As businesses, and people, become more global and more globally connected, issues around awareness are on the rise. Consumers no longer simply want products and services; they now want to know about the businesses that produce and provide them.
Forbes magazine noted back in 2018 that consumers want businesses to help them make a difference.
They want to get involved socially and often even sociopolitically, and they want you to help them. You can do this best by mining through your brand story and discovering what your purpose statement is.
What Is a Purpose Statement?
A purpose statement is a short, simple, to the point message that tells your clientele what you do and why.
Obviously, this statement must be far beyond concepts of profit. In a capitalist society, everyone understands that businesses need to make money.
What they want to know is why you chose this specific business, how this business serves its clients, and even, possibly, how it is good for the world.
How a Purpose Statement Impacts Your Business
A great purpose statement engages your audience; it relates to their needs or their conscience; it tells your clientele that you they can feel good about working with you, about handing over their hard earned money.
It tells them you share values.
Purpose Statement Vs. Other Types of Statements
But a purpose statement is not a value proposition or a value statement, which make up elements of your brand story, and may help you get to your purpose statement, but are not in fact your purpose statement.
Neither is your purpose statement a mission statement, which can be much lengthier and in depth, getting into details that include background information on the company and driving motivations.
A purpose statement should also not be confused with a positioning statement, which is an internal message for your staff that keeps them on brand and on mission, literally letting them know how your company is positioned in your industry and among the competition.
How Your Brand Story Connects to Your Purpose Statement
Finally, a purpose statement is not a brand story, but rather a product of the brand story.
As we work through the 10 essential ingredients to crafting your inspiring purpose statement, you will notice that many of those ingredients will come directly from your brand story, which is the entire story that shapes your company. Your brand story will include your narrative or background that led to your mission to start your company, your vision for how you want your company to serve its community, and your values both as an employer and as a provider of products and services.
You can get a great brand story from a brand therapy session with a brand therapist in marketing.
How to Use Your Purpose Statement
Once you have your purpose statement in hand, you can use it to promote your business, create logos, create social media content, and craft your entire website around it so that you can not only reach your target audience but engage them instantly with just one sentence.
The possibilities are endless.
10 Essential Ingredients to Crafting Your Inspiring Purpose Statement
Know Your Why
This questions seems easy at first glance, but one you start digging, it can get complicated. It is helpful to sit with someone else, either a brand therapist or a partner in your company, and work through why you got into this business in the first place. Why is your business even here?
Know What Makes You Special
A purpose statement will tell your clients what makes you special, what makes you stand out, what makes you unique among dozens of other companies seemingly just like you.
Know Your Audience
In order to tell them how you stand out, you have to know who “they” are. You cannot serve the whole world. Some clients simply will not be interested. So, who are your clients? Sit down and create a persona, an avatar, of exactly what your ideal client looks like, acts like, sounds like, wants, needs, longs for. Then, you can speak directly to them better.
Remember that you want to inspire your clients to be better, do better, aim higher. See that Forbes article above? It’s what they want from you.
Aspire with Precision
So yes, you want to aim high, and you want to aim big, but you also want to be precise about what it is you are actually aiming for.
For example, you don’t just want to “help people.” You want to “help single mothers thrive in business.” Something like that.
Keep It Pithy
Again, this is not your mission statement or your brand story. Keep it short. That makes it more engaging and more memorable.
Offer both Cause and Effect
Don’t just tell your clients what your business does; tell them also what the outcome of that action is. Offer them your role and the expected end result, which you will deliver on.
Aim to Resolve Unresolved Tensions
Show that your company understands there is a need for your product or service, that there is some unresolved tension, like hungry children, energy shortages, destroyed resources, space for minorities in business, and so on. Then show them you want to help resolve that specific tension.
Allow It to Evolve
Remember that your purpose statement can shift and change with the times. It is expected to evolve as societal needs evolve. Making slight adjustments to your purpose statement shows your audience that you have your finger on the pulse of your community and its needs.
Form a Committee
Finally, no man, or woman, is an island. Do not try to figure all of this out on your own. Form a committee within your company, hire a brand therapist or a marketing team, even just sit and spitball ideas with your spouse or best friend.
Share ideas and remain open to allowing your purpose statement to take its best possible shape.
Contact Vanquish Media Group Today
For help crafting your purpose statement, your brand story, or any other aspect of marketing and branding, contact Vanquish Media Group Today.
We are here to help you unlock brand purpose, profit, and peace of mind.