66% of consumers are willing to pay more for a purpose This is the seventh of 20 daily ‘thoughts’ examining the trends in marketing in 2018 and beyond.A TED talk viewed by more than 41 million people talks about the importance of ‘why’ – and the importance of having that why as the priority consideration. […]

66% of consumers are willing to pay more for a purpose This is the seventh of 20 daily ‘thoughts’ examining the trends in marketing in 2018 and beyond.A TED talk viewed by more than 41 million people talks about the importance of ‘why’ – and the importance of having that why as the priority consideration. Simon Sinek suggests that while what a business does is important, how it addresses its ‘why’ is more important, and its ‘why’ is its most important consideration. The ‘why’ he is referring to is ‘why it is in businesses’ – or its ‘purpose’. Every business has to make money and create wealth for its shareholders and stakeholders, but Sinek points out that truly great businesses (e.g. Apple) have a ‘higher purpose’. They are driven by something more important than money. Sinek, like many writers and researchers on this subject, suggests that if a business focuses…