On our recent lets talk the business of marketing event the topic of using your personal why was discussed by the panel. Well, when I say discussed its fair to say it was debated and debated well!
Some of the panel felt it was important, some felt it wasn’t. There was also a view that peoples why is now over played within the World of sales and marketing in general an also that sometimes people share too much when sharing their why.
Discussions like this are one of the reason we started these events. I think it’s really important the good discussion are had and people can hear the views of experts in the field around topics that may be causing them challenges in their own business.
I had some sympathy will all the views given however for me sharing you “why” appropriately is a key element of marketing. Yes there will be people who couldn’t care less thats life we are all different and there is no on size fits all. However for me when you share your why a whole process takes place that really supports you as the business owner.
Firstly spending time figuring out why you do what you do gives you an understanding of what drives you to be in business in the first place. Why is this important? It keeps you on track when times get tough, it helps you stay engaged and excited in your business, it drives the business forward at a much quicker pace than it being just something that you do and gives you a sense of purpose and meaning and its the foundation that all your marketing is built on.
Is your why only important if you’re a small business? Does it matter as a bigger business? Your why matters whatever size your business is. All big businesses started small so having a clear why and purpose at the start will help drive growth and performance within the business quicker. Everybody knows why they are there and why the business exists. They know how things should be done which also increases performance and profitability.
One area I think a why is really important is in referral marketing.If we are going to ask someone to refer us to a potential client we have to be able to give them something more than “I think you should work with Steve as he’s great!” Knowing someones real why and then being able to identify who they want to make a difference for puts you on the front foot from a referral opportunity perspective. Once you know why someone does what they do and who they want to make that difference for it makes it much easier to spot opportunities for great referral introductions.
A recent global survey by Accenture Strategy’s of nearly 30,000 consumers in 35 countries discovered that more than 50% in the UK want companies to take a stand on issues they care about. Sustainability, transparency and fair employment practices being prominent as causes. The younger consumers are driving this trend.
It also found that companies that don’t align with customer beliefs are at a disadvantage. More than half (53%) of consumers who are disappointed by a brand’s words or actions on a social issue complain about it. In the UK, 37 percent of consumers walk away from the brand in frustration and a 25% won’t ever go back. Think about some of the behaviours attributed to big brands during this current pandemic and the outrage felt by the public when these behaviours didn’t match peoples idea of “positive” values driven behaviour.
I think it’s becoming clearer that the younger consumer is definitely more interested in aligning with business and brands it can relate to and the brands that struggle to clearly articulate their why and whats important to them will get left behind. This applies whether you are a small business or a larger brand. Knowing your why and leading with it in your marketing I believe can only be of benefit for you and your business.