It is clear that for brands to survive and thrive in todays consumer space; displaying relevance and creating meaningful engagements with consumers has never been more imperative.
Overwhelming weights of research shows that millennial and Gen Z consumers will only buy into brands that have a strong brand purpose and cause for good at the heart of everything they do.
The talk by the CEO Gaelle Loiseau from The Shared Value Project in Hong Kong gave valuable insight into how businesses can create awareness, relevance and profit by developing a brand purpose that delivers a positive societal impact. Through defining a relevant brand purpose that is true to the core of the brand and one that has a positive societal impact, a business can access and target new markets, reshape their products, reimagine supply chains and collaborate with other brands and businesses to enhance their brand value and their bottom lines.
It was clear from the fireside chat with Vincci Hui (pictured, and video below) from New World Developments, that the organization builds their business around creating shared value for consumers and society. This is not just a CSR side project, but something that is at the core of every commercial venture they undertake.
Having the opportunity to talk, discuss and role play scenarios with the very best and brightest marketers in Hong Kong on these topics was thought-provoking and inspiring.