July 14, 2023
A new ROI has emerged in today’s rapidly evolving market: Return on Belief (ROB). Numerous studies have shown that belief-led brands consistently achieve higher growth rates in all aspects of their business. This new ROI considers that a company’s belief system can drive profits, recognition, trust, innovation, and social impact. In this article, we have explored how a strong belief system can drive ROB for businesses. By prioritizing belief and meaning above all else, belief-led brands can stand out in a crowded marketplace, earn the loyalty of customers and employees, and achieve higher growth rates than their competitors. A belief-led brand can also contribute to the greater good, positively impacting society and the environment.
Return on Investment (ROI) has long been how businesses measure success. But a new ROI has emerged in today’s rapidly evolving market: Return on Belief (ROB). Numerous studies have shown that belief-led brands consistently achieve higher growth rates in all aspects of their business. This new ROI considers that a company’s belief system can drive profits, recognition, trust, innovation, and social impact. This article will explore how a strong belief system can drive ROB for businesses.
DRIVE STRONGER RECOGNITION
A belief-led brand has a clear and consistent message that resonates with customers. By prioritizing belief and meaning above all, these brands can stand out in a crowded marketplace and create a lasting impression. This strong recognition can increase customer loyalty and word-of-mouth referrals, driving growth and profitability.
BUILD DEEPER BRAND TRUST
Belief-led brands are transparent about their values and beliefs, which creates trust with customers. By building a deeper connection with consumers based on shared values, these brands can establish themselves as leaders in their industry and earn the loyalty of their customers. This trust can also help to weather negative publicity or crises, as customers are more likely to forgive missteps from a brand they believe in.
GROW 4X BIGGER THAN YOUR COMPETITORS
Studies have shown that belief-led brands grow four times faster than their competitors. By focusing on a central belief and building their entire business model around it, these brands are able to align all aspects of their company towards a common goal. This strategic focus and alignment can lead to more efficient operations, greater innovation, and, ultimately, faster growth.
DEFEND AGAINST CATEGORY DISRUPTORS
Belief-led brands have a clear identity that sets them apart from competitors. This identity can help to defend against category disruptors, who may enter the market with a new approach or technology. By having a strong belief system and loyal customer base, belief-led brands are more resilient to outside disruptions and can adapt to changing market conditions.
HAVE STRONGER STRATEGIC FOCUS AND ALIGNMENT
A belief-led brand has a clear vision and purpose that guides all decisions and actions. This strategic focus and alignment can help companies make better decisions and avoid distractions or missteps. By having a shared belief system, everyone in the company is working towards the same goals, creating a more cohesive and effective team.
DRIVE GROWTH BY CHAMPIONING INNOVATION
Belief-led brands are more likely to champion innovation, as they are not bound by traditional ways of thinking or doing things. By fostering a culture of innovation, these brands can stay ahead of the curve and continuously evolve to meet the needs of their customers. This focus on innovation can lead to new products, services, and business models, driving growth and profitability.
UNITE YOUR WORKFORCE
A belief-led brand can unite its workforce around a shared purpose and vision. Employees are more likely to feel invested in their work and motivated to do their best by having a belief system central to the company’s culture. This sense of unity can lead to a more engaged and productive workforce, driving growth and profitability.
SPIKE PRODUCTIVITY AND PERFORMANCE
Belief-led brands can inspire employees to do their best work and achieve their full potential. These brands create a more fulfilling and rewarding work environment by prioritizing meaning and purpose. This can lead to higher levels of productivity and performance, driving growth and profitability.
CULTIVATE AN IMPASSIONED TRIBE
Belief-led brands can cultivate a passionate and loyal following of customers and employees. By creating a shared belief system, these brands can inspire community and belonging among their followers. This impassioned tribe can become brand advocates, spreading the message and values of the brand to others and contributing to the growth of the business.
DELIVER GREATER SOCIAL GOOD
Belief-led brands are often focused on positively impacting the world beyond just profits. By prioritizing social and environmental responsibility, these brands can contribute to the greater good and earn the respect and loyalty of customers who share those values. This can also attract talent passionate about making a difference and who want to work for a company that shares their values. Delivering greater social good can also help to build a positive reputation and protect against negative publicity or crises.
In conclusion, Return on Belief (ROB) is a new ROI that considers the power of a company’s belief system to drive growth, recognition, trust, innovation, and social impact. By prioritizing belief and meaning above all else, belief-led brands can stand out in a crowded marketplace, earn the loyalty of customers and employees, and achieve higher growth rates than their competitors. A belief-led brand can also contribute to the greater good, positively impacting society and the environment.
About the author(s)
Executive Director Strategic Impact & Growth
Lenya leads business development at BLVR and is well-versed in partnering with clients to drive long-term value for their organizations. She honed her craft working on global brands like Procter & Gamble, Anheuser-Busch, Sony, and Canon at leading agencies, including Saatchi & Saatchi, Leo Burnett, and BASIC. A master of purpose-led creativity, her work has been honored by the Effie Awards and the prestigious Cannes Lion Festival.