Interested in ideas about Brand Purpose/Ideals and Promise that can sharpen your Brand positioning and improve your profitability by 400%? I hope this will clarify how Brand Purpose/Ideals and Brand Promise are different and similar, and inspire you to pursue a Purpose Driven path for greater growth.
Why a Brand exists besides earning money. The difference a Brand aspires to make in the world. Speaks broadly to Brand stakeholders including company employees (NASA Janitor: “My job is to enable a man to go to the moon”). Examples:
- Redbull exists to Energize the World
- Southwest exists to Give People Freedom to Fly
- Disney exists to Use Imagination to Bring Magic to Millions
Merits of Purpose Driven Brands have been highlighted by Sisodia (“Firms of Endearment”), Sinek (“Start With Why”), Spence (“It’s Not What You Sell, It’s What you Stand For”) and Kantar (“SuperCorp”). In his new book, “GROW – How Ideals Power Growth at the World’s Greatest Companies”, former P&G CMO Stengel shows that Ideals Driven Brands deliver 400% more profit than S&P 500.
Tells consumers how Brand will make their life better. Typically a central element in Brand positioning (aka: Key Benefit, Point-of-Difference).
- Ritz promises to Treat Guests Like Royalty
- Disney promises Fun, Family, Magical Entertainment
- Google promises Easy Access To Information Everywhere
With the Brand Purpose/Ideal movement gaining steam, should Brands articulate a Purpose, a Promise, or both? For sure, Brand Leaders should be able to answer both the Purpose/Ideal and Promise questions (We exist to… We promise to…). In some cases, they are same. Is Pampers “Helping Mother’s Care for their Baby’s/Toddler’s Healthy, Happy Development” a Purpose or a Promise?
In other cases, it is helpful to have two statements (see Disney above). Ralph Lauren might find the following distinction helpful: We exist to help people experience an aspirational lifestyle of timeless luxury and elegance; We promise a feeling of Power and Success.
Is your Brand driven by a higher Ideal, in line with the +400%Stengel Brands? How does your Brand Ideal relate to your Promise?