Consumers have more buying options than ever before. Companies saturate the marketplace with similar items, and advertisers are always looking for ways to show why their product is extra special and should be purchased.
Other companies are focusing on a different strategy: Purpose Marketing.
The idea of tapping into the socially conscious shopper is becoming more and more prevalent in ad campaigns. Consumers are looking for an emotional connection to brands, and brands hope consumers will be more loyal if they feel this connection.
This marketing strategy focuses on the beliefs, behaviors and values of the company selling the products versus a description or benefit explanation of the products themselves. However, purpose marketing involves more than the idea of making a financial contribution to a charity, environmentally friendly packaging or even the execution of cleaner labels. It’s an opportunity to associate a brand in comsumers’ minds with a belief or social movement.
An example of this comes from Panera Bread. They are currently producing an ad campaign centered around, “Live consciously. Eat deliciously.” They’re producing a multi-channel campaign to convey this message and position themselves as a brand that not only sells sandwiches and soups, but is also a community figure through their involvement with food banks and their Panera Bread Foundation.
This type of positioning in the marketplace can be an opportunity to forge a more emotional connection with consumers and drive brand loyalty. It allows them to stand out from every other sandwich, soup and pastry shop in their markets.
As consumers have so many choices, there is an opportunity to tap into their emotional state and potentially make them longtime, loyal customers. Not only is purpose marketing a way to stand out, but it is also a way to show social responsibility and take the focus off the drive to make the most profit. The opportunity is out there to be a company that is associated with offering some social good and not just another company offering a good product in a marketplace with a lot of good, competitive products.