Michael Campion: So we've touched on positioning, we've touched on personality. Let's touch on purpose. What role does Purpose play in designing a great brand?

Bob Sheard: Purpose is becoming more and more important post-COVID. As we transition into more and more crises, whether it's cost of living, whether it's climate, whether it's credit crisis, whether it's a sort of geopolitical crisis, purpose is becoming much more important, especially more as Generation Z and Generation Y why consuming power becomes more dominant than Generation X.

And that's because Purpose starts up to take on a dimension of moral purpose and, as well as market purposes, of values as well as value and communal gain becomes more important than commercial gain. But underpinning all of that in Purpose is its ability to drive value, because it demonstrates the sort of ambition, culturally, of a company and a brand and it demonstrates its trajectory. So the three components are the brand lens it's the lens through which the brand sees the world it lives in.

The brand mission is the thing or things the brands do every day to realize its vision. And then the brand vision is the statement that emotionalizes the brand ambition. So vision emotionalizes ambition, mission emotionalizes culture and the brand lens emotionalizes strategy. Getting that right is really critical. It's demonstrable Some of the work we did with Volvo on Volvo Defense. We were creating a brand that was collapsing five brands into a new one, so we collapsed Renault trucks, mack trucks, ac-mat, panhard and Volvo trucks into one single brand that we called our Cuse. But we realized as we entered the 21st century that building a company that was predicated on selling more diesel trucks to the defense procurement agencies around the world wasn't really going to add value and add much to the multiple.

So what we did do is we said that we're not selling trucks, we're selling defense mobility systems. The first defense mobility system in human history was the horse. So rather than a Cuse, which is a Latin for horse, we created Arcuse, which is a Latin for armed horse, and built a brand proposition around Arcuse. And then it's positioning and personality was built around the warrior craftsman. But its purpose was built around producing defense mobility systems for those forces for good around the world, and that transformed its enterprise value from around 300 million to 500 million because it took the multiple from a six to a 10. So just through getting the purpose absolutely nailed down, you can see how you can transform the valuation of a company.

Michael Campion: Brilliant and I love how you've used the contextual intelligence and etymology there to get the name absolutely spot on. It shows the value of getting the name absolutely right from the beginning.