Consumers increasingly expect brands to have not just functional benefits but also a social purpose. Brands increasingly use a social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs.
Innovational social purpose strategies are those that dictate that create, communicate, and deliver value in order to influence target audience behaviours – with the added dimension that such behaviour should benefit society.
The Social Purpose Innovator Hall of Fame ® is an award open to those individuals who have had social purpose from the inception of their business model, rather than running more established companies which are now realising that being seen as socially and environmentally conscious can boost profitability as it draws new customers that otherwise may not have been interested in its products or services.