Purpose - The North Star for a Brand! Wesleyan Case Study

A powerful Brand Purpose sets out a company’s intent to change the world for the better and connects with consumers on a personal level, it is the brands reason to exist, it’s North Star.

The rise in conscientious consumers means that brands need to think about their social, environmental, ecological and political position not just it's brand promise (which gives the customer an indication of what to expect e.g. low priced groceries). The benefits of an authentic brand purpose are:

1. Brand purpose can be an important factor when choosing a product or service

2. A really powerful brand purpose will relate to the product or service

3. Modern consumers want brands to use their power and influence for good

4. 82% of UK consumers vote with their wallets, buying brands who ‘do the right thing’

Brand purpose is so important, but many people aren’t taking advantage of its benefits because they simply don’t understand what it’s all about. It’s super valuable to take the time to understand brand purpose and everything that it can do. Creating strong brand purpose gives authority and greater meaning as well as creating clear blue water with competitors. It also gives employees a strong reason to get out of bed in the morning as they know they are contributing to society.

Working with Wesleyan in Financial Services, we identified that their customers; doctors, dentists, teachers and lawyers were society's most trusted professions. Wesleyan's societal role was to help these customers secure their finances so that they could concentrate on their vital role in looking after us! This became Wesleyan's purpose, the north star for employees and the guide to developing the brand. We took this all the way through to creative concept and ultimately a very successful series of investment seminars for medical professionals in 2018, that yielded excellent sales and profit growth.

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