Companies have long engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation.
Purpose-driven marketing is all about value innovation.
And providing real value is the cornerstone of business and marketing success.
Instead of focusing on beating the competition and bleeding out over price wars (Red Ocean) you focus on making the competition irrelevant by creating more value for buyers and stakeholders. (Blue Ocean)
We propose a more conscious approach to marketing and business. Here are a few things you can do to see where and for whom you need to add more value.
- Make a list of all your stakeholders (Customers, Employees, Suppliers, Investors, Community, Environment etc….)
- Ask the following questions for each of your stakeholders
- Which elements of your product or service in your industry takes for granted should be eliminated?
- Which elements of your product or service should be reduced well below the industry’s standard?
- Which elements of your product or service should be raised well above the industry’s standard?
- Which elements of your product or service should be created that the industry has never offered?
You can look at innovative companies with complementary products for inspiration.
… imagine a movie theatre with a babysitting service, or a movie hall with a bar where you can order a beer and some snacks while watching the movie.
… A hotel run be teenagers at risk in order to give them work experience.
… A “rent a jeans” or subscription model for fashion stores, or maybe install a catwalk and make every customer a fashion model or add a free repair service for clothes bought in your store.
… A taxi service with comedians, local guides, or social workers as drivers.
Defining a clear purpose for your company is incredibly important.
A clear purpose in life and business is to get you excited, motivated and passionate. It’s like a lighthouse and will not only show you the way but also attract clients who resonate with your purpose. And your passion is contagious (not kidding – scientifically proven) There is no stopping a passionate brand.
Human helps companies who struggle to set themselves apart and create healthy growth by providing purpose-driven marketing solutions so that they re-discover their passion and become the brand their customers love.
Talk to us if you’re getting excited 😊