From interviewing 109 CEOs and CMOs, we found the following:
Only 47% of all the value a company delivers, to its customers and to society, is covered in its brand communications.
Being able to fill this sizable awareness gap (53%), being able to have their brand communications better capture the full scope of their delivered value, presents a tremendous brand purpose opportunity to these companies. Unlocking that potential enables them to connect more deeply with their employees and customers.
For this purpose, we developed our Brand Value Palette™ tool. It comes with a data-driven step-by-step approach to helping companies define or redefine their brand purpose. In other words, to help them articulate their ‘why’.
Our proprietary Brand Value Palette™ tool provides our clients granular insights in their level of value delivered, their level of value communicated, and their level of value perceived. The data is based on external and internal stakeholder input.
Subsequent workshops with key stakeholders will then use the Brand Value Palette™ as a base of reference to arrive at a clear understanding of the company’s ambition, intention, constraints and imperatives. Ultimately, from these elements, a brand purpose statement can be distilled.