I’ve been observing an intriguing trend over the last few years. My hypothesis is that we are entering into the deeper meaning economy era. Maybe it’s just me growing up and maturing in my reasons for doing things, or maybe it’s an actual societal shift taking place.
I see people who have met their basic survival needs and have some discretionary income starting to shop for meaning versus status.
Potential Reasons for Shifting to the Deeper Meaning Economy
Maybe it’s the religion thing. The decline in religion may explain this trend. Some people call it the Crisis of Meaning. Fewer people call themselves religious, yet the thirst for deeper meaning seems to remain in us. We start looking for meaning in new places, including the products and services we buy, the companies we work for, the places we go, and the creators we support.
Maybe it’s the status thing. Status is becoming hard to define in this day and age. What’s considered high status? A big house? An expensive car? In some circles, these things are seen as bad taste—an uncreative show-off. We all live in our own little bubbles of specific interests and values. A great example is our social media feeds: yours is different from mine, even if we’re in the same socioeconomic group. Maybe meaning is becoming the new status game. It’s hard to say.
Maybe it’s the immunity-to-hard-sales thing. People have learned the traditional marketing tricks (urgency, exclusivity, pricing games, etc.), and they’re no longer as effective. It’s becoming harder to manipulate people using the traditional toolkit.
Maybe it’s the community thing. Perhaps we’re simply looking to find “the others”—those with similar worldviews and values. The village is gone but we continue to look for that sense of belonging.
Maybe it’s the storytelling thing. Last year, I attended a conference as an exhibitor for my main camping business. I met many people there, and the number one question they asked was, “Why did you start this business?” When I shared my story and the deeper “why,” they were genuinely happy to hear it. I sensed a real thirst for a meaningful story. Their main question wasn’t about price, product, or service area. And if people resonate with the story, they’re more likely to share it with friends. Similarly, “About Us” pages always get a lot of views. People want to hear a good story.
Maybe it’s the trust thing. When people understand your “why,” they can better understand your motives and predict future actions. They trust you’re less likely to do something unexpected, avoiding unpleasant surprises.
Maybe it’s all of these things.
Examples of Where I’m Seeing This Shift
My Favorite Local Cafe
There’s a cafe in my town I like to frequent. Why? Because they took a bold stance on not accepting tips and paying a living wage. For context, many believe that tipping culture in North America has gone out of control. You’re often expected to tip even when there’s no table service: for takeout, coffee to-go, and even some professional services.
This cafe opened right after the pandemic with a clear stance on not accepting tips. Their prices are set to ensure they can pay livable wages to their staff. For my European readers, this may not seem radical, but it’s a big deal here.
The result? People flocked to this cafe from day one. They appreciated the “why” behind the cafe’s philosophy. Their coffee and food are solid, though not the absolute best in town. But it doesn’t matter—customers, including me, are buying into their mission and vision for a better future.
Basecamp
One of my favorite podcasts is Rework. I come from the tech world and product development, which is how I discovered it many years ago. But I keep listening because of their unique approach to business. They build their software, Basecamp, for underdogs, calling it their customers “Fortune 5000.” Unlike their competitors, they don’t seek out Fortune 500 clients. They focus on staying profitable with a small team and aren’t dreaming of an IPO.
If you listen to their podcast, you’ll see that everything they do is grounded in their deeper philosophy, which they’ve shared from the start. This way of marketing – sharing their philosophy and viewpoints in written and audio format – has become their main marketing tool.
Elon Musk
Love him or hate him, Elon Musk is a great case study in the deeper meaning economy. Everything he does is about “saving the world”—from going to Mars to building electric cars and saving democracy by saving free speech.
Have you read his biography? I have. And I remember thinking I wouldn’t be able to work for him. Yet he attracts top talent. I think it’s because everything he does has a purpose. Talented people need a good cause to work for, and Musk’s ventures surely provide that.
Daycare
There are waitlists for daycares where I live. The two types with the longest lists are Montessori and Christian-based daycares. On their websites, they emphasize their philosophy of educating children, explaining their worldview and why it matters. And people seem to value that.
Where Does This Take Us?
Why do people buy based on deeper meaning? I think by doing that, they are saying, “I’m contributing to [insert meaningful cause here] by purchasing this item or service.”
I believe it’s more important than ever to share your why, your philosophy, and your values. In a way, it’s a shortcut to finding the right customers or supporters for your product or service.
How I’m Embracing the Deeper Meaning Economy
I decided to run a bold experiment to test my hypothesis about entering the deeper meaning era.
I’ve revamped the homepage of MonthlyMethod.com. Right now it’s simply a list of ideas that shape my philosophy on personal productivity and my deeper why —the idea of living a life of calm ambition and sharing the tools that work with people who are interested in the same thing. There are no links to paid products, no convincing anyone that their life sucks unless they buy my product, no limited-time offers. Just a page sharing short insights I’ve learned over the years.
My hypothesis is that listing these ideas will allow readers to quickly say, “Yes, I agree! Where can I find more of this?” or “No, this isn’t for me,” and close the page. Most homepages play it safe and come across as generic. This will hopefully be a much quicker filter for finding my people.
I’m also in the process of calming down the design of the entire website. If it’s about calm ambition, there is no place for loud colours, shouting buttons, and urgent countdowns. The deeper meaning, not industry best practices, is dictating my design choices right now. I’m not gonna lie, it feels scary to go against the grain. To consciously forget everything I’ve learned up to this point about how I ought to do things.
This is unconventional, but I’m putting my money where my mouth is. I’m curious to see where this experiment will take me.
What About You?
Do you see the same shift in purchasing behavior? What are your favorite examples of meaning-first businesses? I’d love to hear your thoughts and will update this post with great case studies if I hear back from you. You can send me a message here.
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