Business Purpose: Your Roadmap to Consistency
By: Lisa Genovese | BottomLine
What is organizational purpose? Well, in a nutshell, If you have four people in a canoe rowing in different directions, you’re going nowhere. It’s a simple but effective analogy that explains why a common goal and purpose is so essential to your organization.
We’ve seen it time and time again when we sit down with prospective clients: they have the “what”, “who”, “where” and “when”, but yet they still haven’t figured out the most important part: “The Why”. Making sure that everyone has the same core values and purpose is not only how you create great company culture, but ultimately that’s how you make an impact on the world. Leaders should be paying attention, because not only does that impact their ecosystem, but it’s what really affects the bottom line.
I started my own business simply because I was seeing the big and “hip” agencies letting their clients down. They were either overpromising and under delivering, or they were doing things that were not in the best interest of the client. Like any entrepreneur, I thought that I could do better, and so I quit my job, convinced my two direct reports to leave with me, and we jumped ship to start BottomLine.
It all came down to homework. Other agencies, marketers and brands weren’t doing the research and diving into the client’s world, and that’s why they were missing the mark. Market research is all about figuring out what makes the customer tick. If you get that wrong, your message is going to fall flat- no matter how creative you get.
To truly understand or build a greater purpose for your business, you need to understand the following:
1: The value you bring to the customer and the pain you eliminate in their lives.
The more impact your brand has on their lives, the more value it will hold, and the more likely your brand will become addictive.
2: Remarkability aka what makes you different.
The first thing you want to do is accentuate the factors that make you truly noteworthy. What is so amazing about your product or service that makes the decision for the customer a no-brainer?
3: Brand Attachment
Brand attachment is the emotional connection between the customer and your brand (and a far better metric than brand loyalty as it actually correlates to sales/revenue). Brand attachment drives your customers to not only buy your product, but to advocate for you in their personal ecosystems.
4: The emotional quality your brand evokes for a customer
90% of our buying decisions are emotionally made, so ensuring your business has an emotional quality to it makes sense. According to a study done by IPA Data Bank, businesses who market with emotional content are twice as effective as ones that use rational or logically-based marketing.
5: Immersive experience
Great brands are a constant part of their customer’s lives and become habit forming, like the iPhone. The biggest brands on earth either break old habits, or start new ones. What habit do you want to build?
6: What you do for the customer
Sounds simple enough, but you’d be surprised how often a business owner has a tough time telling us what they actually do or accomplish for their customers. Are you solving a problem? Are you entertaining them? It’s the last and most important thing for a business to define.
If those six points are not shining through, customers will move on. So while most agencies are focusing on hot trends, buzzwords, and quick and easy fixes, we do our best to focus on what we do best: helping challenger businesses fight above the noise.
Ever wonder how the biggest brands on earth got to where they are today? They consistently nail those six points.
Keeping strong goals and mindsets within your culture makes a difference on the bottom line. According to this study from TruPath, there’s 2.5 times the revenue for businesses with engaged employees, which means if your business goals are clearly outlined to everyone, you’re going to forge ahead with power.
The BottomLine journey hasn’t been without a few bumps in the road, but I am fiercely proud of what our team has accomplished and what we have been able to help our clients to achieve. I chalk our success up to BottomLine’s greater purpose, which is to help challenger brands evolve and make an impact on the world around them.
President at BottomLine
Lisa Genovese is the President at BottomLine, a firm specializing in helping challenger brands evolve their business and create impact on the world around them. Evolving a business requires more than a surface-level strategy and that is why the team at BottomLine is hyper focused on uncovering key insights with their Impact Assessment process and helping their clients see, what others may not. From there Lisa works with her global team to help their clients implement kick-ass marketing and business strategies that are centered on strong market research insights that consistently improve conversion rates, increase sales and profit margins.
Lisa has worked in global markets around the world with clients in many different sectors ranging from small businesses to large multinational brands. Some of her clients include: The Coalition for Safer Alberta Roads, Whipcord, 3D-P, Medlior Health Outcomes Research, PilotsFriend (seen on Dragons Den), Home Depot and Axia Fibernet.
Lisa has a bachelor’s degree in English from The University of Athabasca, her CDMP in digital marketing, and is a certified Google partner. When Lisa isn’t helping her clients or her team at BottomLine she can be found traveling, skiing, hiking or enjoying the great outdoors with her husband Corey and their furchild Mickey.