Brand Values are three to six words or short phrases that paint a picture of what a business sees as the ideal customer experience. They serve as a promise to the market—not only what the company strives to be in theory but considers on a practical level when making day-to-day decisions about priorities and initiatives.
But why does your business need them?
Clear Brand Values bring more to an organization than simply inspirational words to hang on the wall; they bring three tangible benefits.
First, they differentiate the brand from the competition, making it stand out in the marketplace. Companies without clear Brand Values tend to blend in with the competition. Without a strong brand identity that fosters loyalty, companies are left to compete primarily on price.
Second, they enable a consistent experience for customers. Brand Values provide every employee a picture of how to interact with and serve the company’s customers. Instead of employees having their own view of what the customer experience should look like, the values provide a guide so that there is less variance in what customers experience when interacting with the company.
Third, they serve as a magnet that attracts the right type of customers, vendors, and employee candidates. When the marketplace knows what your business stands for, people who respect those values will be drawn to the company.
In summary, Brand Values serve to distinguish a company in the marketplace, provide a consistent customer experience, and attract people with similar values. The impact is an organization that has a strong, consistent external identity.
The concepts from this article were taken from Brand & Core Values: Keeping promises to the market and the team. Available through The ReWild Group and Amazon, the book explores in-depth this and other concepts while providing illustrations to help business leaders incorporate the ideas into their organizations. Get your copy today, and don’t forget to download the free workbook that serves as a companion guide to the book.