Understanding that tactics are not strategy is vital for a team’s success. However, for a business to be truly successful, it’s leaders must be able to convey purpose. Without purpose how does any team understand what you are strategizing for? More importantly, how do your customers understand the value you bring to their lives?
Research by James Collins and Jerry Porras has found that organizations that are purpose and value driven outperformed the general market and comparison companies by 15:1 and 6:1, respectively.
Has that got you thinking? Want more “food for thought”?
Companies that have shared-values–based cultures enjoyed 400% higher revenues, 700% greater job growth, 1,200% higher stock prices and significantly faster profit performance, as compared to companies in similar industries, according to John Kotter and James Heskett’s book “Corporate Culture & Performance”.
Well beyond the “What” of marketing, customers and employees alike need to understand the “Why”. It’s not what you are selling, but why are you selling it that inspires people to take action. When people understand a clearly articulated purpose they can be driven to make a difference which can also inspire people to overcome great odds be it budget or time constraints, lack of proof something will truly work or even the fact that they might not know you that well.
All the tactics implemented, and all the strategies defined mean nothing when the guiding light of purpose and value are not defined. Its like a ship and its crew floating out on the ocean at night without a guiding light to bring them safely into the port they are sailing too. When companies become value or purpose-driven companies they obtain a huge competitive advantage.
Employees and customers alike are starving for purpose. As employees we all want a job, as customers we all are looking for the best price. However as humans, we long for more. As humans we all crave that feeling for deeper meaning that goes beyond the monetary value of a paycheck or a discount.
We want value and we want purpose. Purpose ignites passions. Purpose drives us. Purpose gives hope and reason for doing what we do. Companies that understand this and weave it into their cultural engage employees on a totally different level. They also engage customers as well.
This goes well beyond just writing a mission statement and slapping it up on your “About Us” or “Mission Statement” page or your website or printed brochure. When purpose driven companies actually live and act by what they define is their true purpose, it becomes part of the culture, when it becomes part of the culture, it’s part of the ‘team’ and the individuals that make up the team. When it is woven that deeply, it is reflected in your marketing strategies, efforts & tactics and conveyed to your audience and customers in everything you do. When customers see that, they respond because they understand the “Why” and the “Why” is so much more important internally that the “What” they are purchasing from you.
How will you become a purpose driven company?