TOMS Shoes – a MASTERCLASS on purpose led branding

Having a strong purpose as a business is by far one of the most game changing factors when it comes to standing out from the competition. TOMS shoes demonstrate this in abundance.

Our CEO, Mitch Hahn looks at why TOMS are a great example of how businesses can connect with people by showing that they’re on a mission to do MORE than just ‘making money’. 

Brands with a clear and meaningful purpose, like TOMS shoes have demonstrated that within the Direct To Consumer space, standing for something meaningful can be a key factor in what sets a brand apart from its competitors.  

However, the importance of having a strong purpose in the business to business space is necessarily recognised as much as it should be. When you look at a company like TOMS who entered a highly competitive market with a product that’s essentially just basic canvas shoes... you can’t help but wonder just how they’ve managed to achieve the level of success that they have.  

Besides from the product itself being known for its comfort, the main thing that sets them apart is that they put a really strong emphasis on the ethical approach of their business and the positive social impact that buying their shoes would have.  

TOMS founder, Blake Mycoskie, actually pioneered the one-to-one model, with his promise of giving away one pair of shoes for every pair sold. Today, they give 1/3 of their profits to grassroots good, and since the beginning of TOMS, they have made a positive impact on over 100,000,000 lives. 

The principles around this example can absolutely be related to the business to business world, where having a meaningful purpose can be what really separates out brands that are providing similar services to each other.  

We’re in a world where the saying ‘people buy from people’ has never been more true, and in this world, your business needs to be able to connect with your people, through showing them that you are on a mission to do MORE than just ‘making money’.  

The lesson here is that in order for you to be fulfilled in your business and for it to truly connect with people, you should consider thinking about what your business actually stands for.  

If you’re struggling to find your purpose and are looking for an accountant to take your business to the next level, then get in touch with us today!