CHICAGO: Zeno Group has launched a Strength of Purpose Diagnostic Tool to help companies understand how their purpose is perceived and performing across areas that matter to stakeholders.
The tool takes users through a five step process that begins with a performance evaluation, offered on a sliding scale of thoroughness depending on each company's budget and purpose goals. The proprietary technology can be applied to any company, including brands that already have an articulated purpose.
A section of the company's consumers are then asked a series of questions about their perception of the company's purpose and how it relates to them. Then Zeno looks at how the company is living its purpose through operations and brand experience.
"We look at key places companies have to perform purposefully, including sustainable products and services, issue advocacy and diversity and inclusion," said Alison DaSilva, Zeno Group’s MD of purpose and impact. "Then we benchmark where they perform across those business practices to identify where they're leading and where they're lagging."
The tool is built from the findings of a global research study Zeno conducted in 2019. The study surveyed 8,000 consumers across eight markets, rating their perceived strength of purpose of more than 75 brands.
After doing a regression analysis, Zeno found only one-third of consumers felt companies had a purpose, but that companies with a strong purpose were four to five times more likely to have greater trust from consumers.
"With a global pandemic and racial injustice taking center stage, it has never been more important for companies to lead with a clear and compelling purpose that articulates why they exist and captures what they stand for," DaSilva said.