Purpose is top of mind with many executives and for good reasons. The most important of which is — purpose matters to employees and customers more than ever before. In fact, what your company stands for can determine how well your company attracts the best possible talent and secures more loyal customers. The prioritization of purpose has been influenced significantly by millennials who now make up a large percentage of the workforce and control a sizable amount of buying power.
Did you know that this year alone, millennials hold $1.4 trillion of spending power in their hands? And that by 2025, they will make up 75 percent of the workforce? So, the question you should be asking is:
What is your company doing to engage this large and growing percentage of your employee population and total available market?
Well, according to Gallup Research, you better start by having a good story to share because purpose is one of the things that millennials care most about when choosing an employer and a brand. Does your company have a clearly defined purpose story? If so, how are you bringing that story to life? According to PwC, the best way to connect buyers and employees to your purpose — is through real, relevant customer stories. Stories that illustrate how your company is making a meaningful difference in the world and the lives of your customers.
So the first thing you need to do is clearly define and document your company’s higher purpose. Then you need to wrap compelling customer stories around that purpose to bring it to life throughout the employee and customer experience. What are the best ways to do this? PwC research shows the best way to share these purpose stories is through social media (37%), your corporate website (31%) and leadership messages (24%).
At OnMessage and StoryDimensions, we help leadership teams craft corporate purpose stories and then capture and share real customer experience stories that bring their company’s purpose to life. If you would like to learn more about our capabilities in these areas, request a briefing with our experts today.
