2020 has been a defining year and we’re all starting to see how good we really are at change.
Without the ‘north star’ of a clear brand purpose could the coronavirus crisis steer us off course, as we fumble around for the right reaction to the ever changing world around us?
At the moment business leaders need the strength to seemingly fight the impossible. But if you remember to hold onto your values, you could be amongst the 42% of purposeful companies that are currently outperforming the stock market. (EY Global Leadership Forecast)
Purpose-driven companies do better – especially in challenging times. They are more ambitious, attract talent, inspire innovation, make faster decisions, are more trusted, have increased loyalty and attract investment – yet 68% of business leaders do not use their purpose as a guidepost in leadership decision making.* (PWC)
Google Trends shows a steep incline in 2020 for people seeking brands that are ethical, sustainable and have policy and purpose at their core.
Interestingly, donating money is not what they necessarily consider purpose. They want to see business making a significant difference, behaving well within their own company and taking a stand in their communities.
Amidst the current chaos, really understanding how your customers are feeling and what really matters to them will help you shape how you communicate purposefully with them.
Use any available data to find out what they need from you as a business right now and where you can add value to their lives – they might be feeling scared and need reassurance, want to know you’re invested in making the world a better place or simply need to feel a better connection with your people – who are of course, your brand.
This is not touchy-feely stuff – it’s hard fact.
Purposeful companies deal with volatility much better.
Remembering why you started is everything right now.
Less is more.
Don’t blow with the wind – have patience with your purpose.
Go back to basics and involve your team.
Reset, recharge and let’s go again – with purpose – into 2021.