Brand values are a crucial component of a company’s strategic intent; they are the heart and soul of your business. They act as a set of guiding principles that shape every aspect of your brand.
It’s easy to incorrectly assume that brand values fall under marketing, but in reality, your core values should be built into the foundation of your business. When utilized properly, core values are a valuable tool in driving desired business outcomes. Yes, they should be an important part of your marketing strategy, but they also help you shape your business goals and strategy and help guide your company in the desired direction.
Here are 3 distinct reasons to define strong, meaningful core values for your business:
Core values are part of your brand’s DNA. When implemented correctly, core values should drive all aspects of an organization. They assist in upholding consistency throughout all aspects of the brand by acting as a guide which can be used to ensure voice, messaging, aesthetic and target audience remain consistent and aligned. When your brand is consistent, it is communicated more effectively.
Connection with Customers
Your values increase your authenticity and portray the purpose behind your brand. They provide a basis for customers to connect and relate to your brand. Consumer purchasing decisions are increasingly becoming influenced by individual beliefs and values; therefore, alignment of values with your target audience is crucial. When executed correctly, this can also lead to a large increase in customer loyalty. Most people prefer to purchase from companies that share their own values, and they tend to avoid brands that don’t.
Finally, your values will help you create a strong and sustainable company culture. Well-defined values will assist in attracting team members that share your values. You will be more likely to assemble a team of like-minded individuals, who are aligned with your mission and share a sense of purpose. Well-aligned teams are more productive and more successful in achieving company goals.
We challenge you to take a look at your brand values. Do they properly represent your brand? Are they meaningful? Are they well defined? Can they be improved? To learn how to define meaningful brand value and further understand their importance to the success of your business, sign up for Venture today.