Often, business can get a bad name, and in today’s climate, people are trusting businesses less and less, which is why it’s so important to ensure that you’re doing business on purpose to improve your reputation and grow your business.
At Kinetic, we believe that every decent business deserves to be trusted, and if you’re a decent business – that means treating your employees right, engaging in sustainability practices and considering the community – you deserve for people to recognise that.
Doing business on purpose
Being a decent business alone often isn’t enough, as Simon Sinek said: “people don’t buy what you do, they buy why you do it.”
‘Why’ equals purpose, and it’s more important than ever for companies to grow. Recent research found that when comparing purpose-driven companies and non-purpose-driven companies, the ones with a well-articulated purpose grew 10% more quickly.
Following the pandemic, purpose has become more important than ever, and global studies have found that customers are up to six times more likely to purchase, protect and advocate for purpose-driven customers. In PR, our goal is to turn your prospects into advocates, and that’s why communicating your purpose is key to building your reputation and growing your business.
Finding your purpose
Knowing exactly what your ‘why’ in business isn’t easy, but you can start by asking yourself some simple questions:
What’s interesting about how you went into business? How has your business evolved? What problem are you looking to solve?
What do you do differently to your competitors? Why should your customers come to you?
Who is your business aimed at? Who’s your perfect customer? How would you describe your customers?
When you’re answering these questions, don’t think you have to do it alone because you’re the owner of the business. Ask your employees what they think of your business and what your purpose might be. Often, as they’re at the heart of the business and face customers every day, they can offer a point of view you might not have.
Don’t be afraid to ask for criticism at this stage – your purpose will need to be watertight, sustainable and unique. It should be the reason that people want to choose you over your competitor, while pulling on their emotions.
Communicating your purpose
Once you understand your purpose, the next step is to communicate this effectively with your prospects, clients and employees. To ensure your purpose has the desired effect, you’ll need clear and consistent messaging across your owned earned and paid media.
No matter whether you’re writing content for your website, social media posts, editorial or advertising, your purpose should be a part of it. Gone are the days when companies could tell customers one thing and investors another – it’s important for companies to communicate their purpose through their messaging consistently.
If you’re still not sure about your purpose or how to communicate it effectively, get in touch and we can help.