Purpose is everything
Data: 2020 m. kovo 17 d.
Purpose-driven companies witness higher market share gains and grow three times faster on average than their competitors, all while achieving higher workforce and customer satisfaction.
MUCH like what a foundation is to a house, a conductor is to an orchestra, and a canvas is to an artist’s masterpiece—a clear purpose is everything to an organization. It is an organization’s soul and identity, providing both a platform to build upon and a mirror to reflect its existence in the world. It articulates why an organization exists, what problems it is here to solve, and who it wants to be to each human it touches through its work. While it’s not the first time in history businesses are pondering why they exist and who they are to their customers,1 the current trend based on our research shows that businesses are using purpose to create deeper connections with consumers, do more for the communities with which they work, attract and retain talent, and in the process, are achieving greater results and impact.
Not every organization views purpose as an all-encompassing ideal. Some consider it merely a tool to advertise who they are and what they stand for to capture more market share. Others believe selling quality products at the lowest price point is the only thing that matters to consumers. While we acknowledge instances of successful companies in the market aligned with this thinking, our research shows that what separates purpose-driven businesses from the rest are longevity and authenticity. Companies that lead with purpose and build around it can achieve continued loyalty, consistency, and relevance in the lives of consumers. Those that fail to identify and articulate their purpose may survive in the short term, but over time, people are likely to demand more.
Purpose-driven companies witness higher market share gains and grow on average three times faster than their competitors, all the while achieving higher employee and customer satisfaction. Today’s consumers often identify with a brand’s purpose, seeking to connect at a deeper level even as the brand reciprocally aligns with who they are and who they want to be.
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