If you were in the audience of the recent ANA meeting (Association of National Advertisers), you heard almost every speaker discuss their quest for brand purpose. That is, the important shift that brands are being valued on not just what they sell, but more on what they stand for. If you would have glanced over at my conference notes, you would have seen the following:
“Are we getting far too soft in a very hard world?”
Don’t get me wrong, I embrace the notion that brands want to have better souls planted in richer soil and that Coca-Cola still wants to teach the world to sing and that Tom’s shoes are now available in most any Whole Foods next to organic bananas. I just believe that the “give back” initiatives should be part of an overall business charter because it is the right thing to do – rather than pushed in the face of consumers as part of the marketing initiative because it is what we hear consumers want. It smells of being disingenuous and that would not be the right purpose at all.
More, as brands are all chasing similar soft ground, many are losing their hard edges of differentiation on what makes one brand truly more special from another. Do guys really want Old Spice to help them navigate the seas of manhood or to help them not stink? (or so they can smell like the man their woman wishes he smelled like?) Do women like that Bounty picks up the pieces of broken families more than they care about it’s ability to pick up spills quicker than other towels? I think not. Personally, I like that Tide washes Loads of Hope, but I hope more it’s able to wash loads of my dirty socks.
A brand’s real purpose is to make money and grow share. There are too many brands so wrapped up in worrying about their social equity that they have lost focus on their financial equity. That is misappropriated business energy. If they build successful brands, they will have enough money to do so many wonderful things as a company. I see my job as helping a company drive revenue growth. What they do with that money is their good fortune and a great problem to have.
Hanging boldly on the wall of my office is not a picture of the Cannes shoreline. Instead, there are just three short sentences:
“Do good work. Earn fair money. Do amazing things with the money you earn.”
That is purpose enough for me.
I agree, Michael. I’m much more likely to be a raving fan and loyal consumer if the product actually works and works well, than if its packaging is sporting a pink ribbon like every other package in the store during the month of October, for example. (I’m a breast cancer survivor and do appreciate donations to research, but kitty litter for the cure…really?) I’d much rather support a company that puts out great products I like and then consistently gives back in their own quiet way. (Newman’s Own come to mind).
Pam – I agree fully. Actually, Newman’s Own is a perfect example. Buy it because it is great dressing. Love it more because they have a soul.
as someone who would notice contradictions, being haunted by them —– I find this post to be contradictory……. “companies are focused too much on social equity, instead of growing share” but the should “increase profits so they can spend money on social equity” ?
Am I missing the main point or am I?
Love your site man keep up the good work