Why Purpose Fails
The concept of a purpose-driven company isn't new, but what was once an outlier idea is now essential to be competitive, attract top talent, and retain loyal customers. A new Razorfish study revealed that 62% of people say they buy on values. While more companies than ever are jumping on the purpose bandwagon, the unfortunate fact is that most lack conviction and fail at implementation.
Over half (53%) of marketers say they don’t believe they are acting on their own brand purpose, and 73% of marketers say their purpose doesn't live beyond their TV ads. Why is purpose falling at execution?
Razorfish’s Connecting Purpose to Performance Summit explored the power that purpose can have when it’s linked to performance. We heard from industry thought leaders and brands like Dove and Carrefour, about their experiences on how their full commitment to purpose influences organizational direction and strategy, along with customer experiences and products – it’s not just virtue signaling through advertising campaigns and social posts.
This first-of-its-kind virtual event went beyond the stats to demonstrate with clarity how to get to purpose and drive it through the organization, how purpose manifests across the customer experience, when purpose can go wrong, and how to measure effectiveness.
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Purpose to Performance
Introduction and context: The power of purpose in driving impact on business and society, where purpose fails, and a brief introduction to Razorfish’s role in helping brands connect Purpose to Performance.
Dove: From Ads to Acts
We all know Dove through its powerful purpose and compelling advertising, but they’ve done more to implement their purpose than just great advertising. We explored how Dove unlocked the power of purpose by putting it at the core of everything they do.
Carrefour: Acts for Food
Hear how Carrefour, the French supermarket chain, accelerated the food transition movement and transformed its business from a discount model to a food quality model by putting concrete actions behind their purpose.
The Chasm Between Purpose and Action
47% of marketers don’t believe in their own brand’s purpose, 72% claim they aren’t living up to their purpose through action. This panel traded views on why purpose is falling at implementation. Learn the causes and solutions to making more of a brand’s purpose.
Pulling Purpose into Experience
What impact does purpose have on a button on your website? How does it influence your retail experience? How does it affect the way your staff talks to customers? We learned how leading brands are leveraging purpose to win through meaningful experiences.
Transforming Grief into Joy
See how an unusual DTC startup called Eterneva is transforming the grieving experience through purpose and consequently achieved triple-digit growth in sales and oversubscribed to $10 million series A funding.
How should a brand measure purpose initiatives? What are the key metrics that should be explored? How do we create industry-wide benchmarks for transparency and consistency? After all, what can’t be measured can’t be managed.Amanda GeerDirector, Data Science & Analytics • Razorfish