If the goal of marketing now is to provide the best possible experience to consumers, it follows that marketing efforts should be measured not by profits or other financial values, but by purpose and innovation.
"Innovation, which creates the greatest impact and truly changes lives, will be understood as the real mark of exceptional experiences," Brian Whipple, CEO of Accenture Interactive, wrote in an article for Fast Company.
Mr. Whipple cited recent surveys showing that consumers are most drawn to organizations that are aligned with some kind of broader purpose, demonstrating that doing so is no longer merely "a superficial consideration for companies, but should in fact be understood as a necessary and fundamental component of a brand's fabric."
The push to align with purpose and social values should come from the executive level, who also need to lead the charge with "purpose-led innovation." Mr. Whipple defined this form of innovation as "creativity that changes lives, goes beyond the current depth of creation and provides meaningful change."
Ultimately, innovating to align with a broader purpose will result in deeper and stronger relationships with consumers — and is crucial for organizations' survival as consumers seek increased value alignment with companies they patronize. "What's next exists only at the intersection of purpose and innovation: meaningful work that truly changes lives for the better," Mr. Whipple wrote.