What is a brand purpose and why you need one | Branding your business

Canva

7 Sept 202204:57

Summary

TLDRIn episode two of the 'Branding Your Business' series, Jess, a Design Educator at Canva, explores the significance of identifying a brand's purpose. By referencing Simon Sinek's Golden Circle concept, she highlights that successful brands understand their 'why'—the core belief that drives their actions. Using Apple as an example, Jess illustrates how brands can inspire loyalty by articulating their purpose beyond mere product promotion. The episode emphasizes the importance of connecting with innovators and early adopters to achieve market success and encourages viewers to use a provided workbook to define their own brand purpose.

Takeaways

😀 A brand's purpose is essential; it defines the reason for its existence and guides its overall strategy.
📈 Successful brands clearly communicate their purpose and align their operations around it.
💡 Simon Sinek's 'Golden Circle' model emphasizes the importance of starting with 'why' rather than just 'what' and 'how.'
🚀 People are more likely to engage with a brand that shares their beliefs and values.
💬 Effective communication of purpose can inspire both customers and employees, fostering loyalty and dedication.
📊 The 'Law of Diffusion of Innovation' highlights the importance of early adopters in achieving market success.
🔑 The key to attracting the early majority is closing the gap between initial innovation and mass acceptance.
🏆 Brands like Apple, Tesla, and Nike have clear purposes that resonate with their audiences, driving their success.
📝 A workbook is provided to help individuals articulate their brand purpose and plan effectively.
🔄 The next episode will focus on brand value, encouraging viewers to subscribe for updates.

Q & A

What is the main focus of this episode?
-The episode focuses on identifying your brand purpose and understanding its importance in branding.
Why is a brand's purpose important?
-A brand's purpose is crucial because it defines what the brand stands for and helps organize the entire business around that belief, influencing how the brand connects with its audience.
How does Simon Sinek explain the concept of a brand's purpose?
-Simon Sinek uses the 'golden circle' model, emphasizing that while most organizations know what they do and how they do it, very few understand why they do it, which is key to inspiring others.
What example does Simon Sinek use to illustrate the importance of 'why'?
-He contrasts Apple's marketing approach, showing that Apple communicates its purpose of challenging the status quo, rather than just promoting its products, which resonates more deeply with consumers.
What is the difference between customers who buy products based on need versus belief?
-Customers who buy based on need are looking for functional solutions, while those who buy based on belief are motivated by shared values and a connection to the brand's purpose.
What is the 'law of diffusion of innovation' mentioned in the episode?
-The 'law of diffusion of innovation' describes how different segments of the population adopt new ideas and products, highlighting the need to achieve a tipping point for mass market acceptance.
What percentage of market penetration is required for mass market success?
-Mass market success typically requires achieving between 15% and 18% market penetration.
What are some examples of brand purposes given in the episode?
-Examples include: Apple, which aims to challenge the status quo; Tesla, which focuses on accelerating the transition to sustainable energy; Nike, which seeks to inspire every athlete; and Canva, which empowers the world to design.
What resource is provided to help viewers define their brand purpose?
-A workbook is offered that viewers can use to gather their brand plans and inspiration, helping them define and refine their brand's purpose.
What topic will the next episode cover?
-The next episode will focus on brand value.