The Power of Purpose
May 17, 2023
June 3, 2021
"Its not wether you get knocked down"
If you could be anyone you wanted to be, who would you be? How exciting is it to think that you could start a new chapter in your life in a whole new world? Without the limitations of the physical world and human constructs that have been created around you?
Well that’s where the Metaverse comes in. There are whole new worlds being created out there that will remove the physical limitations of life and allow you to chase your dreams and be who you want to be.
Sounds pretty exciting right? Let’s dig in a little more to understand what this might look like.
SO, WHAT IS THE METAVERSE?
Simply put, the Metaverse is the convergence of all the digital things you do online into one virtual experience.
In a sense, it already exists. We sit on Zoom calls, research on the web, talk on social media, buy things on Amazon, watch streaming events and online video, and play games. The Metaverse is already here.
But think of tying all of it together and removing some of the limitations that still exist in your physical life when you access the web.
But how is this all of the sudden now possible?
ELEVATE WHAT’S POSSIBLE
Elevate what’s possible. These three words have carried a lot of weight over the past forty-three years, serving as the north star of our culture, attitude, and work. In the simplest of definitions, it means creating work that’s more than just work. We don’t just do advertising, we don’t just do design, and we don’t just build websites or apps. Our purpose is to solve real-world business problems that positively impact and add lasting value to people’s lives.
We believe that when brands act with intention, they can transcend what they make or do and stand for something greater in the world. That’s why when it comes to our clients, we choose to align with brands and businesses that take purpose just as seriously as we do. Our role in the relationship is to help our partners activate their purpose in culture in the most authentic way possible; that is, help them express their reason of being and what they stand for in the world.
This past year has solidified the need for purpose and our quest to elevate what's possible by evolving the marketing solutions we offer to help our clients elevate what's possible for the consumers and communities they serve.
OUR PURPOSE AT WORK
Take the University of Colorado Anschutz Medical Campus, whose purpose is to tackle the world’s biggest problems in health and medicine. While the Anschutz Medical Campus is the center of medicine’s most innovative work, there’s a good chance you haven’t heard of this magnificent place unless you’re a Colorado resident. We helped educate the masses on their breakthrough work by developing and launching the campus’s first-ever national ad campaign entitled “This Is Breakthrough.” This campaign highlighted the life-changing treatments that are transforming health care and the visionaries behind them.
“This Is Breakthrough” proved successful, generating over 300 million impressions, 14 million completed video views, and more than 200,000 landing page sessions. But the campaign's results are by no means an accident. When executed well, purpose marketing is good for business.
DOING GOOD IS GOOD FOR BUSINESS
The relationship that consumers have with brands is shifting. As people place more value on the causes they support, they will support brands that align with their values. This relationship means that brands are expected to use commerce to positively impact a social good that’s authentic and relevant to the brand.
Purpose matters because it shows customers that a brand is more than just their products, services, or campaigns; it reveals they care about something more significant than dollar signs.
According to a study by Deloitte Insights, consumers primarily make purchasing decisions based on how brands treat their people, how they treat the environment, and how they support the communities in which they operate . Purpose-driven brands experience higher market share gains and even grow on average three times quicker than their competitors , all while achieving higher employee and customer satisfaction levels.
In another study by communication firm Porter Novelli, researchers gave participants a series of purpose-driven attributes then asked what actions they’d take if a company had those qualities .
- Over 75% said they were more likely to trust the company.
- 78% were more likely to remember a company with a strong purpose.
- 78% were more likely to work for the company.
- 72% were more likely to be loyal to the company.
- 72% said they’d be more likely to forgive the company if they made a mistake.
- ⅔ said they’d consider the company’s purpose when deciding what to buy.
- 62% said it’s important to consider purpose even for impulse purchases.
Purpose drives purchasing decisions. Think about it. If you had to pick between two types of toothpaste in the store and one had a label that read “10% of proceeds go toward funding cleft palate surgeries because everyone deserves a smile they love”, which toothpaste would you choose?
PURPOSE ISN’T GOING ANYWHERE
It’s no longer enough to make a product or provide a service. Acting on a greater purpose is the norm, and brands that struggle to adapt in a purpose-driven world will fall behind.
As we’re recovering from COVID, instead of asking “what can we make?” brands and businesses must ask, “what can we do — for our customers and communities?" We must ask ourselves as marketing professionals, “how can we provide the best value?” and “how can we elevate what’s possible?”