Purpose doesn’t build brands – it makes them: ME Bank and Dairy Australia on how transparency and ‘no bullshit’ drives growth, cuts risk
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Show Notes
Brands with “purpose” in their DNA face the biggest fallout when they make a mistake: think Patagonia and Thank You. So where does that leave everyone else? New research from The Guardian finds purpose drives growth and keeps customers, and demand is climbing. The dairy industry is a major emitter – belching cows emit a shedload of methane – but it’s working to clean up what it can. Dairy Australia is taking an honest approach and targets “change-makers” in its comms – the 50 to 60 per cent of people who are socially conscious, who vote with their wallets and live their values. “The risk is greater if we do nothing and stay quiet,” says Amber Beaumont, Dairy Australia’s Communications Strategy Advisor. Mason Rook, The Guardian’s Commercial Director, says audiences can spot tokenistic gestures, so brands must walk the talk – or get called out. But ME Bank’s Head of Purpose and Customer Advocate, Scott Dare, says a no amount of purpose will cut it if the product is crap: “No-one will be interested.”
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