Category: Articles

IN A BOTTOM-LINE DRIVEN WORLD, PURPOSE MAY SOUND LIKE A VAGUE AND POINTLESS CONCEPT ON WHICH TO FOCUS YOUR ENERGY.

Most organisations still believe that purpose and profit are mutually exclusive, but some of the world’s most remarkable businesses have been built with purposeful intent. Indeed, it is becoming increasingly clear that to be a leading brand today you need to be fully in touch with why you exist.

To truly understand your purpose businesses need to assess, align and activate.

ASSESS YOUR ENVIRONMENT

Your purpose needs to be relevant to your ecosystem, your customers and their communities. Ask:

• What are the most important needs, aspirations of my customers?
• What frustrations and setbacks do my customers struggle with?
• What communities do I impact with my business?
• What social issues negatively impact on my business?

ALIGN WITH YOUR ORGANISATIONAL TRUTH

However you choose to define your overarching purpose, it should be rooted in what you do best.

• Rediscover your history and heritage: Many businesses have lost touch with the reason why they started in the first place.
• Identify the core values, beliefs and passions of your people: Find out what really motivates them and makes them get up in the morning.
• Map your organisational strengths: Purpose will only have an impact if it leverages the strengths of the business.

ACTIVATE INTERNALLY

An accurately defined, relevant purpose can only drive change if it connects with your people.

• Inspire employees: Articulate the purpose in a rallying-call and knit it into all internal communication.
• Look for values fit when hiring: Change recruitment processes to prioritise value-alignment with your business purpose.
• Track and measure to embed purpose in the culture: Determine the right metrics to ensure you are behaving purposefully.

ACTIVATE EXTERNALLY

Communicating your purpose can be tricky – it runs the risk of sounding like ‘good washing’. The easiest way to avoid this is to do the well first, and then talk about it.

• Show your purpose: At the most impactful moments
• Prove you’re making progress: With tangible changes and communicate your successes
• Collaborate for higher impact: With other businesses, and with your customers and employees
• Think engagement, not advertising: Facilitate experiences and activities that educate your consumers.

Doing business ‘on purpose’ will enable you to deliver more value to your stakeholders, and will ultimately grow your bottom line.

IN AN AGE OF HIGH COMPETITIVE INTENSITY AND A TOUGH ECONOMIC CLIMATE, COMPANIES ARE STRUGGLING TO DRIVE BRAND DIFFERENTIATION AND ATTRACT TOP TALENT. AS A RESULT, IT IS CRITICAL TO EXPRESS WHO YOU ARE AS A COMPANY WITH A DISTINCTIVE SET OF VALUES.

Indeed, strong values provide a unique window into workplace cultures, they drive internal behaviours and they guide decision-making frameworks within businesses. In essence, values that truly mean something to employees will be profoundly felt by the customers and communities they serve.

Sadly, we regularly see outdated and clichéd company values such as ‘integrity, teamwork, quality, customer satisfaction, respect, excellence and innovation’ bandied about – without taking into account what they really mean to the business or staff. In a study of 150 multinational companies, 74% claimed integrity as a core value, 41% espoused concern for customers and 39%, respect. Yet employees, for the most part, just don’t know what to do with such generic brand values…

SO WHO IS GETTING IT, RIGHT?

Brands that have a strong, values-based approach to doing business drive individual accountability and engagement through their inspiring, high-performance workplace cultures. Uber, Google, Wholefoods and GE are standouts. Their organisational cultures are grounded in a set of core beliefs and commitments expressed through values that steer their respective business strategies and determine their ways of working. For them, it’s not about the writing on their office walls but about the people that are committed, live the brand and to do their part in achieving the business goals.

For example, one of Uber’s values is to encourage employees ‘to take big bold bets’ so that in the ever-changing world of tech, the business continuously moves forward. Uber has recognised that only by constantly seeking better ways of doing things, can it really guard against nimbler and more agile competitors seeking to up-end it.

WholeFoods, an organic food retailer, specifically states that they believe in ‘selling the highest quality natural and organic products available’ – which makes it very clear to employees how they should be sourcing, delivering and designing their products.

Similarly, Google doesn’t just claim ‘customer-centricity’ as a core value. Instead, employees adopt the mantra ‘focus on the user and everything else will follow’, which translates into meaningful products and services that truly serve the needs of their users.

SO, WHEN IS IT A GOOD TIME TO CONSIDER RELOOKING AND ADJUSTING YOUR COMPANY’S VALUES?

• When your company is going through massive organisational change and/or brand repositioning.
• When social and economic contexts change thereby changing your customers’ needs and expectations.
• When it’s clear your company’s current values hold little meaning for your employees.
• Lastly, when your ‘company values’ are different from your ‘brand values’ – these should be consistent.

HERE ARE SIX TIPS ON HOW TO CREATE DISTINCTIVE VALUES WITHIN YOUR BUSINESS:

1. Make sure your values are aligned with your purpose and positioning and bring these to life in tangible and practical ways.
2. Try ‘bottom-up’, not just ‘top-down’: through collaborative workshops, involve people from all levels of the organisation in the creation of values.
3. Select a core group of brand advocates to lead the change: 5-10 individuals (depending the on size of company) from anywhere in the organisation that best represents what the brand stands for, have a gut-level understanding of the culture of the organisation, and have the highest level of credibility with their peers.
4. Reinforcement is critical – repeat, reward and recognise.
5. Involve the people that interface with your customers on a daily basis.
6. Treat the process with respect and have patience.

SUCCEEDING AS A MARKETER IN AN OVERSTIMULATED, CHOICE-FLOODED, OMNICHANNEL WORLD IS NO SMALL TASK. WE HAVE TO REMIND OURSELVES TO STOP WHAT WE’RE DOING, TAKE A DEEP BREATH AND LOOK AT WHAT’S GOING ON OUTSIDE OUR OWN ENVIRONMENT.

Interestingly, we can take some important lessons from the analytical, numbers-driven world. More specifically, there are some clear equations involved in creating sustainable and valued relationships between brands and consumers. These could be very informative for savvy marketers.

1. BRAND VALUE: VALUE = BENEFIT / COST

Let’s not forget that value is how the consumer defines it. However, by understanding the equation of how value is created, you give consumers a reason for consideration. Consider how the equation is applied in the medical insurance industry, where customers are anxious about the cost of cover and frustrated with the complexity of policies. In order to derive value, customers want to feel they’re in control; they need to understand what they’re buying and at what cost. Therefore value = benefit of (control +simplicity) / cost of (premium + efforts).

2. TRUSTED BRAND STATUS: TRUST = FN (CONSISTENCY + HONESTY + QUALITY + EXPERIENCE)

Before the economic downturn, consumers were willing to gamble on new products and services. However, within the current economic climate, things have changed. According to the 2016 South African Customer Satisfaction Index (SAcsi) results, the top five positions are dominated by restaurant industry players. Customer Satisfaction is a measure of the brands that display the best overall quality, meet customer expectations and have the highest perceived value. Wimpy took the top spot and achieved a satisfaction score of 83,6 out of 100. How do they do it? They consistently deliver a quality product; you know what you’re getting as a consumer and the Wimpy experience is the same wherever you go.

3. CONSUMER CONNECTIONS: CONNECTIONS = (PLATFORM + EXPERIENCE + RELEVANCE) X (ADVOCATES + TIME)

Today, brands from all industries are facing one primary challenge: how to build a strong emotional connection with their consumers. Without that personal relationship, their names mean very little and business could suffer. A brand that is connecting strongly with consumers is Nike. They are masters at creating meaningful experiences by building platforms that open the door to relevant emotional connections and essentially help create brand advocates.

Ultimately, you don’t need to have a maths brain to know that consumer needs are constantly changing and that expectations of value are changing with them. If you have an understanding of the marketing equations involved in delivering on your brand objectives, you have the means by which to evaluate how you’re doing. The key to successful evaluation is to tailor the variables in your equations to your category, your consumers’ needs and to your brand objectives, which hopefully reflect the business strategic intent.

“TELL ME AND I’LL FORGET; SHOW ME AND I MAY REMEMBER; INVOLVE ME AND I’LL UNDERSTAND.” THIS ANCIENT CHINESE PROVERB MAY BE TRUE BUT IS ONLY USEFUL IN ITS APPLICATION.

Indeed, the advertising and communications industry has moved from limited duration “campaigns” to “always on” dialogues and experiences supported by omnichannel engagement.

Perhaps most importantly, consumers are running the show – and wielding the power. Using new technology tools and platforms, consumers can fast forward, switch off and turn the dial in search of brands that truly engage them.

WHAT DOES ALL THIS MEAN FOR BRANDS?

Emotion and speed are now key components in building engaging brands that add value to the lives of consumers. Brands need to change the speed, not only of how they engage and communicate but at which they gather insight about their market. It’s less about historical research and long, annual trackers and more about what millions of people are doing RIGHT NOW and what brands can do RIGHT NOW to connect with their market’s.

This approach marks a fundamental shift in the role and purpose of marketing – from the management of consumer perception to genuine consumer involvement. Today, if brand communication is not relevant, it will be lost or ignored. If it is not original, it will attract no attention.

“If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language, that goes to his heart.” – Nelson Mandela.

Brands will strengthen their connection with their consumers if they communicate in a language that resonates with their audiences

THE NEW RULES OF THE GAME:

First, listen, and then speak up… quickly!

Be useful and create value that demonstrates the role your brand plays in the world of the consumer.

Be a social brand, not a brand being social.

Irwin Corey, an actor and vaudeville comedian, once commented: “Marriage is like a bank account: you put in, you take out, you lose interest.”

In today’s tough environment, brands are arguably finding themselves in similar ‘love spats’ with consumers. Indeed, the economic downturn caused quite a few nasty brand break-ups, as well as some expedient hook-ups.

The pertinent question for every marketer in such confusing times, is: ‘What makes a brand marriage successful in the long term?’ Without a doubt, the ‘connection’ has to go far beyond a heady romance.

As marketers well know, the challenge with brand relationships is that you need two willing parties, not just a willing brand. That said, it is the brand’s role to woo consumers, convince them beyond question that they understand their needs, and then offer better value than the competition.

Take Uber, for example. The company has become hugely successful worldwide, simply by understanding the consumer pain point and then finding ways to consistently ease their pain, make life smoother and make the relationship feel worthwhile.

Arguably, the ultimate goal for brands looking to build relationships and form emotional connections is earning consumers’ trust and loyalty. For consumers, this usually comes from consistently feeling delighted – and excited – about using a brand. The challenge for brands, therefore, is to find ways to continuously delight their consumers.

At the end of the day, a brand is a long-term promise to the consumer. If you find that your consumers are getting cold feet, invest in the relationship! Maybe it’s time to dust off your promise, make sure it’s still relevant to what the market wants, and renew your commitment. A successful marriage means understanding your partner, listening to them, and finding ways to delight them.

Hopefully, you’ll hear those two words in return: “I do.”

IN AN ENVIRONMENT CHARACTERISED BY UNCERTAINTY, CONSUMERS CHOOSE TO DEAL WITH PEOPLE, BUSINESSES AND BRANDS THEY TRUST.

But if trust is the “lock & key”, then how does one generate and maintain that trust?

Author Stephen R. Covey emphasises that “trust is the glue of life. It’s the essential ingredient in effective communication. It’s the foundational principle that holds all relationships.”

In short, trust is the fundamental building block of a great relationship. If, as brand owners, we want to build strong and lasting bonds with our consumers, where should we start?

In our view, there are five main elements to building trust in a relationship:

1. GIVE THE PERSON REASON TO TRUST YOU.

Share the details of your day. Talk about your plans for the future. Always be open and honest about what you are doing, and when you are doing it./p>

In the same way, brands can’t just expect to be trusted. They must talk in the same language as their consumer and connect with them in a meaningful way. Trust is not just given – it must be earned through ongoing communication.

2. KNOW WHO YOU ARE AND MAKE SURE YOUR PARTNER KNOWS, TOO.

Don’t be afraid of who you are in your relationship. Until you are comfortable inside your skin, trust is always going to evade you.

For brands to be part of a conversation and to gain trust, they must know who they are, what they do and why it matters. When a brand’s identity and image is clear, simple and consistent, consumer trust will follow.

3. MEET ADVERSITY IN THE RELATIONSHIP HEAD-ON.

Leaving things unresolved chips away at trust because it slows the natural, positive momentum of a relationship. By showing that you are willing to bend and compromise, your partner will also make important shifts and adjustments.

The same applies to trust in a brand – by showing that you are willing to go the extra mile to be trusted, consumers will buy into this safe space.

4. BE OPEN AND BE TRUTHFUL – TALK TO EACH OTHER ABOUT EVERYTHING AND HAVE AUTHENTIC CONVERSATIONS.

It is never conducive when building trust to lie or be inauthentic – unless you are planning a surprise for your partner! You’ll likely get caught in the lie, and this will undermine the trust in all future interactions.

For a brand to be trusted, it needs to be open and truthful in all conversations with the consumer. It is now more important than ever to be transparent. A small lie will cause a breakdown in trust, which leads to a breakdown in the relationship.

5. ENSURE THAT YOUR ACTIONS ARE CONSISTENT WITH YOUR WORDS – BE RELIABLE!

When your partner can see that what you do and say line up, the trust in a relationship comes naturally. Follow through on your promises, big and small. Promised to walk the dog? Walk the dog, then.

It’s critical for a brand to deliver on every promise it makes. An obvious key to building consumer trust is keeping promises. This is nothing new, and it simply requires that a company delivers on what it says it will. One broken promise can take years to heal.