Times have changed. Advertising can no longer be a one-way message. People aren’t as brand loyal, unless you connect with them on a deeper level. Yes, your price and quality are important. But these aren’t the only factors that matter.
Top 5 Reasons to Create Purposeful Relationships
1. A study from Fortune showed people like to do business with businesses that give back.
2. Want happy employees, brand ambassadors, and less turnover?
Giving back is associated with greater employee retention and higher levels of brand ambassadorship from workers. Staffers who believe their organizations give back to the community are a striking 13 times more likely to look forward to coming to work, compared to employees who do not perceive their employers to be generous toward the community. This is from a study of + >380,000 employees from several hundred companies. 3. Court millennials: It’s a myth that they don’t care and aren’t brand loyal.
According to a study by Magna, when people choose which products and services to buy, sure they think about price and quality, but being involved in culture (25% believe) is nearly as important as having positive brand perceptions (31%). 4. Long standing brands are in danger of losing relevance. Start-ups have an edge.
According to Forbes contributor, Brian Lischer, “Your brand becomes relevant and important once customers and the marketplace connect with your story -- and more importantly, feel excited about sharing.” 5. A meaningful connection is critical with women, Latinos and African Americans – how are you connecting about things that are important to them? If you do it just to buy favor and it doesn’t resonate with your business culture, it not only won’t work, it will backfire. Offer a great product or service, but make sure you establish and maintain a relationship with your core audience. Consumers want to see their beliefs mirrored in your organization. Interested in learning more about purpose-driven branding? Check out Jeanne Frazer’s article, 3 Questions to Ask to See if Your Company is Truly Purpose-Driven.