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In recent years, I have witnessed an increased attraction by customers and new markets to products and businesses that focus on higher-level purposes, such as helping the needy, improving society, and fostering environmental sustainability. Many are using it successfully to increase their brand recognition, grow faster, and achieve long-term success.
For example, consider TOMS Shoes and founder Blake Mycoskie, whose passion for helping the needy by donating a pair to the underserved for every pair purchased, became a huge success. Or Patagonia with Yvon Chouinard, the renowned outdoor apparel brand, who built a great brand reputation based on a passion for a sustainable environment.
As a business consultant, I often get asked about the differences in managing the business in this new environment and I certainly have some insights. I recently saw these outlined well in a new book with a humorous title, “You Can’t Market Manure at Lunchtime,” by Maisie Ganzler, the current Chief Strategy and Brand Officer, Bon Appétit Management Company.
Maisie relates her own experience of creating a more sustainable company, Bon Appétit, in the food industry, detailing the challenges and business complexities encountered. I was particularly impressed with her suggested five steps to success, which I will paraphrase here with my own insights added:
1. Find a higher purpose that fits your passion. To assure your commitment is ongoing and satisfying to you, be sure to pick a focus that energizes your passion. Make sure your team, as well as your customers, see this purpose in every communication and marketing initiative. This incentive may have very little connection to your actual product offering.
2. Decide on a leverage point to begin transformation. This is the visible action you take to convince the market that you are actually walking the talk. It may mean switching to a critical new supplier, implementing a new policy, or highlighting your commitment in key marketing strategies. In all cases, it pays to take a long-term view, to balance initial costs.
3. Define the real-world parameters of success. The challenge here is to balance business health against the positive impact of your higher purpose on the environment and culture. A business that espouses a noble cause but does not survive in the face of competitors is not a success. Business sustainability and brand image are key parameters.
4. Set targets and metrics to measure progress. It’s always tempting to measure against absolutes like “all products will meet X” or “100 percent of suppliers will be Y,” but I advise against it because real change takes time and perfection is impossible. It’s important to measure variance from any targets and be prepared to pivot as required.
5. Align all your systems to support your goal. Adding a higher purpose to your business goals usually requires some changes to administrative systems beyond traditional financials and product tracking. Make sure none of your systems is working against your goal, and all highlight the leadership and brand definition you desire.
In cases where systems cause initiatives to collide, you need to be prepared to weigh several factors, including which speaks best to the heart of your brand, what external groups are applying pressure, potential government regulations involved, and what possible workarounds are available.
In summary, to successfully make meaningful change in the market, or build a brand based on a higher-level purpose, you must go beyond what’s already practiced in the marketplace and business operations. Think it through thoroughly early from the standpoint of all the different stakeholders, how they are going to respond, and what information they’re going to need.
Only then will you get the commitment from your team to spread the word and make it happen. Make it a source of pride for you and all constituents, and you too can change the world.
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