Brand purpose is often misconceived, viewed as an emotional mission that enhances brand relevance. This misconception is likened to the term 'woke' and can undermine effective marketing strategies. Research shows that campaigns defined solely by purpose can result in significantly lower business effects, as demonstrated with IPA data revealing a 32% decrease in gains for such campaigns. However, when executed correctly, purpose-driven strategies have the potential to increase business effects by 32%. The approach to brand purpose should be individualized and meaningful rather than a one-size-fits-all solution.
Brand purpose has become the villain of marketing strategy. People have it confused and, quite like the word 'woke,' it has been used to bamboozle marketers into shutting down decent campaigns.
The issue is our definition of purpose. Well-meaning marketers have been sloppy in enforcing top-down strategies of purpose on a house of brands after seeing pockets of purpose success.
Peter Field dramatically demonstrated that the average campaign with a purpose strategy produced 32% fewer very large business effects, showing the flawed assumption about purpose and effectiveness.
Purpose isn't one thing: it's a strategy each brand approaches differently. Giving a brand a purpose is a powerful thing, but it needs to be meaningful and well-defined.
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