Not just another article about purpose.

16th Aug 2022 2 mins read

“Purpose” is not just something you check off a CSR to-do list. 

I’m going to say something that feels taboo to write, but it doesn’t have to eat into your bottom line either. Sometimes it can feel as though writing cheques to organisations and spending money in the community, building, sponsoring, etc, is the only way to have a business with purpose. Of course, all of these contributions are really valuable and make a big difference to local communities and organisations, but when starting your company from scratch, it can feel like this type of impact is out of reach.  

I firmly believe that when purpose is not just an afterthought, and is actually engrained in how a business operates, it contributes to the growth of the business. Companies that fail to take this approach will struggle to keep up with those who innovate. As business owners, it is not only our duty to incorporate purpose, but also our key to success. 

Where Business Growth Marries Purpose

There are so many examples all around us, where businesses have made a positive change to how they operate, and it concurrently increases their revenue. Don’t believe me? Here’s a few examples. 

Case Study #1: Sustainable Refill Products

We see a lot of Beauty, Personal Care and Home Care brands innovating in the reusable/refillable space, where consumers purchase the product in its reusable container, and then once it’s empty, they just buy a refill pack, or top up their shampoo/soap etc at a refill station (they look like drink dispensers)! It reduces waste produced by consumers, reduces the volume of goods in transport, and of course, encourages repeat purchases by consumers. This is where entrepreneurship and intrapreneurship can really move the needle when it comes to both purpose, and business growth. Touching on a previous article I wrote about private label versus branded products, this can also be a way of making branded products more affordable for consumers.

Case Study #2: Water-Free Cosmetics

Water has always played a huge role in the beauty industry, and is often the top-listed ingredient in products. With ecological concerns front-and-centre, consumers are more conscious of water waste and looking for alternatives. Not only this, but from a product quality perspective, water dilutes down active ingredients in skincare and haircare. These issues left ample room for innovations in a massive industry, with innovations in this space including dry shampoo sheets, shampoo powders, toothpaste tablets, and more. These products come with the incredible purpose of reducing water waste, reducing packaging waste, and reducing the volume of goods in transit - all while actually providing real value to consumers, and even improving the effectiveness of the products in some cases. When innovation and purpose meet to form something better for people and planet, it’s a thing of beauty (excuse the pun).

Case Study #3: Purposeful Collaboration

Sometimes, collaborations just make sense. 

For example, M&S partnered with Breast Cancer Now, raising millions for the charity through the sale of post-surgery lingerie and swimwear. 

Gilette and Movember. Now, that’s just a marketing match made in heaven, for both parties. 

Taking inspiration from some of these examples, and putting our own twist on it, at ProMotion Rewards, we spoke to our users throughout the development of our product. We knew from the start that our purpose to have a positive impact on consumers globally had to be ingrained in our product and how people use it. 

Well, first of all, the essence of what we do is married with our purpose - to put the power into the hands of the consumer. They choose to submit their data and directly receive value back. Unlike social media platforms where the user is the product and their “reward” is the use of their platform, we tie every piece of information they choose to submit, to real value, and real rewards. This is the shift towards zero-party data that has been long overdue. Zero-party data is that which a customer intentionally and proactively shares with a brand, and we are all about that.

We wanted to go one step further though and find ways of spreading our impact, reaching consumers that may not otherwise find us. That’s where we thought of charities - small, medium, and large organisations that can help spread our message while bringing direct value back to the causes they are helping. 

When users upload their shopping receipts, they receive points (bonus points with brand partners), and these points can be redeemed for vouchers to online and physical stores of their choice, from Amazon to M&S, and more. This is enough to motivate lots of people to actively engage with the app. When we introduced the idea of being able to use your points as a way of donating to charities, this really made it click for certain cohorts of people. It made so much sense for them to use it, knowing that they could then donate those points to their kid’s school so that they could get more computers or more books in the library. Or that they could donate to a cancer charity that had helped a family member during a difficult time. Taking 5 seconds to scan in a receipt so that their cause of choice could benefit just makes sense. 

We provide the platform for consumers to create value from their shopping insights. Then when it comes to giving back to the community? All due credit goes to our #ProMotRs šŸ„³

Operating a business with purpose can truly create momentum, right from the start, and ensure the longevity of the business. People are bombarded with choices in every industry - businesses that are doing good and creating value at the same time are the ones that go the distance!

Until next time, 

Lauren
 

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