Action speaks louder than words
The COVID-19 epidemic has put a screeching halt to the world economy. Every business in every industry has felt its impact to different degrees.
We all react to uncertainty and challenging situations differently. But while all of this lingers, every business has to find a way to navigate through without compromising on standards. Integrity and values have become a selling point so it’s important to continue to cultivate them and let your audience know.
Actions speak louder than words. If your brand says it operates with a value-based code of ethics, then it has to show it. Walking the walk is a fantastic marketing angle that creates an opportunity to connect with potential customers. It’s also a good way to build brand reputation since, nowadays, consumers have learnt to use social media and other media channels to call out brands that fail to match their actions to their words.
For example, a good number of brands identifying with the LGBTQ+ community were in the spotlight recently for cashing in on the ‘pink dollar’ during pride month in the states without affecting any reach change within their organisations- a sentiment we see echoed here during Mardi Gras season.
There are also other brands that are claiming to strive for equality but are doing the bare minimum to achieve that goal, thus painting a false picture of what they truly stand for. The issue with this approach is that people want to engage with transparent brands and avoid the feeling of betrayal and disappointment when it turns out that a brand didn’t live up to its claims.
This safeguarding of your reputation is even more important for NFP brands because, to a large extent, the people who share their goodwill with them do so based on trust. Transparency and integrity are key factors that inspire people’s confidence, trust, and willingness to identify with your Not-For-Profit organisation.
How to use Purpose to navigate Uncertainty
For B2B, having a purpose can also bring similar benefits, as purpose always gives people and organisations a clear sense of direction. But, more importantly, it can guide them through the unprecedented times they currently exist in.
The Global Marketing Trends of 2021 report said it well: “purpose-driven companies inherently understand why they exist and who they are best built to serve regardless of what they sell today.”
If you’re wondering how to use purpose to drive growth in your B2B marketing, the first step is to consider owning brand purpose. Unfortunately, as obvious as it might seem, many brands lack a strong sense of purpose.
The ability to combine a strong “why” and a definite brand purpose is the driving force behind every successful product and service. It unlocks creativity among teams, inspires employees to do more, and helps to build an emotional connection with consumers. Not only this, integrating purpose into your business operations from the ground up will undoubtedly give you a competitive edge and help you stay afloat during turbulent periods.
When purpose is embedded across an entire enterprise, marketers can fuse it with brand and bring it to the forefront of the marketing to create a large-scale impact.
Consumers are becoming more and more critical of brands they engage with. As a result, ethical and sustainable production are under more scrutiny and are more valued than ever before. Therefore, brands need to develop the habit of letting their positive actions speak for them even when the going is tough.
The COVID-19 pandemic has shown us that brands (including NFPs and B2B) with a strong “why” or purpose that serves their stakeholders with transparency and accountability are uniquely positioned to navigate uncertainties with much fewer hassles.
If you haven’t yet found and defined your purpose, it’s time to find it and start living by it.