This is part of a series of blog posts celebrating our 50th anniversary, all of which address the question: What does the future of the PR and communications industry look like?
More and more, brands are looking to fulfill the needs of their key stakeholders (customers, prospects, their employees and job candidates) by becoming companies that are driven by moral purpose.
Having great products, stellar services and a strong balance sheet are no longer enough for companies to attract key audiences and deliver long-term, sustainable value. The clarion call of today is that every company in every industry must have a corporate purpose. Unlike traditional CSR programs, this purpose should be something intrinsic in a company’s DNA, allowing it to mobilise around a societal problem it is uniquely positioned to address. This could mean developing sustainable products or donating products or services to those in need.
My new book, Authentic Marketing: How to Capture Hearts and Minds Through the Power of Purpose, provides a guide for transforming organisations around purpose and establishing new levels of customer and employee engagement through a more authentic form of marketing. I truly believe companies that embrace this approach will deliver a more authentic form of marketing, as meaningful narratives around their purpose will naturally appeal to the values of their audiences.
This has particular appeal to millennials, a demographic that is estimated to have the most spending power of any generation and chooses to work for and buy from companies that strive to have a positive impact on the world.
The future of PR, marketing and communications looks very bright for the brands that work to identify and live their purpose, authentically capturing the hearts and minds of the audiences most important to the long-term success of their businesses.