Over the last couple of years, we've gone over a tipping point for brand purpose. High-profile brands are retreating from their commitments. Most recently we've seen Ford Motor Co ditching DEI goals due to pressure from protestors, ad awards are no longer hooked on purpose, some investors are revolting against it, and people are truly questioning whether purpose really ever was the panacea they thought it was.
The furor around purpose over the last few years reminds me of when social media first exploded into the mainstream and trailblazing brands started to find fame on its platforms. Every client suddenly insisted they needed to 'be on social media' too. They didn't usually know how or why, but they saw other brands doing it and didn't want to be left behind.
Purpose became a trend more than a useful strategic tool. As a result, it often became superficial, inauthentic and pointless. We ended up in a place where agencies and their clients tried to shoehorn a higher purpose onto every single brand just because, well, you had to have one, like you had to 'have social media'.
Slapping on a purpose doesn't necessarily lead to sales. Contributing to the problem has been the influx of dubious studies suggesting that all consumers want to buy virtuous brands and that purpose-driven brands grow faster.
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