Keep me inspired.
Sign up for updates & insights.
B2B Purpose Paradox
- Purpose-driven companies make more money, have more engaged employees, more loyal customers, and are better at innovation and transformational change.
- Once a marketing practice to support worthy causes and boost reputation, purpose is now embraced as a critical growth strategy.
- Purpose can increase shareholder value by $1 Billion.
- The question is no longer if an organization will state its purpose, but how it will activate that purpose authentically.
- Employees are the priority audience for B2B purpose, followed by customers, shareholders, communities, future talent, and supply chain.
- 86% respondents believe that purpose is important to their business, yet only 24% said purpose is embedded in their business to the point of influencing culture, innovation, operations and their engagement with society.
- The report discusses 4 main challenges that prevent full activation of purpose, with purpose being perceived as a PR tactic being the most significant challenge.
- To ignite purpose, companies should identify their purpose ambassadors, drive purpose from senior leadership, embed purpose into culture, make employees their engines and measure the impact.
- Enhanced purpose communications can pay off.
- Measure impacts of activated purpose on new products or services, reputation, customer retention, growth, and ultimately sales.