Advertisers target conscious market with center for brand purpose
The Association of National Advertisers is hoping to help marketers figure out their companies’ socially conscious purpose, and find a way to communicate that to customers.
Media Reach reports that, the just-launched ANA Center for Brand Purpose is billed as a resource for guidance and education. It expects to issue white papers, create CMO playbooks and video Q&As, and hold regional conferences, Webinars and training workshops.
“Leading national advertisers have come to understand that being a force for good can indeed be a game-changer,” ANA’s chief executive Bob Liodice says. “Research shows that purpose-led brands grow two to three times faster than their competitors. . . Purpose is not simply a nice thing to have — it’s imperative in this day and age.”
Some companies must know they have a problem. An ANA/Ad Council survey of senior marketing members done five months ago found that while 78% strongly agreed their company had a “clearly defined” purpose, just 18% thought that purpose was part of the company’s business strategy. And none of them felt that the more altruistic purpose was “embraced internally across their organization.”
Another 82% indicated that their company needed help identifying and “activating” their brand purpose.
The ANA also plans to create a self-assessment tool so companies can address shortcomings in this area and come up with a plan to address it.
An ANA spokesman notes that “while purpose has been around for a while, it’s a relatively new trend.” He said the ANA survey found a high percentage of respondents (59%) with a brand purpose said it has been a priority for five years or less.
A study earlier this year from Porter Novelli/Cone found that three out of four customers expect companies to go beyond just making money and also work to positively impact society.
