Welcome To The Purpose-Based Digital Economy

Winning brands will create meaningful customer experiences. By Brian Whipple

- Brian Whipple

This year, as I was walking the floor at CES, I was struck by many of the innovations that I encountered. Toasters that tweet. Smart fridges that talk to your TV. Shoes that vacuum. While some of these technologies are amusing, and others are interesting, it gave me pause to think—is it meaningful enough?

Innovation has spurred many dramatic advances and there’s a lot to be excited about. But, even as a consumer, I’m dying to see more ground-breaking change. I know I’m not alone. We don’t need more noise or extra gadgets. What we do need, however, is a refinement of our relationship with technology and to reorient around purpose.

It seems to me that now is the time to stop and ask ourselves: Has this wave of digital transformation given rise to experiences that actually improve lives? How can we ensure that we’re not just innovating for innovation’s sake, but creating experiences that make lives better, more efficient and more meaningful?

Brand purpose beyond CSR

The Association of National Advertisers has identified “brand purpose” as one of the key CMO actions required to drive growth. It defines brand purpose as “the intersection of a brand’s core consumer strategy with societal well-being” and states that it is “critical to maintaining and enhancing brand relevancy.”