02 July 2020

Purpose = Proposition

by Mark Low

Does your proposition reflect what your client wants solved? I’d like to spend a couple of minutes talking about two financial service businesses and how purpose can mirror a proposition and how a proposition can provide an inspirational direction.

Australian Ethical is an Australian Superannuation and Investment Fund Manager driven by 3 pillars – the planet, people and animals. Their proposition ‘A better world for all’ resonates on a humanitarian level that attracts like minded, purpose driven shareholders, members and employees. Equally, their positioning and proposition can inspire new members to pursue a new purpose or direction in investing. I believe the ‘win win’ is when there is a mirrored purpose between individual and business that results in directional inspiration. It seems like there’s no better time for businesses like Australian Ethical – with human rights, climate change and animal welfare being so top of mind, it only enhances their purpose and reinforces their existence.

Eliot Hastie had a credit card debt problem, not uncommon for someone of his age. Fortunately for Eliot he discovered Fox & Hare, a dedicated financial advice firm for millennials, whose shared purpose helps people like Eliot move beyond their financial problem. Fox & Hare’s proposition – ‘Create Clarity, make your money work, further your adventure’ hit the mark for Eliot and others like him. Fox & Hare have been able to deliver on their proposition through their online systems, deep understanding of their clients needs, demystifying the traditional financial planner and education. This was reiterated recently by Eliot when we said ‘ As of this morning I am officially debt free. A little over a year ago I started seeing the amazing team at Fox & Hare Financial Advice. I have a giant credit card debt that I let gain interest, was spending nearly all my money each month, and only put a little away. Now I am debt free, have holiday savings (boo COVID I can’t use it), and am now working towards investing my money. Its been a total turnaround. ‘Win win’ – his purpose, getting out of debt mirrored Fox & Hare’s purpose and now the adventure begins!

When it comes to a proposition too many companies simply state what they do and do not take into consideration the needs of their audience – this might make them feel good, but it does not connect them to their audience in an insightful way. I believe a successful proposition needs to help solve a clients problem – a bit like Eliot. People are looking for a proposition that mirrors their purpose, provides inspirational direction and delivers through action!

Purpose driven questions = purpose driven proposition

  • What does my audience really value?
  • What is the key problem facing my audience?
  • What motivates my audience?
  • What are my business values and what actions drive them?
  • Why does my business exist, what is its purpose?


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