The Purpose-Driven Brand
Charting new territory in his role as Chief CSR Officer for Christie's, Usnik's first step was to define CSR as it relates to human psychology and the values of the Christie's brand. For Usnik, it starts with building a brand's purpose around Maslow's hierarchy of needs and helping your constituents get closer to self-actualization, or that state of reaching a higher purpose for a greater good.
"Moving customers upwards through Maslow's hierarchy of needs is critical to address," says Usnik. "Customers of all ages, and especially Millennials, are moving toward a state of self-actualization and looking to define their purpose and place in communities and the world. They seek relationships with brands that are doing the same within their own value set. As a result, any business today needs to ask itself, 'What is the impact of our activities on each other, the community, the workplace, customers and the planet?' "
Defining your brand's purpose and corresponding CSR efforts is the first step to developing emotional and psychological bonds with internal and external customers. When you make your CSR actionable by engaging others in your cause, you can build passion and loyalty that not only define your brand, but also your profitability. Coke defines its brand through its happiness campaign that involves delivering free Coke and other items, like sports equipment and toys, to villages around the world, and through water sanitization programs.
Tom's Shoes, an example that is known to most as one of the pioneers in philanthropic branding, went from $9 million to $21 million in revenue in just three years by being a "purpose-driven brand" that enables people to give back to others simply by making a purchase. With a cost of goods sold of $9 and a sale price of more than $60, that is not hard to do.
Jeanette McMurtry is a psychology-based marketing expert providing strategy, campaign development, and sales and marketing training to brands in all industries on how to achieve psychological relevance for all aspects of a customer's experience. She is the author of the recently released edition of “Marketing for Dummies” (Fifth Edition, Wiley) and “Big Business Marketing for Small Business Budgets” (McGraw Hill). She is a popular and engaging keynote speaker and workshop instructor on marketing psychology worldwide. Her blog will share insights and tactics for engaging B2B and B2C purchasers' unconscious minds which drive 90 percent of our thoughts, attitudes and behavior, and provide actionable and affordable tips for upping sales and ROI through emotional selling propositions. Her blog will share insights and tactics for engaging consumers' unconscious minds, which drive 90 percent of our thoughts and purchasing attitudes and behavior. She'll explore how color, images and social influences like scarcity, peer pressure and even religion affect consumers' interest in engaging with your brand, your message and buying from you. Reach her at Jeanette@e4marketingco.com.