In the past, Jones’s work as a strategist would focus on keeping brands relevant. ‘We were used to asking ‘where’s the opportunity?’ before drawing a map and finding a fitting space in the market.’ Today, he prioritises finding the highest ground for brands: searching for where they can express their values and how they can contribute to society. Jones wants brands to become more purpose-driven and build consumer trust to address ongoing disconnection. Closing the trust gap remains a challenge. Some 79% of B2C leaders in the US believe customers have 'somewhat' or 'very high' trust in their company’s brand, while in reality, only 52% of customers agree (source: Deloitte Digital and Twilio).
Raising trust levels could also drive high revenues. In the US, when asked: ‘Between similar products online, which of the following has driven you to buy the higher priced option?’, nearly half (46%) of consumers said they would spend more money for a brand name they trusted – up from 30% in 2021 (source: Salsify).
Like Maya Angelou’s iconic motto: ‘If you don’t know where you’ve come from, you don’t know where you’re going’, questioning a company’s past, beliefs and values could also strengthen its vision and future status in the industry. Purpose-driven brands capture more market share and grow on average three times faster than their competitors. They also report 30% higher levels of innovation and 40% higher levels of workforce retention (source: Deloitte).
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