New Skill Set for Advertising: Bringing Authentic Purpose

Kenneth Pao, Executive Managing Director, Criteo APAC, writes about how intention and purpose can create a better advertising experience across the consumer ecosystem.

India is one of the fastest growing economy, providing huge opportunities for the growth to various industries. It is also expected to be one of the opportunistic markets to show rising trends for the advertising industry, which is one of the most important sectors of the media and entertainment industry where Indian government provides remarkable support.

We are living in an era of disruption, and as a part of it, the advertising industry has also witnessed a rapid transformation over the years. 

Ever sensitive to shifts in consumer sentiment, brand marketers have long understood that in order to connect with today’s consumers, there is a need to reflect a sense of purpose beyond a purely commercial one. In short, advertisers understand that purpose addresses consumer needs and helps ensure brand loyalty. 

Here’s proof: Kantar Consulting’s 2020 Report, "Inspiring Purpose-Led Growth”, revealed that brands with a high sense of purpose have experienced a brand valuation increase of 175 per cent over the past 12 years. Comparatively, brands with a low sense of purpose only realised a 70 per cent growth rate. 

And Accenture Strategy’s most recent global survey of nearly 30,000 consumers found that 62 per cent of customers want companies to take a stand on current and broadly relevant issues like sustainability, transparency or fair employment practices. Interestingly, Criteo research has found that more than one in four shoppers in India have stopped buying a brand because its values weren’t aligned with their personal beliefs. 

The Purpose Generation 

A significant driver of purpose-led business practices is the influence of Millennial and Gen Z consumers. Let’s revisit that Kantar Consulting study: “Nearly two-thirds of Millennials and Gen Z express a preference for brands that have a point of view and stand for something.” Similarly, a report from PSFK revealed that Gen Z specifically tends to have a strong sense of purpose, feels connected to important causes, and 69 per cent “think brands should help them achieve their goals.”

Given these major shifts in the consumer mindset, particularly among younger consumers, how can brands bring purpose into their work to create a better advertising experience to the consumer ecosystem? I’ve identified three ways below: 

  1. Meaningful Steps: Brand marketers mustn’t limit themselves to, say, mission statements and other PR-driven tactics that are light on action. Consumers are looking for brands to take meaningful steps that have tangible results. To achieve this, your brand needsto embody purpose and it should touch all parts of your organization, from the leadership team downwards. 
  1. Create a dialog around purpose: Advertising and other communications programs should enter the picture once purpose has been established as your organisation’s North Star. This will ensure your communications will be credible and authentic. Transparency is essential, too; build trust by engaging your consumers on social and make yourself accountable. Young, socially engaged audiences expect this of brands. And an authentic, well-communicated purpose that engages Gen Z and Millennial consumers will lead to the likelihood of a purchase. A recent org study found that a brand’s association with a social cause will affect 58% of young consumers’ decision of purchasing from that brand. 
  1. Hit purpose passion points: Make sure your purpose-driven campaign meets young consumers in their cultural space and addresses the issues they care about. Give them something they’ll want to engage with and share. While it’s important to define your organisation’s purpose with something that acts in alignment with your history and values – think about Patagonia and the environmental causes it supports – in an era defined by personalisation, young consumers expect brands to meet them where they are instead of the other way around. Your organisation’s purpose and marketing will need to hit their passion points while still being authentic to the brand’s core advocates.

The brands that get it – the brands that make purpose their North Star, take the meaningful steps, creating authentic conversations to reach consumer passion points – are the ones that are more likely to succeed. They understand that purpose marketing can’t be just a glossy coat of paint.

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