The Power of Why: Connecting Values and Mission with Customer Engagement

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Sep 06, 2023
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The Power of Why: Connecting Values and Mission with Customer Engagement
In the world of content marketing, there is an overwhelming amount of information being produced. However, as Doug Kessler of Velocity Partners puts it, most of it is simply crap. So how can businesses cut through the noise and create meaningful content that resonates with their audience? The answer lies in asking the right questions, particularly the question of "why."
When we talk about "why," we are referring to the core belief, purpose, and mission of an organization. Simon Sinek, in his popular TED Talk, explains that people don't buy what you do, they buy why you do it. This is a powerful concept that can have a significant impact on customer engagement and loyalty.
One example of a company that understands the power of "why" is Patagonia. On their website, they prominently display sentiments such as passion, accomplishment, vision, culture, and environment. They invite their audience to take action and donate. By clearly and sincerely communicating their values and mission, Patagonia attracts people who share their beliefs and gain their trust over time.
But it's not enough for businesses to understand their own "why." They must also understand their audience and how their values align. By identifying the common ground between their "why" and their customers' "why," businesses can create a strong connection that goes beyond the transactional.
Incorporating "why" into communication is essential for businesses looking to engage with their audience on a deeper level. It's not just about selling a product or service; it's about conveying a purpose and a belief that resonates with people. By consistently communicating their "why" over time, businesses can build trust and loyalty with their customers.
Now, let's shift gears and talk about the economic policies of former Japanese Prime Minister Shinzo Abe, commonly known as Abenomics. Despite his initial popularity and promises of revitalizing Japan's economy, Abe's tenure left the country worse off than he found it.
Abe's failure is so widely recognized that current Prime Minister Fumio Kishida is now presenting his "new capitalism" agenda as a corrective measure to Abenomics. One of the main criticisms of Abenomics is the lack of improvement in living standards. Under Abe's leadership, real wages per hour for regular workers actually fell by 4 percent from 2012 to 2018.
Abe's response to this decline was to futilely ask companies to increase wages voluntarily. However, he could have taken more concrete actions, such as enforcing equal pay laws for men and women as well as for regular and non-regular workers. By mandating the Labor Ministry to investigate and prosecute violations of these laws, Abe could have made a real difference in improving living standards.
Furthermore, Abe continued the policy of shifting national income from people to corporations by reducing the top income tax rate for companies while increasing the consumption tax. This approach, often referred to as "trickle-down economics," assumes that corporations will use the tax cuts to invest more and raise wages. However, under Abe's leadership, 75 percent of the growth in female employment was in low-paying, dead-end jobs.
Another issue with Abenomics was the way inflation was handled. Instead of benefiting Japanese consumers, inflation only served to shift income from them to foreign producers and increase profits for multinational companies in Japan. This further contributed to the decline in living standards.
It's clear that Abenomics had the potential to help Japan if Abe had followed through on his promise of implementing structural economic reforms. However, he chose not to take on powerful interests and instead focused on conquering deflation as a path to growth. This approach proved to be ineffective and did not address the underlying issues that were holding back the economy.
In conclusion, the power of "why" extends beyond just marketing and into the realm of economic policies. Understanding and communicating the values and mission of an organization is crucial for building trust and engagement with customers. Similarly, implementing effective economic policies requires a deep understanding of the root causes of economic issues and a willingness to take bold actions to address them.
Actionable Advice:
- 1. Clearly define your organization's values and mission. Understand why you exist and why your work matters. Communicate this effectively to your audience to attract those who share your beliefs.
- 2. Take concrete actions to improve the lives of your employees and customers. Enforce equal pay laws, invest in training and development, and prioritize fair treatment and opportunities for all.
- 3. Don't shy away from challenging the status quo. Economic reform requires bold actions that may ruffle feathers. Be willing to step on powerful toes and prioritize the well-being of the people over corporate interests.
By incorporating these actionable advice and embracing the power of "why," businesses and policymakers can create a meaningful impact and drive positive change in their respective fields.
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