Purpose beyond profit

As a brand strategist, I've always been careful not to be a man with a hammer who sees every problem as a nail. But in today's world, it is clear to me that as a company, you're either a brand —with purpose— or yet another commodity.

In short, if your answer to the question « why does your company exist? » is « to turn a profit », you're most probably a commodity. You're amongst the businesses whose primary strategies to generate sales are discounts, promotions or shouting louder than the next guy.

But guess what, people don't need more noise. They need meaning, and that's where purpose-led brands come in.

From commodity to brand

« Oh, so you're a shoe company. »

Being remembered only for your product is a dreadful label for most businesses, because it means you're forgettable... a commodity. You're probably, just another company stuck in the endless cycle of discounts, ads, discounts, ads... Sound familiar?

Let me illustrate what I mean. Picture two shoe companies: Footflex and Soulsole.

Footflex's goal is to sell as many shoes as possible. And their strategy to do so is always to cut prices, push promotions and run ads. The thing is, people only show up when there's a discount. (And let's be honest, there's always a discount.)

Then there's Soulsole. They make shoes too, but here's where it gets interesting: for every pair sold, they give a pair to a child in need. A company like this stands out because they're not just selling us shoes. They're selling us a chance to make a difference. For most people, buying a pair of Soulsoles becomes a purposeful act, a way to contribute to something bigger.

Now, which company would you rather buy from? I believe most readers would say the latter.

Well, TOMS Shoes bet their entire business on you answering Soulsole. In 2006, they launched with this exact business model —and it worked. They proved that customers would happily pay full price when they knew their purchase made a real difference. (They've since evolved to donating $1 for every $3 they make, but the principle remains the same.)

A filter for making better decisions

You see, having a purpose (or vision, narrative, reason for being... however you call it) helps companies make better choices. It's like having a compass that always points the right way.

This makes every decision easier, from where to source materials and how to treat workers, to where to invest and whom to hire. It ensures that everything is aligned with what matters most: building that collective vision.

Take Glossier, for instance. They're not just selling beauty products (read: they are not a commodity). They've built a brand around empowering people to express their natural beauty. Their mission to help people feel confident from the inside out speaks directly to an audience that values individuality and authenticity.

Glossier disrupted the beauty industry's one-sided dialogue —where brands dictated trends to consumers— by developing products with their community and embracing a content strategy focused on real people rather than celebrity endorsements. In 2023, they invested over $1.4M (or £1.1M) through their Glossier Grant programme to support Black entrepreneurs in beauty across the US and UK. 

That's purpose in action: putting your money where your mouth is.

When you know what you stand for, your choices become evident and strategic. There's no need to flip-flop between what the competition is doing or what's trendy. Instead, you're driven by something much more meaningful.

And the best part? People notice. They're drawn to brands that stand for something bigger than profit alone.

Because purpose drives profit

Let's look at another real-world example: Patagonia.

Yes, they sell jackets (and other outdoor gear) and make a hefty profit doing so (we're talking an estimated $100M annually), but they also stand for something much bigger—saving the planet.

Their purpose is clear: « We're in business to save our home planet. » This isn't eco-friendly marketing, nor corporate speak. It's their north star. They know their brand is more than their logo or tagline. It's a vision sewn into every stitch, every campaign, and every decision they make.

When was the last time you saw Patagonia run a desperate end-of-season sale? That's right, you haven't. Because people feel they don't just buy a jacket. They buy into a shared value system, and they happily pay full price. That's the magic of purpose-led brands: people will choose them, even if they're not the cheapest option.

You see, customers are human beings before anything else. We buy into purposes, stories, and meanings that go beyond the transaction. When you're only in it for profit, you're disposable. A brand without purpose is just another commodity chasing the next sale.

And in today's noisy market, being a commodity is a one-way ticket to irrelevance.

Playing the long game

Now, I’m not saying purpose should be regarded as the be-all and end-all of business. After all, you need profit to keep the doors open. But if profit keeps the lights on, purpose illuminates the right path forward. It’s why you’re in business beyond just making money.

While many companies are stuck in a race to the bottom, relying on lower prices or non-stop promotions to keep customers engaged, the ones that thrive are led by purpose and are making decisions that reflect a commitment to something meaningful.

In his book Scramble, Marty Neumeier writes: « The purpose of branding is to get more people to buy more things for more years at a higher price. »

Patagonia, Glossier, TOMS... these brands prove that businesses with purpose not only stand out, but have customers who buy at full price. Most of all, they don't need to rely on constant sales tactics because their customers believe in what they stand for.

So, if your company's purpose starts and ends with making money, you're playing a short game and you're likely to end up a commodity. But if your company aligns with something bigger —a brand— that speaks to people on a deeper level, you're building for the long term. Financial success becomes a natural byproduct of consistently and relentlessly building upon your vision and staying true to your purpose.

Purpose isn't just good for the soul, it's good for business.