5 ways to navigate your brand successfully in the purpose economy

Brands living an authentic purpose and making a positive difference in the community always stand out and create value.

Brands living an authentic purpose and making a positive difference in the community always stand out and create value. A purpose driven brand is one that is motivated by driving positive change to make the world a better place. It’s a brand that has a larger mission to create value beyond the bottom line and it is this mission which resonates with its customer base, creating loyalty, maximizing employee productivity and generating greater sales.

A brand with a strong purpose not only helps to create a more equal society but also helps customers identify and connect with the causes they feel strongly about. When customers engage and monetarily support these organizations they feel like they are a part of something bigger than themselves. Customers then become agents in creating a new world, one which is more equal, more sustainable and renewed hope. The brands are committed to a larger mission and customer purchases helps support that mission thereby creating a long-time association, ensuring customer loyalty and strong brand affinity. When a customer feels connected to brand’s purpose, they are most likely to vouch for the brand to others and become ambassadors for it.

Brands with Purpose Lead

A brand’s Purpose doesn’t have to come at the cost of profit. On the contrary, studies indicate that purpose driven brands outperform their competitors on multiple levels.

1. Investments into brands with purpose are 400% more profitable than investments into the S&P 500.
2. New Accenture Strategy research finds that customers are making carefully considered choices to buy from companies that stand for a purpose they personally identify with that reflects their values and beliefs. 
3. Research from Porter Novelli found that 79% of people believe companies should work to address social justice issues, 78% of consumers would tell others to buy products from a purpose-driven company, and 66% would switch from a product they typically buy to a new product from a purpose-driven company

5 ways Sociocharge helps brand activate brand purpose & navigate successfully in the purpose economy

Sociocharge Network juxtaposes brand purpose with brand success. SAAS based Sociocharge brand solutions help organizations broadcast & activate their purpose. It is an integrated approach for brands to navigate their businesses successfully in the Purpose Economy. These solutions help brands accelerate innovation, find potential employees in an efficient way, lead bold initiatives, build collaborations with other businesses & build transformative relationship with the customers to advance the brand purpose.

1. Rapid Innovation: Big and small organizations can tap the idealism & energy of our young workforce to solve some of their pressing business-social challenges & advance the brand purpose. This is a powerful way of leveraging the entrepreneurial youth energy in the network and brand's can access this through a SAAS solutions.
2. Find potential employees who share brand purpose: Identifying the right talent who share brand purpose is the toughest challenge for any brand as employees are the first ambassador of brand purpose. When brands engage with the community on solving the challenges to advance the brand purpose they also get an opportunity to identify & pick the right talent who are skilled and exceedingly passionate about what your brand stands for!
3. Take bold initiatives: Businesses have tremendous potentialities to effect positive change in the community without compromising on profit. New age generations expect businesses to take bolder initiatives that are good for community. With Sociocharge Brand solutions brands have opportunities to identify initiatives that are meaningfully relevant to the community & lead those initiatives by enabling the active participation from all the stakeholders.
4. Collaborate: Connect with other businesses, investors & social organisations that have similar values. Build your network, collaborate on shared initiatives and navigate confidently in the purpose economy. Compete to do good by collaborating with, even the competitors, on larger purpose. Real competition in the purpose economy is the competition to do good.
5. Build transformative relationship with customers: Transform customer relationships beyond the surface level transactional relationship. Lead by example and show potential customers how your company is making a positive difference in the world. Once you join the network, your brand will be the story of a larger good than merely a one-time transaction. This will help set up a chain reaction of brand advocacy, convey unique value to other businesses associating with your brand.

Creating & promoting a societal impact of your brand has never been this easy. Join Sociocharge to make it visible, tangible & sustainable. Collaborate with other brands, social organizations and leverage shared initiatives. We want you to have customers who not only love your brand but share recommendations for it!

 LEAD ON PURPOSE AND LET THE CUSTOMERS & THE COMMUNITY FIND YOUR BRAND MEANINGFUL!

Join  Sociocharge today & become a player in the Purpose Economy