Values are the new currency. Purpose is the new paradigm”. – Carol Cone, Edelman.
For the last five years, the world’s largest PR firm, Edelman, has released a comprehensive study that explores consumer attitudes around social purpose and consumers’ expectations of brands and corporations. Edelman’s 2013 study is due out soon. Here is the 2012 study.
Their study shows that consumers now expect that organizations demonstrate a purpose that is greater than profits, that they genuinely care for employees and their customers, and give back to their community. Where, purpose once differentiated an organization and brand, it is now expected as an integral component of the organizations’s activities and strategy. Indeed purpose, as Carol Cone, Global Chair of Edelman’s Business & Social Purpose states, has become a “business imperative”.
Edelman’s recent Trust Report further indicates that an organization’s purpose visibly demonstrates their integrity that in turn drives a consumer’s trust of an organization.
What is your organization’s purpose? What do your customers care about? Answering these questions will form the foundation of your organization’s business strategy and lead to marketing that matters.