BRANDS ARE EXPLORING THE POSSIBILITY OF MAKING MONEY WITHOUT TRYING TO MAKE MONEY. READ THIS ARTICLE FOR CLARITY.
Brands are no longer seeking to just sell products; they also want to impact culture and frame perceptions. It has now become unavoidably obvious that consumers are no longer just buying products, they buy an experience, they buy a personality, they buy a brand.
Take a look at yourself, the phone you have in your hand, the designer shoe or shirt you are currently wearing didn’t jump into your possession just because it’s beautiful, or durable, or matches your body, or some other stuff consumers naturally look out for while making a purchase. It is largely in your possession because of the perception attached to it, because of the way it makes you feel.
This reason has caused brands to not only develop their products but invest in enhancing their own personality. For example, you don’t just buy a Patek Phillipe you own one. If for any reason you do not understand this paragraph, kindly read through all over again, by the third time I’m certain you’ll get it.
Truth is, brands don’t want to just sell to you, they want to be a part of your everyday life. There’s a plan, there’s a purpose, and that’s the future of marketing – Purpose Marketing.
Meaningful marketing or Purpose marketing revolves around a company's greater purpose beyond just selling their products and services. In a recent publication by Accenture it is stated that “customers aren’t just making decisions based on the stalwarts of product selection or price. They’re now assessing what a brand says. What it does. What it stands for.” They aren’t chasing quantity but quality. They are seeking authenticity and relevance. They want to feel as though they are a part of something bigger. They are driven to connect, to grow, to make a difference. They are buying on belief.