Not since the birth of our nation has there been a more exciting time to be in marketing. America has its roots in marketing. Thirteen brands, then called colonies, had their own cultures, values, strategies, logos (flags) and taglines (mottos).
Philosopher, statesman and arguably this nation’s first great account planner, Ben Franklin, brought all thirteen brands together at a conference in Philadelphia, which sported his pithy theme: "If we don't hang together, we will surely hang separately." This message roped them in rather quickly by offering this disparate group of brands something bigger than anyone of them - the purpose of "We The People."
Our purpose proved that some ideas are bigger than others and have the ability to galvanize and unify a fledgling nation, let alone brands. Purpose stands the test of time as well. Unlike positioning statements that come and go, purpose never changes. It is our North Star, our secular religion and a symbol of what we can be. “We the people” means as much today as it did way back then, just as Southwest will always stand for democratizing the skies.
Purpose is the new profit. This week the Association of National Advertisers returned to the roots of its own industry by reclaiming the power of purpose and all the profits that come with it. As Dell's former CMO put it, "Purpose isn't just good for the soul, it’s actually good for the bottom line."
In Firms of Endearment, Rajendra S. Sisodia, David B. Wolfe and Jagdish N. Sheth define Firms of Endearment as companies that “seek to maximize their value to society as a whole, not just to their shareholders.” These firms, which include such purpose-driven juggernauts as Google, Patagonia, Southwest and Whole Foods, returned 1025% over the last 10 years, compared to only 122% for the S&P and 316% from the companies profiled in Good to Great.
Purpose turns brands into stands. And what you stand for allows you to play in a larger space. Take Graco as an example. What Graco knew intuitively, but had not articulated since the founder’s passing, was that its most important role was caring for caregivers. Once the organization rallied around this sense of purpose, it grew from a $450M juvenile products company to a $1.3B baby and parenting essentials company.
Finally purpose allows us to work in the company of something greater. When John F. Kennedy asked a janitor at NASA what he did for a living, he replied, " I am helping to put a man on the moon by the end of this decade.”
As one of the leaders of the purpose movement who has worked on purpose for more than eighty Fortune 100 companies, I can attest to the power of purpose for people, products and profit. Purpose is back and promises to elevate the role of marketing from seller to servant, and in doing so will transform brands, companies and this planet.
BrightHouse is the original Ideation Corporation. We are a global consultancy of thinkers creating commercial success through social value. We're creating a world where new ideas reign, where corporate values mirror human values and where higher earnings link with higher purposes.
