Companies can’t ignore the fact that prospects are giving preference to brands that embrace a purpose. When developed authentically, a purpose can help an organization do well while doing good.
But before we go rushing off to champion the latest cause du jour, let’s take a beat to make sure it really makes sense for our brand.
Aligning who we are with why we’re here
I was working with a financial services organization that spent a good amount of money supporting a cause that fed the hungry. It was all because there was somebody on the leadership team that had a personal connection with the charity. It was a worthwhile endeavor. But when the company tried to engage the public to help with the effort, it never quite took off.
Like I said, it was a good effort to support. But it failed to become a movement because there wasn’t a natural connection between a financial services company and the issue of hunger.
Does this mean the financial services firm shouldn’t support the cause that fights hunger? No. But it shouldn’t expect it to naturally gain momentum with the public. So what could it have done? Well, money can be a great source of stress and anxiety for everyone. It can affect everything from a person’s health to her or his relationships. The…
