Your Corporate “Why” Should Guide Your Marketing Strategy
Why do people buy things? What motivates them to make a purchase? If businesses don’t understand why their customers buy, then they won’t be able to create effective marketing campaigns that will convert leads into paying customers. This blog post will discuss the importance of understanding your corporate “why” and how it should guide the marketing efforts of large, medium, and small businesses.
Purchase Behaviors and Consumer Behavior
Many different factors influence purchase behaviors and marketplace trends. For example, if a friend recommends a product to us, we are more likely to consider buying it because we trust our friend’s opinion. Or, if we are online shopping and see a celebrity endorsement for a product, we might be more likely to buy it because we think that the celebrity must use and like the product if they’re willing to endorse it. Consumer beliefs and attitudes also play a significant role in purchase decisions. For example, if consumers recognize a brand as high quality, they are more likely to purchase that product.
What’s essential for businesses to understand is that consumer purchases are not always based on logic or reason. Often, emotional and social factors can play a significant role in helping consumers decide whether or not to buy a product. And this is where businesses need to focus their marketing strategies if they want to be successful.
Businesses need to understand the emotions that drive purchase decisions. We can classify these emotions into four different categories:
- Positive feelings (happiness, love, satisfaction)
- Negative feelings (fear, sadness, anger)
- Neutral feelings (boredom, contentment)
- Mixed feelings (excitement, anxiety)
Each of these psychological factors can play a role in consumer behavior. For example, the fear of missing out is a strong motivator for purchasing decisions. That’s why panic buying can be a real problem when there is a shortage of goods.
When businesses create an emotional connection with their customers, they build brand loyalty. Customers become loyal, repeat customers. Furthermore, they are more likely to become brand advocates and tell their friends and family about the product or service.
How Do Brands Create an Emotional Connection With Customers?
There are many different ways brands can create an emotional connection with customers. Some of these include:
- Building a solid brand identity
- Telling stories
- Creating powerful customer experiences
Creating a solid brand identity is all about creating recognizable and relatable elements that consumers can connect with on an emotional level. For example, local business enterprises like local farms can tap into sentiments like buying local and supporting the community.
Stories humanize businesses and help customers see the business as more than just a company but a group of people with passions, values, and goals. When companies tell stories, they create an emotional connection with their customers by giving them a reason to care about the brand.
Creating powerful customer experiences is also a great way to make an emotional connection with your customers. For example, brands that sell luxury cars, like Rolls-Royce, go above and beyond to create a luxurious, VIP experience for their customers.
What is a corporate why, and how can companies determine theirs?
A corporate “why” is the purpose, cause, or belief that drives a company.
A strong marketing message can inspire customers. One of the simplest and most effective ways is to start with why. In other words, company leaders should begin by clearly articulating their company’s purpose.
- Why does your business exist?
- What difference does it make in the world?
- What does your company stand for?
Once a business has answered these questions, it will have a deeper understanding of the company’s “why.”
If you are having trouble determining your company’s “why,” Simon Sinek wrote two books that can help:
- The Golden Circle
- Start With Why
Examples of Companies That Have Successfully Used Their Corporate Why in Their Marketing campaigns
- TOMS Shoes: TOMS was founded on the principle of giving back. TOMS gives a pair of shoes to a child in need for every purchase made. This simple marketing message has resonated with consumers and helped TOMS become a successful global brand.
- Warby Parker: Warby Parker is a glasses company founded on the principle of providing high-quality, stylish glasses at an affordable price. Their marketing campaigns often focus on this message, and it has helped Warby Parker become a popular choice for consumers.
- Patagonia: Patagonia is an outdoor clothing company that is committed to environmentalism. Their marketing campaigns often focus on this message, and it has helped Patagonia become a popular choice for consumers looking for sustainable clothing options.
Tips For Creating Effective Marketing Campaigns Using Your Corporate Why
Here are a few tips to help businesses create effective marketing communications and keep up with marketplace trends:
- Keep it simple: A corporate “why” should be easy to understand and remember. Avoid using jargon or complicated language.
- Be specific: A vague “why” will not inspire consumers. Be clear about the difference the company is making in the world. Tap into sentiments like buying local and sustainability to connect with consumers on an emotional level.
- Make it actionable: Consumers should know what they can do to help you achieve a company’s “why.” For example, if the company’s “why” is to reduce greenhouse gas emissions, then marketing campaigns should focus on how consumers can help by reducing their carbon footprints.
- Tell a story: Consumers are more likely to remember a story than remember a list of facts. Use storytelling to illustrate the business’s “why” and make it more relatable to consumers.
- Focus on the future: A great marketing campaign will focus on the future and how the company will make the world a better place.
- Use emotion: Emotional marketing is more effective than rational marketing. Use the business’s “why” to tap into consumers’ emotions and inspire them to take action.
- Do the market research: Keep up with marketplace trends and use market research to understand what consumers are looking for.
The Bottom Line
A corporate “why” should be the foundation of a business’s marketing strategy. Keep it simple, specific, actionable, and emotional to inspire and persuade consumers.