Purpose as a brand strategy

In contrast to the “me”-focused millennials, Gen Z is apparently a generation focused on “we” and a greater good. There are reports that a company’s purpose is seen as more important to this generation than the level of pay (see article: https://adage.com/article/opinion/opinion-why-brand-purpose-way-our-gen-z-hearts-and-wallets/2237146). This could have an interesting outcome in overall branding and brand marketing. As companies begin to focus on capturing the hearts - and wallets - of Gen Z, they need to begin thinking about their holistic purpose and reputation for the greater good as a way to attract both employees and customers. And, making these efforts known will become a new form of brand awareness marketing, I believe, becoming crucial to let consumers know the good a company is doing in the world in order to connect with and attract customers. We’re already seeing examples of this, with Amazon pledging to be carbon neutral by 2040 and Amazon CEO, Jeff Bezos, pledging $10M to fight climate change, and I think its a trend we’ll be seeing more of.