Big Shock: Buyer behaviour has changed – now Purpose is critical to growth now

The old world – standard launch of a new product or services 

1. Find problems people dream of solving (if a product or service doesn’t solve any problem, people don’t need it)
2.  Understand everything about your target audience and competitors – market research. 
3. Analyse your target audience and your competitors.
4. Create a positioning and differentiation that sells – your WHY. 
5. Test demand with a Wait List or Early Bird offer. 
6. Warm up your audience with expert content.
7. Leverage user feedback to supercharge your launch.
8. Check that your product, services, and landing page are ready for the big launch with beta tests. 
9. Make some noise by launching your product everywhere. 
10. Get PR – mass news articles – with potentially millions of views – delivering a lift to credibility, trust and authority, 
11. Official launch – your product to get new sales every day, 

The new world

“For businesses, the game is changing. Buyers used to place value on the intersection of price and quality, but now increasingly, they are looking for products that can do good.” – Simon Griffiths -CEO at Who Gives A Crap.

• Product: Toilet Roll,
• Purpose: To help build toilets and improve sanitation in the developing world,
• Business model: DTC,
• Purpose model: 1 for one gifting,
• The learnings from – Who Gives A Crap? (WGAC)

1. It doesn’t matter what your product is – Purpose is critical to growth. 
2. Any business can choose to have a Purpose, but when it’s relevant to your product or service in some way, it has the most credibility and positive impact on revenue. 

WGAC – proves the profound power of a clear and credible commitment to Purpose: not only will it benefit the communities you’re helping thrive, but so will your business. 

Who Gives a Crap – operates a purpose model in which 50% of profits go to build toilets. Founded in Australia – Who Gives a Crap donates 50% of its profits towards building toilets and improving sanitation in the developing world.

Founders Simon, Jehan and Danny became aware of a significant problem; that 2.4 billion people across the world don’t have access to a toilet – that’s roughly 40% of the global population, meaning that around 289,000 children under five die every year from diseases caused by poor water and sanitation – the world’s number 1 most sustainable toilet paper was born.

Their product ticks three critical purpose boxes: 

1. Suitable for the world (a B-Corp certified for the highest standards of social and environmental impact)
2. Suitable for people (they build toilets for people who need them – save lives) 
3. Good for your bum (free of inks, dyes and scents)

The founder’s decision to prioritise Purpose and impact enabled them to scale rapidly and grow a loyal customer base who have since evangelised their mission – across the world. 

Your marketing changes from talking about your product and services to telling a bigger story about the measurable impact you’re business is creating – you are talking about the solution, not the problem you solve.

Now in the UK

• The fast-growing DTC challenger – has made more than £40m in UK sales over the past 12 months.
• The products include bamboo and recycled toilet paper as double-length rolls and are available in a four-pack and eight-pack. 
• The move is to get into retail bricks and mortar stores -because “the vast majority of consumers aren’t buying their toilet paper online”, said MD Emily Kraftman. “If we want to achieve those really big goals in terms of getting people to shift to a more sustainable choice, then we want to be where our consumers are.”

What is your business’s Purpose – other than to make a profit?

Have you considered how adding Purpose, better differentiation and segmentation from your competitors can profoundly impact your future profitability? 

The following global changes for each social media channel illustrate the changes in people’s viewing habits.

 

YoY Channel Variations:

• Meta (FB + IG)
  • Income down 10%
  • CPM is down by 18.7%
• Google
  • Income is up 17%
  • CPM is up 15.9%
• TikTok
  • Income up 32%
  • CPM is up 12.8%
• YouTube
  • Income is up 2%
  • CPM is down 40.5%
• Microsoft (Bing)
  • Income is up 113%
  • CPM is down 35.9%
• Pinterest
  • Income is up 501%
  • CPM is down 28.3%
• Snap
  • Income is down 56%
  • CPM is up 33.5%

Are you where your ideal future buyers are?

Some further newsletters may interest you. 

Regards 

David