Purpose has become a very important element in marketing: Mohit Joshi of Havas Media

In a compelling address at Storyboard18's 'Power of Purpose: Sustainability Edition,' Mohit Joshi, CEO of Havas Media, emphasized the critical role of purpose in today's marketing landscape.

Joshi reflected on Havas' long-standing commitment to promoting purpose through its meaningful brand study, which has been in place for 15 years. "We realized that 80% of the brands could disappear tomorrow, and consumers would not even care. It's only 20% of the brands that are actually making a meaningful relationship with their consumers," he stated, highlighting the necessity for brands to forge deeper connections with their audiences.

Joshi underscored the shift in marketing paradigms, asserting, "The P's of marketing have changed," with purpose now standing as a vital component.

He cited successful collaborations, such as those with Swiggy, where Havas have partnered to develop meaningful initiatives, including the impactful project of taking Ma Durga to the Sunderbans.

"Purpose in my view, is built into everything we do," he added, referencing their recent initiative, Samarth with Hyundai as a prime example of purpose-driven marketing.

The discussion at the event resonated with a broader industry sentiment, as Joshi noted, "Every client today is talking about associating in a more meaningful way with the consumer." He called upon agencies to deliver innovative, relevant, and scalable ideas that intertwine purpose with profit, marking a transformative moment for brands seeing to make a lasting impact in consumers' lives.

Read more: Power of Purpose