Does Purpose matter?

While he often downplays or shreds the power of purpose, we agree that a superficial approach won’t cut it. Purpose must be meaningful, authentic, actionable, and woven into every fibre of a business.

We still believe purpose answers the all-important ‘why’ of a company’s existence, guiding it to positively (and uniquely) impact people or planet, beyond a sole focus on profit. Purpose also attracts and retains talent, even turning potential leavers into passionate supporters of a cause that adds more meaning and motivation to selling products.

But let’s be clear: purpose only works if it’s ‘hard-baked’ into company decision-making, processes and culture. While purpose drives and guides a company to be a better corporate citizen, it won’t work if it’s fake (looking at you, Pepsi’s Kendall Jenner ad.)

Great examples of purpose-driven consumer brands include Patagonia, Karma Drinks and Tony’s Chocolonely. They’ve kick-started movements and built loyal communities, turning customers into vocal advocates – actively participating in, and supporting the brand. Purpose should be the heartbeat of a brand, not a marketing ploy. Brands sporting the Pride flag are at least helping the community be and feel ‘seen’. But done well, purpose should transcend symbolism, and become the core of what a brand stands for and how it operates.