Why purpose-led marketing is a must for African brands
By our News Team | 2022
Do consumers care how a company behaves, if the product and price is right? Research shows they do favour brands with a social purpose.
Any marketer worth their salt knows that change is good and based on the permanent flux of human evolution. A seasoned marketer embraces this and the ethos that marketing is a service to others; not the opportunistic entity that it is sometimes portrayed to be.
Purpose-led marketing is, by definition, when a brand and its audience connect on a mutual cause that both believe in. In a perfect world, purpose-led marketing would be an extension of a purpose-driven business model.
The latter goes deeper than simply aligning with a cause, which in itself is a good thing. However, when the business model is built on a purpose, it makes people, their experiences and their well-being the primary aim of what the organisation does.
Why brands need to be more purpose-driven
The old adage of ‘do my customers actually care as long as my prices are competitive and my products or services provide the desired quality?’ is fast becoming redundant.
Several marketing surveys in recent years have revealed the ascent of purpose-led business and why consumers support certain brands. Business magazine Forbes published a comprehensive list of many of these surveys and the overarching message was clear: The purpose-led business model is on the rise and for good reason.
Photograph via Strategic Marketing for Africa magazine
Consumers are changing and so are their choices. Consider that Generation Y or Z consumers will likely be a large part of a company’s current customer base and most/all of its future customers.
Several recent studies also reveal that the aforementioned generations not only choose to support brands that align with their beliefs but, where possible, prefer to work for brands that do so!
To read more about how purpose-led marketing strategies are being implemented, go to page 39 of the latest digital edition of Strategic Marketing for Africa, the official publication of the African Marketing Confederation (AMC) here: https://africanmarketingconfederation.org/publications-2/