While a brand goal is what a business anticipates accomplishing in a set period of time, usually a three-year cycle, your brand purpose is the reason you have formed your company and can be, as demonstrated above, explained in a single sentence.
If you tell your staff or customers that you want to achieve double digit growth and dominate your industry, it’s not going to encourage them, but is a classic ‘goal.’ Purpose is more of a long-term investment; it doesn’t necessarily provide you with quick wins but it helps to build brand loyalty and the emotional connection and trust with your customers. The disparity comes when you have to balance playing a long game when you have two/three-year business objectives.
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Inevitably, therefore, some businesses find it very hard to understand purpose, fail to see the value in it and are sceptical, particularly stakeholders who have it ingrained in them to make profit the priority. They might question that purpose doesn’t necessarily have an ROI against it and initially question why it is important.
But when you look at some of the world’s most powerful and successful brands, they have found that balance and as Steve Jobs once said, “If people have a greater sense of purpose, profit will follow.”