Purpose: The Secret to Enduring Success

“Purpose is your organisation’s reason for being. It is a guiding star on the horizon that doesn’t change but inspires change.”

In the era of radical transparency and peak purpose, every company we see today has identified and defined their reason for being, but if we look beneath the vague statements of intent, we are likely to find that only a handful of companies truly understand the power of purpose let alone passionately live it. 

These companies fail to realise that purpose is a significant mechanism of growth and progress. 

According to a study conducted by the global strategy and consulting company, Accenture, 62 percent of consumers said they are more likely to engage with purpose-led organisations. Another study revealed that brands with a clear ‘purpose’ and a high impact on people’s lives grew two and a half times more than brands with a low perceived impact. In addition, while purpose is an idea beyond profit, a study conducted by KPMG revealed that purpose-driven brands achieved a higher value growth, greater KPIs and long-term profitability.

There is tangible value in making your brand’s purpose a core driver of growth and differentiation. A statement that global consumer goods company, Unilever can attest to. Unilever’s purpose is “to make sustainable living commonplace”. Their long-standing success and reputation are not owed to the renowned brands under their name, but to what they stand for. The company doesn’t just passionately live its purpose but ensures that the brands they acquire align with their desire to make a lasting impact on the world. In addition, Unilever’s CEO, Alan Jope, recently announced that the organisation’s purpose-led, Sustainable Living Brands are growing 69% faster than the rest of the business and delivering 75% of the company’s growth. If that doesn’t convince you of the power of purpose, then we don’t know what will. 

Therefore, it goes without saying that purpose is the secret to enduring success.