"Brand Purpose in Financial Marketing" was the topic for the October 23rd 'cocktails with content' reception hosted by McGuffin Creative Group for FCS Chicago. Chris Sculles, president and chief creative officer for McGuffin, moderated the panel, which featured:
- Tara Giuliano, Nuveen
- Lisa Leiter, Edelman
- Maria Ferrante-Schepis, Maddock Douglas
Here are a few take-aways from the discussion, as reported by FCS Chicago committee member Laura Davies:
Brand purpose can be called a company’s “why” or “superpower.” It is what they stand for — beyond profit and beyond philanthropy for its own sake.
Why should financial services marketers focus on purpose? Because brand purpose drives value. Purpose-driven companies are growing faster and have higher employee satisfaction ratings than those that don’t. Once you know your purpose, that will drive brand strategy — and everything else.
One challenge for marketers is identifying and staying faithful to brand purpose. A company founder may have had a strong sense of purpose at the outset, but that can get diluted as companies age, or as a result of acquisitions, as multiple brand purposes mix together.
How can you re(discover) your brand purpose? Get curious, ask questions, observe what employees do and care about. Test your ideas. And measure. Set benchmarks to define what you’ll take a stand about, and how you’ll invest in other organizations that align with your purpose.
When you want to grow, leadership needs to be bold, and willing to take a stand on issues. That entails some risk, but by identifying your audience, and what you’re trying to do for them, you can gain clarity about where it makes sense to stick your neck out.