Studies show a connection between a strong purpose and strong business results.
Sports streaming platform DAZN – global broadcaster of UEFA Women’s Champions League – partnered with YouTube to offer live and free streaming of the event live with a long-term goal to promote women’s soccer. Similarly, Adidas joined soccer’s social impact movement Common Goal to support 140 high-impact soccer NGOs in 90 countries.
These partnerships have led to an increase in their brand name as well profit for both these companies. Studies show that having a purpose can help businesses enhance their profits.
Deloitte’s global marketing trends 2020 report found that purpose-driven companies see higher market share gains and grow on average three times faster than competitors. They also achieve higher employee and customer satisfaction. Common Goal’s CEO Jürgen Griesbeck said the purpose have to embedded in the brand’s DNA.
[6 minute read]