The contribution any brand makes – whether it’s business or consumer focused – in society and culture, is undoubtedly playing an increasingly important role in the decision, or otherwise, of customers and prospects to engage with it. This challenge often goes beyond the remit of the marketing department and can even lead to a complete rethink of the relationship between a brand and its target audience.
In his new book ‘Screw Business As Usual, And Make Your [Huge Piles Of] Money By Doing Good’, that well known, lime-light-loving, bearded billionaire, Richard Branson, contends that as long as entrepreneurs can make profits, or even indeed ‘huge piles of money’, while helping others, why would you do business any other way? He argues that a business with a social conscience will save resources, drive higher profits, be more satisfying than even the material wealth it creates and attract and retain employees who – motivated by their love of the company’s social mission – will work harder.
“Fuel is nearly 30% of our costs,” says Branson of his Virgin Airlines business, noting that waste is enormously expensive and reducing resources is both good for the environment and for keeping down costs. He seems to be ‘walking the talk’ by claiming that the airline will be using 100% clean-burning fuels by 2020. “The airline industry could become one of the cleanest industries, rather than one of the dirtiest industries in the world.” Branson also suggests that “…most successful people in life do not start with the money-motive whatsoever.” Whilst you could argue ‘that’s easy for him to say’ having made his billions, he points to new businesses such as Google which started out to “make a difference in people’s lives” and their financial success is a happy by-product.
Branson’s sentiments echo those in the “Creating Shared Value” paper, published in the Harvard Business Reviewby Professor Michael E. Porter, which proposes a redefinition of capitalism in order to create a value model where benefits are both financial and to society as a whole.
In order for brands to come to terms with this shift, they need to understand the changing drivers of the decision makers within their target audience, and with it, rethink the role their brand plays in society; To think about what the brand really stands for across all touchpoints; And to make sure the brand strategy delivers real and genuine tangible benefits which demonstrate a commitment for mutual benefit – whether that’s also helping the environment, donating a portion of profits, or supporting a causes.
A collaborative approach also allows brands to engage with, and enable, their staff, customers and network to produce new platforms that benefit the shared ideals of the business and society. People are usually more supportive of ideas and change that they have contributed towards themselves. By leveraging new technologies, companies are able to engender brand buy-in not only from their clients, but equally as importantly, from their staff as well.Collaborative initiatives, now readily enabled by new social media channels, focus on driving engagement by gaining support and adoption by the most motivated and influential users and providing them with a platform to develop their own ideas by enlisting the broader support of their own social groups.






