Many of us feel that we’re straddling two worlds- the old paradigm dictating that profit and growth supersedes all else, and a new paradigm that means approaching business in a whole new way.

A new, more evolved world invites a new era in business, an era that calls forth brave brands and asks them to put authenticity and integrity at the heart of everything they do.

There is a groundswell of conscious consumers emerging that carefully consider the impact of their purchases. They are assessing numerous aspects of the business before committing to buy, such as how and where a product is manufactured, and by whom in what conditions; what the environmental impact of manufacturing and transport is; if the business is purpose-driven and working towards a cause larger than profit generation.

Conscious consumers demand conscious business practices.

Conscious businesses operate in harmony with all stakeholders, including employees, customers, shareholders, and the community. They are focused on creating positive impacts on the world and promoting ethical and responsible business practices, rather than solely focusing on financial profits. They are aware of the interconnectedness of all aspects of their operations, including how their decisions impact both people and the environment. Values such as transparency, social responsibility, environmental sustainability, and employee well-being are prioritised.

Conscious businesses are also generally purpose-driven as they seek to fulfil a specific mission beyond generating profits. Their endeavours are focused on creating a legacy of positive change, rather than immediate financial gain. These businesses typically have a clearly defined mission statement that outlines their values and objectives, and they work towards achieving their goals by integrating social and environmental considerations into their business operations. They may do this by implementing sustainable practices, supporting social causes or initiatives, or by providing products or services that meet specific needs or values.

A deep desire to make a difference in the world is what motivates purpose-driven businesses. They tend to attract employees, customers, and investors who share similar values and beliefs. By focusing on their purpose, these businesses can differentiate themselves from competitors and build stronger relationships with stakeholders who value their impact beyond financial performance.

Let me be clear, whilst purpose-driven businesses will continue to rise, this is not a ‘trend’ to jump on mendaciously. Just as consumers can spot green-washing, they can also discern when a company is being insincere about their motives. The consumer of the future is judicious and perceptive.

“Purpose is more than companies simply responding to issues of the day. It’s about having a genuine and meaningful commitment to important principles that consumers care about – such as health and wellbeing, natural ingredients, environmental sustainability and family connections – which inform every business decision,” says Bill Theofilou, senior managing director of Accenture Strategy. “Many companies have neglected to convey purpose due to complacency, lethargy or the fear of polarising people, which has allowed smaller players to rise.”

Their purpose doesn’t hide in a mission statement on their About page- it is a thread of truth that weaves through and binds all aspects of the business.

These smaller players are not only communicating their values, they are living and breathing them. Their staff embody them. Their purpose doesn’t hide in a mission statement on their About page- it is a thread of truth that weaves through and binds all aspects of the business. Moreover, these smaller players aren’t afraid of polarising people, because they understand that those customers who align with their purpose are more likely to spend more, remain loyal, and advocate for the brand.

“In this era of radical transparency, consumers are voicing their opinions, values and beliefs, scrutinising the actions of organisations and their leadership, and holding them accountable. They can see through inauthenticity and won’t tolerate it,” said Kevin Quiring, managing director, Accenture Strategy. “Consumers’ voices can change the financial trajectory of companies. They are more than buyers — they are active stakeholders who are investing their time and attention and want to feel a sense of shared purpose. The winners in this era will not be passive bystanders.”

What this new era in business is calling for is intentionality, action and accountability. The days of mindless consumerism will soon be behind us, and those businesses that do not transition will come under greater scrutiny. Building trust and meaningful relationships with consumers should be a goal for any product or service provider moving forward. Businesses need to move away from a purely transactional approach to their customers and aim to understand their needs, values, and preferences and tailor their products and services accordingly.

How can businesses start to cultivate stronger relationships with their customers and clients?

Be transparent: Share your processes with your customers and answer their questions honestly.

Be real: Allow your customers to talk to real people. Automation has its place, but when it comes to customer service, people want to deal with people.

Be open: Provide a platform for your customers to be heard. Engage them and involve them in your story.

Be receptive: Take customer feedback on board and share what steps you’re taking to better your operations, products and services.

Be innovative: Work continuously to improve your products and services.

Be vulnerable: Made a mistake? Own it. Show your customers that humans are behind the business, and as such, mistakes can happen. Tell them what you’ll do to prevent future errors.

Be clear: Share your purpose and values with confidence, remind stakeholders what you’re working towards, and communicate why it’s important to you.

Be proactive: Take initiative to create community around your brand and demonstrate that you’re following through on your promises. Build strong leadership internally and create a healthy work environment that fosters personal and professional growth for employees.

Implementing conscious business practices is much easier when employees are aligned with the brand’s values and mission. Yes, consumer expectations are shifting, but so are employee expectations. Younger generations are looking for more meaningful work. Millennials and Gen Zers, who now make up a significant portion of the workforce, tend to place more emphasis on purpose-driven work and are less likely to work for companies that don’t align with their values.

A study by WeSpire found that Gen-Z is ‘The first generation to prioritise purpose over salary. They read Mission Statements and Values documents to select where they work and want their employer’s values to match their values. They expect consistency and authenticity and will call you out, often publicly, if they don’t see it. They will leave companies they believe are hiding or putting too much spin on bad news, ignoring their negative environmental or social impacts, or that have toxic workplace cultures.’

This data should only be concerning to businesses who aren’t operating with integrity. For those who are already shifting and adapting, readying themselves for the new era, you can expect your staff to become an incredibly loyal support team that champions your brand and your cause. This is already becoming evident with a LinkedIn study showing that purpose-driven companies had 30% higher levels of employee retention.

Put simply, purpose-driven, conscious businesses are better positioned for long-term success. By prioritising values beyond just profits, they can create a strong foundation of trust and credibility. They tend to make decisions that create long-term value for all stakeholders, rather than just short-term gains for shareholders. As businesses begin to recognise the importance of creating a positive impact on the world, we can expect to see more purpose-driven, conscious businesses emerging and thriving.

Are you a conscious, purpose-driven business? If so, we want to work with you. It is our mission to elevate and empower conscious businesses through strategic branding and design. Talk with us today about how we can collaborate.