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In today’s business landscape, the role of marketing has evolved beyond simply promoting products and services. Companies are increasingly recognising the importance of aligning their marketing efforts with a greater purpose, not only to drive profit but also to build trust and drive long-term success. This article explores the significance of purpose and profit in marketing, highlighting how they can work harmoniously to create a positive impact on both customers and the bottom line.
On the latest episode of Time For a Reset: The Marketing Podcast with Global Leaders, your host, Paul Frampton – Global President at CvE Consultancy, is joined by Aparna Sundaresh, Global VP of Transformation at Unilever and Member of the Supervisory Board at Enviu.
Aparna describes herself as a global citizen and C-Suite executive leader who believes that business can be a force for good. Her career is defined by creation and transformation while driving a commercial edge. She enjoys building brands, driving digital transformation, forging partnerships, and pioneering innovation. She has held C-suite positions at global and legacy brands like Unilever and Lipton.
Traditionally, marketing has been driven by profit-centric strategies that focus solely on maximising financial returns. Aparna expresses her belief in the importance of combining purpose and profit for long-term success and relevance. She explains that a brand’s purpose should be the role that the product and brand can play in people’s lives.
Aparna highlights the shift from consumption-based media to transactional data in retail and marketplaces, which provides more insights for brands. She also highlights the importance of connecting upper-funnel marketing efforts with lower-funnel conversion and the rise of social commerce.
Building Trust Through Purpose
Aparna emphasizes the need for brands to be authentic, consistent, and committed to their purpose. She also highlights the shift towards performance marketing at Unilever in recent years and the importance of investing in long-term purpose for profitability.
A purpose-driven marketing strategy also helps companies differentiate themselves from their competitors. In an increasingly crowded marketplace, consumers are drawn to brands that stand for something beyond profit. By highlighting their purpose, companies can attract like-minded customers who share their values, leading to a more engaged and loyal customer base.
Driving Success Through Profit
While purpose is vital, it is important to note that profit remains a crucial aspect of marketing. Without generating revenue and achieving financial goals, companies cannot sustain their purpose-driven initiatives. Profitability allows companies to invest in research and development, improve product quality, expand operations, and ultimately make a greater impact on society.
Aparna shares how being close to the business side of marketing changed her perception and made her more focused on driving growth. She explains the importance of evidence-based narratives and making smart strategic choices to drive growth. Moreover, profit serves as a measurement of marketing effectiveness. By analysing financial metrics such as return on investment (ROI) and customer lifetime value (CLV), companies can evaluate the success of their marketing campaigns and make data-driven decisions to optimise their strategies.
Balancing Purpose and Profit
Aparna Sundaresh explains that a brand’s purpose should be the role that the product and brand can play in people’s lives, and she gives examples of brands like Dove and Lipton that have clear purposes and how they connect with consumers on an emotional level.
Achieving a balance between purpose and profit is key to driving sustainable success. Companies need to strike a delicate equilibrium where purpose-driven initiatives are not overshadowed by financial goals and vice versa. To achieve this balance, companies should integrate their purpose into all aspects of their marketing strategy.
This includes aligning messaging, product development, customer experience, and corporate social responsibility efforts with their purpose and values. By doing so, companies can create a cohesive brand identity that resonates with consumers and inspires trust.
Aparna explains that while marketing is central to the boardroom conversations at Unilever, there is however a shift towards a more execution-driven approach to marketing. She talks about the importance of capability building and focusing on execution to drive growth at Unilever.
Wrapping Up
In today’s hyper-connected and socially conscious world, purpose and profit are no longer mutually exclusive concepts in marketing. By aligning their purpose with their profit goals, brands can build trust, differentiate themselves from competitors, and drive long-term success.
However, achieving this balance requires a thoughtful and holistic approach that integrates purpose into all aspects of a company’s marketing strategy. By doing so, companies can create a positive impact on society whilst also achieving financial growth.
A Few Words About Aparna
Aparna describes herself as a global citizen and C-Suite executive leader who believes that business can be a force for good. Her career is defined by creation and transformation while driving a commercial edge. She enjoys building brands, driving digital transformation, forging partnerships, and pioneering innovation. She has held C-suite positions at global and legacy brands like Unilever and Lipton.
Join us on Time For a Reset: The Marketing Podcast with Global LeadersTune into the latest episode of Time For a Reset: The Marketing Podcast with Global Leaders, where we sit down with representatives of household brands to uncover the secrets behind driving transformation in today’s rapidly evolving world. From shifting consumer behaviour to the increasing importance of marketing in driving business growth, this podcast delves into the strategies and insights that are shaping the future of marketing.
You can read the full transcript episode here.
