02 Sep Podcast: NOVICA – Part 2 – Creating a social impact brand and loving it
Welcome back to the NOVICA podcast! Our story continues with Roberto Milk, co-founder of NOVICA a marketplace that unites the world with over 2000 talented artisans. In part 2 of our sponsored podcast with The Story of a Brand, Roberto discusses how he created a social impact brand, and his advice to others that are looking to do the same. If you missed part 1, it’s worth a listen as Roberto talks about starting his own revolution and making a difference in the world.
More than products
Brand purpose creates a strong connection between the brand and the consumer. The result of this connection is higher CLV (customer lifetime value). Sometimes there is a greater mission that fuels a brand’s success. In the case of NOVICA, they want to connect consumers to each other and the world around them. The result is a brand built to help others, and the profits are the fuel to achieve the mission.
This business model where the “core business is the mission” as Roberto Milk calls it, is typically referred to as a social impact brand. As Roberto sees it, people today are striving to combine work with a mission. He sees this trend taking hold with the new generation of entrepreneurs and those just entering the workforce.
Roberto’s 4 steps to creating a social impact brand (and loving it, too)
- Listen – The first step is identifying challenges that you feel passionate about. Doing that requires that you listen to people. What challenges and problems are they facing?
- Break routines – The second step is to find a unique solution that solves the problem you identified. For instance, Roberto saw that artisans from around the world poured their hearts into creating beautiful pieces of art. However, they received very little compensation from their efforts. Roberto created a way for the artisan to be paid directly for their work. Doing that required thinking differently about problems, solutions, and the world around you. One way to start thinking differently is by breaking your usual routine and trying something new. A key ingredient of this step is to choose something that makes you feel uncomfortable.
- Volunteer – The third step is volunteering. Unlike a typical for-profit enterprise, a social impact brand requires that you have a different set of motivations other than money. Volunteering is a great way to get a taste of being in the service of others. It will help you determine if a social impact brand is really for you.
- Travel – The fourth step is to travel. According to Roberto “for entrepreneurs, the revolutionary ideas come from travel.” Similar to steps above, travel allows you to experience a new environment, immerse yourself in a new culture, and look at the world in a new way. The goal is to break your routine and look at the challenges that people around the world face with a new perspective.
Listen to the full podcast below.
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