What your brand stands for are as important as the products or services you provide. As the world becomes more socially aware, consumers are increasingly selective about the ethics of the brands they choose. In fact, 71% of consumers would rather buy from companies that share their values
Why should you identify your brand’s values? We have dived into identifying what your branding values will do for your business and how you can pinpoint exactly what your values are.
1. Values make your brand stand out from the crowd
In a competitive marketplace, you need to give your brand an edge. A strong set of values can help you achieve this by setting your brand apart from your competitors. Clear brand values can also help you create a strong and consistent narrative across multiple touchpoints, such as your website, advertising, and social media presence. This strengthens your brand’s identity and increases customer recognition, making your brand far more memorable. If you are ready to chat, contact our intelligent creative team and see how our skills can help you carry your brand through today and tomorrow.
2. Values helps you connect with your target audience
People buy from companies they like, and when they can see your business shares their values, they are more likely to feel that connection. Political and social awareness are becoming key drivers of consumer decisions, communicating your brand’s values clearly and consistently will boost your brand’s credibility with people who share those values. If you want to attract new customers and deepen the loyalty of existing ones, strong brand values are a must.
3. Values make business decisions easier
As well as enhancing your business in the eyes of your customers, brand values can help “behind the scenes” too! Think of brand values as the foundation on which all the other elements of your brand are built. Values provide clarity about what your business stands for, which gives you guiding principles for times when tough decisions need to be made. Positive corporate brand values can also instil your workforce with a sense of pride in who they are working for, increasing their engagement.
Now you know why you should clarify your brand’s values, let’s look at how you can do it!
Clarify what your company stands for
Many businesses are great at communicating what they do, but a strong product on its own won’t guarantee customer loyalty. Ask yourself what is vital to your company and use this information to frame your values and your brand positioning. For example, if you have a generous and flexible returns policy, you value customer satisfaction. To build a deeper connection with your audience, it’s crucial to tell them why you do what you do.
Understand what matters to your audience
As more customers have increasingly high expectations of the brands they buy from, aligning your values to your target audience is crucial to customer attraction and retention. Researching what issues resonate most with your target audience will help you to align your values with theirs.
Identify what your competitors are doing
If you don’t know what your competition offers, how can you make sure your business stands out from theirs? You can instantly make your business more memorable by communicating your values in a way your competitors do not.
Look to your favourite brands
Your personal values will often align with what your business does. Take a look at your favourite brands and identify why you like them. Do they have anything in common? If you notice values cropping up across several of your own favourite brands, it’s likely these values also apply to your business.
Defining the values that underpin your business ensures that your corporate branding is more cohesive and can make everything else your business does easier and more consistent. Identifying these values can be tough, if you need support in building your brand values it might be time to seek some advice from an online marketing agency. Our corporate branding services are second-to-none, and we have rolled out hundreds of brands nationally and across the Sunshine Coast since Chilli began in 1993. If you need help identifying your brand’s values, contact our team of helpful, intelligent creatives today!