We are part of a new era in which consumers want to build real connections with the brands they use. Aaron Hurst, founder of Taproot, calls this “The Purpose Economy.” Other people refer to it as “The Purpose Revolution.” Whatever you call it, purpose-driven brands have the advantage.
Prosper for Purpose started as a public relations and development firm. We discovered early on the need for a cohesive brand strategy and narrative. Creating a solid foundation for your brand is just as important as creating a solid foundation for a house; without it, nothing else works. Brand positioning is the foundation of your business. As such, it’s where you need to begin.
Most marketing efforts fail because their brand doesn’t clearly define who the business serves and how it’s different. The most effective way to highlight these points and activate the power of purpose is to outline your brand purpose, brand promise, brand values, and brand principles.
Your brand purpose is your organization’s “why.” Your “why” should be more significant than simply earning profits. It’s the reason you do what you do and the impact you intend to have on the people you serve. Brand purpose is your business’s north star, and your brand should entice your audience to go there with you. Once you determine your brand purpose, it’s time to focus on your business’s promise.
Delivering on your brand promise means providing a unique combination of benefits that uphold your purpose. Your promise should make it clear to your audience why your business is special and how it can serve them in ways other businesses cannot. That promise should make your purpose come alive as you build mutually beneficial relationships with your clientele — relationships that allow them to feel aligned with your objectives in a way that enhances their sense of purpose.
Brand values indicate what your business stands for. While brand purpose is the impact you intend for your business to have, brand values consist of the beliefs that inspire your purpose and the culture(s) with which your business identifies. Your values should reflect your morality and guide your decision making to fulfill your business’s mission.
Your brand principles are how your business lives out your brand values. In other words, brand values guide business decisions, and brand principles set standards for behavior. The standards you choose constitute your business ethics, which should back your values and, if you’re a service-based business, help your clients satisfy their purposes.
I’m a financial consultant who teaches women business owners how to obtain funding. I teach about venture capital, grants, and loans and how to evaluate what is best for your business.
My brand purpose is to help more women run profitable businesses by successfully navigating the funding world.
My brand promise is to deliver knowledge about the different kinds of funding available for your business. (This can be reworded to become your company’s mission statement.)
My brand values include supporting a world in which women and men have equal access to funding opportunities. (This can be reworded to present your business vision.)
My brand principles include teaching women business owners how to find funding opportunities and empowering them to do so.
Want to learn more about purpose-driven branding? Read our blog “How to Transform Your Purpose Into a Remarkable Brand Identity.”