Most B2B professionals say it is important for their brand to have a clear purpose, yet few have embedded a purpose in their business, according to research from the Association of National Advertisers (ANA), Carol Cone On Purpose, and The Harris Poll.
The report was based on data from a survey conducted in 2019 among 259 B2B professionals with a job title of director or higher.
Some 86% of respondents say it is important for a B2B business to clearly articulate why it exists.
However, only 24% of respondents say purpose is activated across their business, from culture and innovation to operations and engagement with society.
Respondents say the biggest barrier to activating a purpose for their B2B brand is that purpose engagement feels more like a PR exercise than an authentic commitment (56% agree).
Moreover, fully 51% agree that purpose does not play a considerable role in their competitive set.
Some 93% of respondents say their B2B brand is somewhere on the “purpose journey,” with 42% saying they are in the early stages.
More than half (57%) of respondents say their B2B brand is more focused on purpose now than it was three years earlier.
About the research: The report was based on data from a survey conducted in 2019 among 259 B2B professionals with a job title of director or higher.