with your purpose-driven marketing
Your purpose-driven marketing should be a truthful and authentic celebration of how your organization excels at living its purpose. You don’t need to overstate your accomplishments – the very fact that you’re authentically living your purpose will place your brand in a good light.
4. Don’t shy away from incorporating emotions
Marketing that taps into customer emotions is an effective way to earn brand recognition and, ultimately, brand loyalty. Purpose is, by definition, an emotional subject. Storytelling is an excellent strategy for engaging customers on an emotional level.
“A story can be a catalyst for change.” – Bridgit Antionette Evans, Executive Director, Pop Culture Collaborative
Purpose-Driven Marketing is Growing
In their analysis of past Cannes Grand Prix winners, PR Week uncovered a startling set of numbers demonstrating the upward trajectory of purpose in marketing.
In 2012, only 17% of the winning ideas were purpose-driven. By 2016, that number grew to 66%. Today, over 74% of winners are demonstrating purpose in their campaigns.
Now is the perfect time for your B2B organization to reflect on your lived purpose, find a center, and start developing your own purpose-driven marketing strategy.
We’ll see you at Cannes.
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