Purpose-led marketing continues to grow each year and by now, any brand of a significant size would be errant in not acknowledging the importance of this.
The explosion of social media over the past decade means that today’s 20-something consumer has grown up in a digital world with the understanding of the power each of them has, individually and collectively, to voice their opinion online on a plethora of platforms.
However, it must be said, that purpose-led marketing is less about ‘marketing’ and more about ‘purpose-led’ business practices so brands and businesses should also understand that the ‘smoke and mirrors’ approach will not cut the mustard in 2023 and beyond.
Purpose-led Marketing Trends
Our team got together and came up with these 10 purpose-led marketing trends for 2023…
1. Increased focus on social and environmental impact
Companies are expected to focus more on their social and environmental impact and communicate their efforts to stakeholders.
2. Authenticity and transparency
Consumers are becoming more discerning and are demanding greater authenticity and transparency from companies.
3. Partnerships and collaborations
Purpose-led marketing is becoming more collaborative, with companies partnering with other organisations and causes to drive impact.
4. Consumer engagement and activism
Consumers are becoming increasingly active and engaged, and companies need to respond by taking actions that align with their values.
5. Data and technology
Companies are using data and technology to better understand and communicate their impact, and to measure and report on their efforts.
6. Employee engagement and activism
Employees are becoming more active and vocal in advocating for causes and companies need to respond by aligning their values and operations with those of their employees.
7. Sustainability and circular economy
Companies are focusing on sustainability and the circular economy, and are developing products and services that minimize waste and conserve resources.
8. Mental health and well-being
Companies are focusing on promoting mental health and well-being, and are providing resources and support to help employees and customers.
9. Personalisation and customisation
Companies are focusing on personalization and customization, and are developing products and services that are tailored to individual needs and preferences.
10. Virtual and augmented reality
Companies are using virtual and augmented reality to create immersive experiences that connect people with causes and mobilize support.
Conclusion
The trend in purpose-led marketing is towards increased focus on social and environmental impact, authenticity and transparency, partnerships and collaborations, consumer engagement and activism, and the use of data and technology.
Companies that prioritise these trends will be better positioned to engage with their customers and drive impact for their cause.
MUST READS
- A Purpose-Led Business model goes beyond the customer
- Social Impact: Why Brands should be moving from ‘for profit’ to ‘for benefit’ model
- What are socially conscious brands?
- A Socially Conscious Brand business model is the future
WE WOULD LOVE TO HEAR FROM YOU.
CONNECT WITH BIGGER THAN ME
FACEBOOKÂ |Â TWITTERÂ |Â INSTAGRAM