Purpose-Driven Partnerships: How Brands Can Win the Modern Consumer
A brand’s mission and vision should be central to all its actions. Traditionally, businesses have focused on generating profits for their shareholders, with consumerism at the forefront. However, the tides have been changing.
More and more, consumers (especially Millennials and Gen Z) are gravitating toward brands that have a strong sense of purpose. They expect companies to prioritise their values and missions alongside their financial objectives, with a clear commitment to social or environmental issues – from working with charity partners, to more nuanced and bespoke collaborations. Today’s consumers want to align their purchases with their personal values, opting to spend with purpose-driven companies over their competitors.
Consumer values at the heart of partnerships
Today’s consumers are placing more importance on brands that reflect their values and contribute to social, political, or environmental causes. According to the World Economic Forum, an average of 70% of people say they buy from brands that share their values or personal beliefs. Far from a new phenomenon, this percentage has risen significantly over the past decade. Purpose-driven partnerships help brands build stronger emotional connections with customers who prioritise ethical practices, sustainability, or social responsibility. Bright Partnerships helped DHL Express to deliver a series of live music events for this year’s BRITs Week as part of their new partnership with War Child UK, the charity whose mission is to protect, educate, and stand up for the rights of children in war. The collaboration links DHL’s core purpose of ‘Connecting people, Improving lives’ to the diversification of their sponsorship portfolio within music.
Stand up to stand out
In competitive markets, purpose-driven partnerships help brands stand out from the crowd by demonstrating a commitment to something greater than just profit. This differentiation can resonate with consumers thus encouraging brand affinity. Purpose-driven partnerships allow companies to fulfil CSR objectives.
According to Dentsu UK and Ireland, 90% of Gen Zers in the UK and Ireland prioritise brands with ‘a purpose beyond profit’. This alignment with global or societal causes is often seen as a sign of corporate integrity. For example, The Body Shop embedded principles of fairness and sustainability into the company’s foundation and have been actively involved in advocating for causes they stand for, such as combating climate change through partnerships with organisations like Plastics for Change. In 2023, British cosmetics company Lush ran their Have a Heart campaign in partnership with Galop, the UK’s leading LGBT+ anti-abuse charity. The campaign invited Lush customers to sign Valentine’s Day cards in-store and online calling on MPs to introduce legislation to protect LGBT+ people from conversion therapy.
Authenticity, loyalty, and trust phenomenon
Modern consumers value transparency and are more media-savvy than ever before. The desire for transparency is not new; a 2021 Forbes study found that 94% of consumers are more likely to be loyal to a brand that’s completely transparent. Today’s brands now have an opportunity to use partnerships to tell these compelling stories and to manifest these values as KPIs to achieve business goals. When brands collaborate with partners that share a similar purpose or mission, they often gain more trust and loyalty from consumers. Authentic, purpose-driven efforts can foster long-term relationships, especially if customers see the brand’s commitment as genuine and mutually beneficial. HSBC UK’s partnership with the housing and homelessness charity, Shelter, is a prime example of this. Working together, their partnership aims to support people to build financial resilience and help break the vicious circle of homelessness; a mutually beneficial goal, rooted in authenticity.
Recruitment
Employees, particularly younger professionals, are increasingly looking to work for companies that are purpose-driven and have a clear social impact. Deloitte reports that 49% of Gen Zers say they have made choices on their career path and potential employers they’d like to work for based on values and ethics. Companies engaged in meaningful partnerships are more likely to attract and retain top talent who share similar values.
Implementing a purpose-driven brand strategy should be an essential part of your overall strategy. Purpose-driven initiatives can motivate your consumers, employees, and partners to work together as a cohesive force, fostering growth, making a meaningful impact, and creating enduring partnerships.
To find out how your brand can find purpose in its marketing strategies, contact Bright Partnerships.
