Let's talk meaningful marketing
Now more than ever, consumers are seeking out businesses that are showing up in more ways than just delivering a product or service. A focus on social responsibility is pushing businesses to give back to communities and be a force of positive change, opposed to simply chasing a profit. While showcasing social purpose can help attract and retain customers, developing core values and meaning within the formation of a business is crucial to its framework and on-going identity as it evolves and grows.
So what even are "Core Values"?
Core values are the deeply rooted principles that guide all of a company's actions, serving as the foundation of its culture and choices. When creating these core values, the most important factor is authenticity. Think about your mission and vision, what sets you apart from competitors, or key themes within your business - anything that feels genuine and true to what you do and hope to achieve. For example, Apple has seven core values: Accessibility, Education, Environment, Inclusion & Diversity, Privacy, Racial Equity and Justice, and Supply Chain Innovation. Another example is Dior, with three core values: Excellence, Creativity, and Heritage. These value sets clearly align with their respective brands, reflected through products, branding, communication, and overall culture of either business.
What core values can do for you!
Developing core values at the inception of a business is beneficial in multiple ways. These values help serve as the foundation for identity, guide decision making, shape company culture, direct business strategy, while also providing a clear sense of purpose for employees, stakeholders, and customers. These values also help inform marketing strategies that directly engage and resonate with consumers, with studies showing that a massive 77% of consumers prefer to buy from companies who share their values.
An example of a business built upon strong core values is Sans Beast, an Australian-founded accessory brand established by Cathryn Wills in May 2017. With nearly 30 years of experience in Australian fashion retail—including over a decade immersed in the world of leather handbags—Wills gradually became aware of a misalignment between her professional role and her ethical values regarding animal welfare and environmental sustainability. After a dedicated period of research and development, Sans Beast was officially launched in March 2018. The brand champions slow design and production, utilising recycled synthetic materials and bio-based or partially bio-based fabrics to eliminate animal exploitation. Their products are made for the curious and compassionate, those who strive for functionality, aesthetic, and who hope to reflect their own values in their purchases.
Purpose driven business
It's becoming increasingly clear that in order to stand out and gain success in the competitive landscape, businesses need to be making a positive impact alongside generating profit, otherwise known as purpose-driven businesses - those that prioritise social and environmental responsibility, accountability and transparency in every aspect of operations. According to the latest CommBank Consumer Insights Report, 53% of consumers are willing to pay more to buy from purpose-led businesses. Purpose driven businesses work from a place of deep alignment with their values and hold a commitment to creating meaningful value for all stakeholders. This doesn't only mean attracting and retaining customers, but also aids in benefiting employees within the organisation itself. According to research by Deloitte, purpose-driven companies are three times more likely to retain talent due to higher levels of employee engagement and job satisfaction.
Utilising purpose within marketing
To successfully leverage social purpose in marketing, brands need to prioritize authenticity and demonstrate a genuine commitment to the causes they support. Consumers today are more discerning than ever, and they can quickly tell when a brand is merely using a cause purely for their own benefit. Social purpose marketing should be embedded in the brand’s core ethos and integrated across every touchpoint—from product design to customer experience to corporate culture. A great example of this is American outdoor clothing and gear company, Patagonia - widely known for its commitment to environmental sustainability and social responsibility. Key initiatives from Patagonia include sustainably designed products, environmental activism, repair and reuse programs, and corporate transparency. The brand is not only highly regarded for the quality and durability of its products, but also for its long-standing commitment to making a positive impact on the planet.
As the world places greater emphasis on purpose and impact, mission-driven action is becoming a crucial strategy for businesses aiming to make a meaningful difference in both financial performance as well as society at large. Companies that prioritise purpose in their operations are better equipped to succeed, cultivate strong employee connections, promote a culture of ongoing improvement, and ultimately create a lasting legacy of positive change.