Purpose-led brands need a metric to be able to tie efforts to returns

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 09, 2019, 7:00 AM UTC

Overall, getting the purpose-positioning right is important.

The recent past has highlighted a shift from a company’s ability to be altruistic to the need for businesses to do good to answer a critical need of the planet. This brings forward the concept of brands doing good or being purpose-led.

But for more and more companies to be purpose-led, they need to be able to prove that doing good can lead to better returns. The author shares an overview of what a metric that measures purpose could look like.

Such a metric would be a “purpose equivalent” of a Net Promoter Score (NPS) and would ideally correlate purpose measure with NPS. Businesses would also need to get their purpose-based positioning right and be able to measure purpose against their key competitors.

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[5 minute read]