As I’m planning this week’s content and considering talking about the ROI of authentic and soulful business building, I’m asking myself, “do I really need to make the case for this?”
The answer of course is yes… because we’re still in a time when the case for operating in a certain way can’t just “feel good…” or aligned, or empowered. Evidently, that’s not enough. So, let’s make a case.
Firstly, when I’m talking about soulful business building, what exactly am I referring to? I’m talking about authenticity. That’s what makes business soulful – when you’re embodying your essence in a way that cannot be denied. It’s you expressing your truth as it relates to what you do. Because believe it or not, what you now do for others is what you have done for yourself. It’s not always obvious though, which is why it takes some self-discovery. You are the walking representation of your own transformation, and when you get to the truth of your heart as it relates to the strength of your work, you become truly magnetic and unstoppable. And that’s because of authenticity. You have quite literally put your soul into your work. And when you’re fully living in alignment, you’re putting it into everything you do. This is you becoming your most expansive self. When you’re truly authentic, you can’t help but become the most expansive version of you because it is also the truest version of you. It’s your highest frequency, your universal signal, and your energetic signature. It’s your highest self. You as your most authentic self, fully in your power, is your highest self.
So, now that we got that out of the way… let’s make a case for why it’s essential in business building. This is for those who still need the data, the statistics, the practical, grounded case for business.
Let’s dive in.
88% of consumers say authenticity is important when deciding which brands to support, while 92% of customers consider trust the most important factor in choosing a company. Additionally, it seems as though authenticity drives consumer preference since 88% of consumers look for authenticity when choosing brands, and 77% are more likely to buy from brands that share their values.
What is this telling us?
That trust is paramount: A 2020 Salesforce survey found that 92% of customers view trust as the most important factor in doing business with a company.
That loyalty can be strengthened: An Accenture study showed that 81% of consumers would switch to a more trustworthy brand.
That building stronger connections is the way forward: Around 70% of customers feel a stronger connection with a brand when its founder or CEO is active on social media, a key avenue for showing authenticity.
Let’s talk about what we’re doing in Soul’d when we connect your own hero’s journey to the way you talk about your business.
A compelling brand story can make people 55% more likely to buy in the future, 44% more likely to share the story, and 15% more likely to buy immediately, according to Headstream research.
And when it comes to the content you share?
90% of consumers consider content authenticity when deciding which brands to like and support.
Because what are we actually sharing when we are authentic? The truth of our hearts as it relates to the strength of our work. This is our hero’s journey, the moral of our story, and the thing that matters to us so much about our work.
This in turn makes our businesses real, relatable and rooted.
And this can affect which areas?
Thought leadership: Founders who are authentic and transparent can build powerful personal brands that establish them as thought leaders in their industry, which in turn elevates the company’s status.
Relatability: When a founder shares their personal journey, including struggles and successes, it can create a relatable narrative that resonates with consumers and strengthens connections.
Networking and growth: An authentic personal brand can lead to a stronger network of connections that generate new business opportunities.
Increased engagement: A 2019 study concluded that sharing authentic founder stories—especially those rooted in “self-transcendence” or a connection to a greater whole —promotes greater customer engagement.
Now, if this doesn’t already speak to the value of authentic business building as it relates to the Soul’d approach, let’s talk about the money piece – financial growth and stability.
When you’re building a business aligned to your truth, you will see:
Higher returns: A 20-year analysis of purpose-driven public companies found that they achieved an annual growth rate of 13.6%—five times the S&P 500’s average return. Another study found that purpose-driven companies outperformed their closest competitors by margins ranging from 1.4 to 14 percentage points.
Increased revenue growth: Research by Deloitte found that companies focused on purpose earned an average ROI of 9.85% compared to 8.71% for companies without a clear purpose. One report also indicated that 58% of purpose-driven organizations grew by 10% or more over a three-year period, compared to only 42% of those without a clear purpose.
Higher valuation: A strong Environmental, Social, and Governance (ESG) strategy, which aligns with the values of a soulful business, can result in a 10% to 20% uptick in business valuation and attract more investor interest.
Let’s dive into the enhanced profitability since we can clearly see that authenticity directly influences the financial health of an entrepreneurial venture by boosting revenue and improving margins.
A few ways this happens includes:
Higher customer spending: Customers are often willing to pay a premium for products and services from a brand they perceive as authentic. Over 75% of global consumers are willing to pay more for products from brands that are environmentally and socially responsible.
Stronger growth during volatility: Purpose-driven family businesses, a type of authentic business, have been shown to outperform competitors during periods of market volatility. This suggests that a clear mission acts as a stable guide, even in uncertain economic times.
Greater revenue and higher returns: For entrepreneurs, authentic practices drive sustainable growth. One study found that purpose-driven companies have higher revenue growth (58%) and higher returns on invested capital (63%) compared to their peers.
And let’s also talk about the higher customer lifetime value because authenticity fosters emotional connections with customers, turning them into loyal advocates who spend more and stay longer with the brand.
This happens through…
Increased repeat business: Loyal customers generate repeat purchases, increasing sales volume and improving overall profitability. A strong reputation built on authenticity and trust leads to more referrals, lowering customer acquisition costs.
Resilience through loyalty: During economic downturns, loyal customers are more likely to stick with a business, providing a more consistent and reliable cash flow. This loyalty serves as a crucial buffer during difficult times.
Brand equity and valuation: For entrepreneurs looking to sell or attract investors, a reputable and authentic brand identity is a valuable asset. The value of a business can increase based on its brand equity, which is strengthened by authenticity and trust.
And let’s consider one more area of the financial portfolio of a business.. And that is reducing costs through stronger teams.
Authenticity in leadership and company culture directly impacts employee performance and retention, leading to tangible cost savings.
Lower recruitment costs: An authentic and attractive company culture can act as a natural recruitment tool. Talented individuals, especially among younger generations, are drawn to companies with values that align with their own.
Higher employee retention: High turnover is costly. By building a culture of trust and transparency, authentic entrepreneurs can significantly increase employee retention, reducing the expenses associated with hiring and training new staff.
Increased productivity: When employees trust their leaders and believe in the company’s purpose, they are more engaged and productive. Highly engaged business units see a 23% increase in profitability, according to Gallup research.
Ok, so that was a lot.
But I see why I had to do this and I hope you do too.
The Soul’d approach isn’t performative. It isn’t selling anything but the actual transformation you provide. It’s rooted in truth, because it’s rooted in you – in your essence.
The Soul’d approach entails both parts of soulful business building – marketing and manifesting. Like I always say – people can no longer be sold to; they must be soul’d to. That’s where the marketing piece comes in. But in order for you to truly sell with soul, you need to be soul’d on you first. That’s where the manifesting piece comes in.
If this is singing to you, please check out the Get Guidance page of my website. Join me for a 30-minute free discovery call. Join me for my upcoming $22 workshop that gives you a taste of the methods. I’ve got a self-study program that features The Marketing Methods for just $99. And a membership that features The Manifesting Methods (also known as The Money Methods) for just $55/month. 1:1 opportunities are also available should you decide to work with me in that capacity. The Soul’d approach is truly the only approach available that isn’t just another marketing and manifesting matrix.
The methods themselves don’t share my way of business building or anyone else’s way… they simply bring you closer to yours.
Your unique, beautiful, incredibly wonderful path to your own version of success.
Click on the link above to watch the latest episode of Soul’d, or listen to it via podcast here on Apple Music: https://podcasts.apple.com/us/podcast/sould-by-christina-giordano/id1760357148 or here on Spotify: https://open.spotify.com/show/2EXmS5t7jgohMD4P4ZzKEu
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