By Claudia Perez Riva | September, 2024

My dear owners of small and medium-sized businesses, I bring to the table two questions, both of which share a common answer: Purpose.

In everyday life, psychologists frequently ask their patients: What is your life’s purpose? This question is not merely rhetorical. In fact, the answer often reveals a set of objective reasons for a person to live, reasons that are rooted in their values. If we extrapolate this idea to the business world, we find a similar result: purpose is the rationale, the justification, the motivation, or the reason – the “why” – behind an action or intent.1 We cannot forget the famous quote by Seneca that says, “There is no favorable wind for the sailor who doesn’t know where to go.”

If we define our purposes correctly and coherently, our results will have a double impact: both internally and externally. To create our purposes, we must rely on our principles and values, and if we do this correctly, we can steer our ship more effectively.
Internally, this purpose, along with a set of principles and values, can serve as a compass for the company, guiding decision-making. It can help a leader or the company’s board of directors determine, for instance, which services and products they want to provide. On the other hand, it inspires and motivates employees because they understand and connect with the company’s purpose, which can boost productivity and job satisfaction. In difficult times, a clear purpose can help us be resilient, as it provides a solid foundation in our values and objectives.
From an external perspective, the establishment of a well-defined purpose offers many advantages. First of all, it can create engagement, foster emotional connections, and increase customer loyalty, all of which contribute to building stronger customer relationships. At the same time, a strong purpose can set us apart from competitors, enhance our brand reputation (a company with a clear and well-articulated purpose inspires respect), and have a social impact if our purpose goes beyond profit.
An example that appears in my daily life, and perhaps in yours as well, is the brand Tesla, whose mission is “To accelerate the world’s transition to sustainable energy.” This purpose is based on the company’s core values: sustainability, innovation, and environmental responsibility. This is an excellent purpose with both, social and environmental impact. I can say dear readers, that I identify 100% with Tesla. Unfortunately, I can’t afford to buy a Tesla car right now, but if I could, I would be one of their most loyal customers because I identify with a company that places environmental responsibility at the center of its work.

How about we conduct some introspective research on the purpose of this business? My marketing consultant group “MACLA”, an agency that all of you know very well. I invite you, dear readers, to do the same exercise with your own businesses. I would say that my purpose with MACLA is: “To promote inclusive economic development by empowering small and medium-sized businesses.” My values are as follows:

• Commitment to success: I enjoy helping people realize their dreams and aspirations, and empowering them to succeed.
• Innovation: I encourage the growth of small and medium-sized businesses through creativity and
adaptability to the market.
• Sustainability: I like supporting inclusive and equitable economic development that contributes positively to the community, business environment, and the creation of decent work.

In conclusion, my dear readers, brand purpose provides us with added value because it creates deeper emotional connections with the public and employees, complementing a product’s quality and convenience. From a holistic perspective, and considering the main objectives of marketing communication—informing, reminding, persuading, connecting, and motivating—My question to all of you to conclude today’s post is : If we have a strong purpose, isn’t it easier to convince, persuade, engage, build connections, and motivate our target audience? Isn’t it also easier to determine the type of information we want to convey? and isn’t it easily be remembered by our audience? I invite you to think about it a little.
Our next meeting will be next week, where we will continue discussing about the fascinating and wonderful world of marketing.