In recent years, public expectations for businesses shifted to wanting companies to act more like real humans and less like faceless corporations. This shift has led to some brands, especially B2B brands, feeling disconnected with their customers.
Let’s discuss how a well-defined B2B brand purpose helps you win over your customers and create meaningful connections that last.
A 2020 study found that consumers are four times more likely to purchase from a brand with a strong purpose. Even B2B customers want to feel a human connection with their business partners.
By the end of this article, we hope you have a good understanding of how you can instill a strong sense of purpose into your B2B brand and use that to win the hearts and minds of your customers.
- Creating a mission statement or “stated purpose” is one of the first steps towards becoming more purpose-driven.
- Brands with a well-defined purpose can be appealing to business consumers who want to form stable, long-lasting partnerships.
- Creating a new brand purpose requires a cultural shift within your company.
What Is Brand Purpose?
For a business, purpose is generally defined as a company’s reason for existing beyond earning profits. That purpose is meant to guide its business decision and impact on society.
Many brands choose a mission statement or “stated purpose” that helps guide their transformation. For example, consulting agency Deloitte has chosen “making an impact that matters.” These types of statements or mottos give customers a better idea of what drives you.
This video further emphasizes what a purpose brand is and how it differs from other types of brands.
Why a B2B Brand Purpose Matters
Increasingly, customers of all types are concerned about what a business does to make a difference in its community and for its customers. The Strength of Purpose study shows that most consumers believe a business’s purpose is important. However, only 37% of consumers feel businesses have a defined purpose.
When businesses make a purchasing decision, they need to know that the company they are purchasing from is going to be there to support them in the future. Switching from one brand to another is usually more difficult for a company. This is one of the main reasons why you— as a B2B brand— need to have a fully defined and stated purpose and mission.
With a stated purpose, your customers learn about what is important to your business. Beyond the stated purpose, your business also needs an “activated purpose.” This is the full implementation of your stated purpose. Your purpose should be fully embraced and embedded into every decision your company makes.
Companies with a clearly defined and activated purpose can experience a variety of positive outcomes. In the B2B Purpose Paradox study, surveyed businesses listed the benefits they experienced after focusing in on their purpose. The main benefits included protecting the company’s reputation and deepening customer relationships.
How to Be a Purpose-Driven B2B Brand
To truly be a purpose-driven brand, your “purpose” must come from an authentic place. It is not simply a statement that you print on your letterhead. When put it into action, your purpose should impact on every part of your business and the larger society.
1. Find Your Purpose through Business Objectives
To help you narrow down your purpose, think about the following questions:
- Why was your business started?
- What solutions do you offer your customers?
- What new products or services would you like to offer?
2. Uncover Hidden Insights
Understanding metrics is something you already do. You can find insights into your brand through data and other information you already have. Do some research into your own company, talk to your employees, and listen to what your customers say about you. You can even interview third parties to discover a core insight that is linked to your long-term business objectives.
3. Use Senior Leadership to Drive Purpose
Just like with other major business changes, senior leadership needs to drive the purposeful changes within your brand. When they set the standard, the rest of your company will have a better idea of what they need to do to activate their team purpose. Senior leadership needs to promote your business purpose as a deep cultural shift within your brand.
4. Turn Your Employees into Purpose Ambassadors
One of the most important tools of a purpose driven B2B organization is its employees. As your purpose begins to evolve, give your employees the power they need to become true ambassadors of your brand. Help them understand how your brand plans to engage with customers and society to fulfill your purpose.
5. Make Purpose Part of Your Culture
Changing your business mindset into a purpose-driven brand takes time and patience. To fully instill your new purpose into your business culture, you need to be strategic and consistent. Every employee in every department needs to understand your new policies and how your new purpose gives them more power and responsibilities.
6. Share Your Purpose with Suppliers
As your internal purpose begins to take shape, you can extend that purpose outward. Share your new purpose with your suppliers, vendors, and other partners. Look for ways that they can help you fulfill your purpose.
7. Create New Products and Services Inspired by Purpose
With a fresh mindset, you may realize you and your employees are brimming over with inspiration. This new frontier may lead to new products and services that solve more problems for your customers.
8. Measure Your Purpose Impact
One of the most satisfying things about giving your business a new purpose is seeing its results. Keep track of your employee metrics to see how purpose affects their behavior including retention and recruitment. You should also measure the impact on your customers and sales.
Fulfill Your Brand Purpose with Televerde
Working through the major cultural shift that comes with a new brand identity is going to have challenges. Televerde wants to work with you to help overcome those challenges and fulfill your new purpose.
With over 25 years of experience helping businesses combine technological innovations and human connections, we are ready to be your partner. As a global sales and marketing provider, Televerde can enhance your newfound purpose and helps you gain the loyalty and appreciation of new and existing customers.
Learn more about our purpose-driven model today and discover how we can help drive your transformation towards your new purpose.