Much like what a conductor is to an orchestra, a nest is to a bird and a foundation is to a house, a well-defined purpose is paramount to a brand. Having a clear purpose is the core of a brand’s identity and soul. It offers a base to develop and a mirror to reflect its presence in the world.
According to a Feefo report, 74% of UK consumers want to know a company’s ‘brand values’ before buying a product or service from them.
The report also found that:
- Shoppers pay more attention to how a brand behaves.
- Shoppers will simply walk away if they don’t like what they see.
- 74% aren’t as likely to buy from a company if they’re unhappy with its wording or actions on a political or social issue.
- 57% agree brands must be more environmentally and socially responsible.
Feefo’s Marketing Director, Keith Povey, says: “It’s been an incredibly volatile 12 months for businesses, which has seen a seismic shift in consumer behaviour, some aspects of which will have a long-lasting effect on how buyers think, act and spend. That said, our research shows that for those businesses that are agile and realign their marketing strategies, there are many opportunities to improve brand awareness, perception and loyalty. Those that respond and act with the medium to long term in mind will see greater returns over the next few years than those that see this period as nothing more than a dip, due to external circumstances.”
Brands Have the Power
Purpose-led brands have the power to build more robust relationships with their consumers, which leads to increased sales and more customer loyalty. Not only this, shoppers are fairly forgiving. So, the stronger the ties, the more resilient your brand will be in the event a customer is unhappy with you.
Vic Heyward, Brand Marketing and Communications Manager at Bright, says:
“Understanding what your brand truly stands for should be the motivation behind your core purpose, and brand values should authentically echo this. What’s the point in having a set of values you never live, or worse, never look at again?
“This newer focus on brand accountability for sustainable initiatives can feel daunting for some, especially if you’re not at the forefront of an environmental revolution. For brands like this, taking a step back to reflect on your brand purpose, code of ethics or CSR policy can be an enlightening experience and a way to further engage prospects and employees.”
Brits Are Loyal But Sensitive to a Brand’s Bad Practices
Given the rise of false news stories and unlawful behaviour by influencers and powerful people, it’s no surprise that consumers of today are cautious about marketing strategies.
The Feefo report divulged that:
- B2B brands are more trustworthy than other sectors.
- 78% believe more in socially responsible companies.
- 4% don’t believe companies that highlight socially responsible credentials.
In light of this, it’s important that brands concentrate on investing in purpose-led business tactics.
In these current times where digital is everything, shoppers appreciate real-time contact with the brand they buy from. Live chat and social media are integral to a brand’s communication and customer service.
In fact, more than 21% of consumers are drawn to companies if they offer customer service via their social media platforms. Since there’s hardly any cost involved in social media communication, it makes a lot of sense for businesses to jump on the digital bandwagon.
Fishtank Agency’s Managing Director, Damien Fisher, says:
“The digital experience is scrutinised more than ever before and, depending on the sector, various touchpoints require consideration.
“Graphic real estate and call-to-action touchpoints are crucial to the customer journey and ultimately deliver on results. The product is good and the price point is enticing — so what will get the consumer over the line?
“When selling online, everyone is time-sensitive and with cyber-crime at an all-time high, visible trust recognition indicators, such as Feefo, are key validators to consumer perception and loyalty. Having chatbots visible 24/7 to answer any consumer queries without moving from page to page, as well as trigger points, such as email/sales numbers, helps deliver buyer confidence as it suggests the online retailer is happy to take calls and values customer satisfaction.”
However, UK shoppers will be turned off a brand if it demonstrates bad practices. The report found that:
- 29% of consumers dislike brands that are slow to respond to inquiries.
- 29% are turned off by spam email marketing.
- 23% dislike annoying advertising.
Connecting with your target audience is the secret to unlocking your customers’ real needs. Customer experience platforms are brilliant for enhancing your engagement and communication with customers.
Given that 57% of UK consumers believe brands should be environmentally and socially responsible and 47% should continually respond to negative reviews, it’s clear that Brits have strong opinions on how brands should behave. Thus, purpose-led brands pave the way for the future.
Today’s consumers make decisions based on how companies treat people and the environment. If a brand harnesses the power and opportunity of positioning its purpose with societal good, they’re doing something right.