In recent years, I have seen growing customer and new market appeal to products and businesses that focus on higher-level purposes, such as helping the poor, improving society, and promoting environmental sustainability. I witnessed it. Many companies have successfully used this to increase brand awareness, grow faster, and achieve long-term success.
For example, consider TOMS Shoes and founder Blake Mycoskie. His passion has become a huge success in helping the poor by donating a pair of his to an underprivileged person for every pair purchased. Or Yvon Chouinard's Patagonia, a renowned outdoor apparel brand that has built an excellent brand reputation on a passion for sustainability.
As a business consultant, I am often asked about the differences in managing a business in this new environment, and I certainly have some insights. I recently read these points well explained in a new book with the humorous title, You Can't Sell Fertilizer at Lunchtime, by Maisie Gansler, now Chief Strategy and Brand Officer at Bon Appétit Management Company. I saw you there.
Maisie shares her experience of founding Bon Appétit, a more sustainable company in the food industry, detailing the challenges encountered and the complexities of the business. I was particularly impressed by her five steps to success that she suggested. I'll paraphrase this here with my own insight.
1. Find a higher purpose that matches your passion. To ensure your commitment is ongoing and satisfying, be sure to choose a focus that fuels your passion. Make sure your customers, as well as your team, understand this purpose in all your communications and marketing efforts. This incentive may have little to do with the actual product offering.
2. Determine the leverage point to begin the transformation. This is a tangible action you take to convince the market that you are actually following your word. That might mean switching to a key new supplier, implementing new policies, or emphasizing key marketing strategy efforts. In either case, it is important to balance the initial costs with a long-term perspective.
3. Define the parameters of real-world success. The challenge here is to balance the health of the business with the positive impact that a higher purpose has on the environment and culture. Even if your cause is noble, a business that cannot survive in the face of competitors is not a success. Business sustainability and brand image are important parameters.
Four. Set goals and metrics to measure your progress. It's always tempting to measure against absolutes such as “all products meet X” or “100 percent of our suppliers are Y,” but real change takes time and perfection is impossible. I don't recommend it because it's not possible. It's important to measure the variance from any goals and be prepared to pivot if necessary.
Five. Adjust all systems to support your goals. Adding higher purpose to business goals typically requires some changes to management systems beyond traditional financial and product tracking. Make sure that none of your systems are working against your goals and that everything emphasizes the leadership and brand definition you want.
When systems create a conflict of initiatives, which one best represents the core of the brand, what external groups are exerting pressure, what government regulations may be involved, and what workarounds are available? You should be prepared to consider several factors, such as:
In summary, to successfully make meaningful changes in your marketplace or build your brand around a higher level of purpose, you must go beyond what is already practiced in your marketplace and business operations. Thoroughly consider early on how all the various stakeholders will respond and what information they will need.
Only then can you get the word out and the commitment from your team to make it happen. Make it a source of pride for you and all your constituents, and you too can change the world.
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