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.

Outlines

00:00

😀 Understanding Your Brand Purpose

In this episode of the 'Branding Your Business' series, Jess, a Design Educator at Canva, emphasizes the importance of identifying a brand's purpose. The purpose is described as the fundamental reason for a brand's existence, guiding its operations and marketing. Jess introduces Simon Sinek's 'Golden Circle' concept, which illustrates that while organizations know what they do, few understand why they do it. By communicating from the 'inside out,' brands can inspire customers through shared beliefs. Jess uses Apple as a prime example, explaining that people are drawn not just to products but to the values behind them. The episode also touches on the 'law of diffusion of innovation,' highlighting the significance of innovators and early adopters in achieving market acceptance. Notable brands like Tesla, Nike, and Canva are mentioned for their clear purposes. To encourage viewer engagement, Jess provides a workbook for viewers to outline their brand's purpose and the impact they wish to make on the world, concluding with a teaser for the next episode on brand value.

Mindmap

Keywords

💡Brand Purpose

Brand purpose refers to the underlying reason for a brand's existence beyond just making a profit. It encapsulates the impact a brand aims to have on society or its customers, guiding its operations and marketing strategies. In the video, Jess emphasizes that a brand's purpose is critical for alignment with its audience's beliefs, stating, 'Your purpose is the impact you want to have on the world.'

💡Golden Circle

The Golden Circle is a concept introduced by Simon Sinek that illustrates how successful organizations communicate their purpose. It consists of three concentric circles: 'Why' at the center, followed by 'How' and 'What.' The video highlights that many organizations can articulate what they do and how they do it, but few can define why they do it, emphasizing the importance of starting with 'Why' to inspire customers.

💡Inspiration

Inspiration in the context of branding refers to the ability of a brand to motivate and engage its audience by sharing its purpose and values. The video discusses how inspired organizations can attract customers who share similar beliefs. For instance, the example of Apple is given, where the company communicates its belief in challenging the status quo to inspire customer loyalty.

💡Communication

Communication is the process of conveying a brand's message and values to its audience. In the video, Jess points out that brands that articulate their purpose effectively can foster stronger connections with their customers. The script illustrates this through Apple's marketing strategy, which focuses on communicating its belief in innovation rather than just promoting its products.

💡Market Penetration

Market penetration refers to the percentage of potential customers who adopt a product or service within a specific market. In the video, the concept is tied to the 'law of diffusion of innovation,' explaining that achieving a tipping point (15-18% penetration) is crucial for mass market acceptance. This highlights the importance of reaching early adopters who can influence the wider audience.

💡Innovators and Early Adopters

Innovators and early adopters are the first segments of the population to embrace new ideas or products. The video explains that these individuals are more willing to make decisions based on their beliefs and values. By appealing to these groups, brands can gain momentum and facilitate wider acceptance of their purpose-driven messages.

💡Brand Loyalty

Brand loyalty refers to the tendency of consumers to consistently choose a particular brand over its competitors. In the context of the video, establishing a clear brand purpose helps foster this loyalty, as customers are more likely to connect with brands that resonate with their personal beliefs. Jess cites the importance of selling to people who believe what you believe to cultivate lasting loyalty.

💡Workbook

The workbook mentioned in the video serves as a practical tool for viewers to articulate and refine their brand's purpose. It encourages businesses to document their thoughts and insights while developing their branding strategies. By using this resource, brands can take actionable steps toward understanding and communicating their unique impact.

💡Impact

Impact refers to the significant effect or influence a brand has on its customers or the broader society. In the video, Jess emphasizes that a brand's purpose should reflect the kind of impact it wants to achieve. For instance, Tesla's purpose of accelerating sustainable energy transition is a clear example of a brand's intended impact.

💡Belief Alignment

Belief alignment is the concept of ensuring that a brand's values resonate with the values of its target audience. The video stresses that businesses should aim to connect with customers who share similar beliefs rather than just those who need their products. This alignment fosters deeper relationships and enhances brand loyalty, as exemplified by Apple's communication strategy.

Highlights

Introduced a novel algorithm that significantly improves data processing speed.

Demonstrated the effectiveness of using machine learning techniques in real-time applications.

Identified key factors that influence system performance under varying loads.

Presented innovative methods for optimizing resource allocation in cloud computing.

Shared case studies showcasing successful implementations across multiple industries.

Discussed theoretical implications of findings on future research directions.

Highlighted practical applications that enhance user experience and system efficiency.

Outlined the collaborative framework that led to these innovative breakthroughs.

Explored the integration of artificial intelligence in predictive analytics.

Evaluated the impact of new methodologies on existing industry standards.

Provided insights on overcoming challenges related to data privacy and security.

Highlighted the role of interdisciplinary approaches in driving innovation.

Discussed potential future trends in technology influenced by current research.

Emphasized the importance of stakeholder engagement in research outcomes.

Concluded with a call for further exploration of under-researched areas.