Global marketing leaders from corporations such as McDonald’s, Mastercard, Duolingo, Pinterest, and Molson Coors emphasize the critical role of brand purpose in creating meaningful connections with consumers. As Juan Lopez, CMO of McDonald’s, expresses, clarity about brand purpose can foster trust and loyalty among customers. Mastercard’s Emily Davis goes a step further, suggesting that brand purpose transcends product selling; it represents why a firm exists in the marketplace.
A well-defined brand purpose also impacts employee morale and behavior, as identified by leaders from Duolingo and Pinterest. It fuels innovation, dedication, and promotes a sense of pride among the workforce. Brands like Molson Coors have even elevated brand purpose by promoting responsible drinking, thereby linking it to the quality of their products.
In 2019, Unilever planned to evolve its 400 brands into “purposeful brands”. The catalysis was the growth in its ‘Sustainable Living Brands’, which accounted for 75% of the company’s growth. The bold strategy did face some criticism, mainly for focusing more on societal issues rather than delivering quality products. Critics proposed that this approach could potentially blur the brand identity and dampen sales.
The debate highlights the balance that brands need to strike between product quality, brand purpose, and societal relevance. Examples such McDonald’s and Duolingo show that a well-articulated brand purpose can influence societal trends positively. Lego and Nike have also demonstrated the impact of aligning their brand campaigns with their purpose.
A key finding from this study is that each successful brand has a unique brand purpose that aligns with its values and target audience. Understanding brand purpose is a complex task which requires a deep dive into various aspects of a brand, from its culture to its customer base. However, it’s clear that a compelling brand purpose serves as the backbone of a company’s long-term strategy and is directly linked to its success.
These insights from global marketers provide a blueprint for other brands to reshape their business identity, strengthen customer relationships, and ensure future success. This knowledge aids in the pursuit of operational excellence, fostering customer loyalty, and driving sustainable growth. As these examples illustrate, understanding and leveraging a clear brand purpose can secure a solid footing in the industry and cultivate a culture of continuous learning and improvement within the organization.
