What separates today's most successful brands from the merely average ones? More and more consumers expect brands to have not just functional benefits but a meaningful social purpose. Consequently, companies are taking social stands in very noticeable ways—Airbnb used a Super Bowl ad to seal its commitment to diversity publically. Brands increasingly use social purpose to advise marketing, inform product innovation, and direct investments to social programs.
Brands with Purpose Are More Attractive to Consumers
If you’ve read Simon Sinek’s book “Start With Why” or heard his popular TED Talk, you probably recall one of the most famous quotes: “People don’t buy what you do. They buy why you do it.” People don’t connect to a company’s products or services. They buy into the reasons why these companies exist—the idea that a company exists for something larger than themselves.
In the first of our three-part series on brand portfolio strategy and architecture within M&A, we discussed the critical role of the corporate brand in M&A endeavors. In the second part, we focused on brand portfolio strategy at the product/service level, post-M&A. In this post, we’ll examine how to successfully transition to a new brand portfolio and architecture, post-merger.