Your brand values are the beliefs that you, as a company, stand for. They serve as the compass that guides your brand story, actions, behaviors, and decision-making process. The importance of brand values.
There will be times in business when you have to make tough choices. But when you have values that constantly remind you of what’s important to your business and to the people you’re serving, making the right decision becomes an effortless task. To top it off, you can live with those choices knowing that they’re informed by values that are aligned with your brand’s overarching mission and vision.
Brand values matter because they influence how consumers view your brand, which is important considering that consumers are more likely to support a brand whose core values align with their own. Building your brand around your values allows you to grow a business that you can be proud of and be passionate about. And because those values reflect you and your company, it becomes much easier to stay true to yourself. And in an era where consumer trust is at an all-time low, it pays to have a core set of values that helps you maintain brand authenticity.
Often times, small businesses feel they can’t compete with large companies (especially when it comes to pricing), but they CAN offer a better customer experience by lining up their brand values with the values of their customers. A customer won’t mind paying a bit more if they feel better about purchasing from a small business. Perhaps your brand is vehemently eco-friendly or advocates fair trade; these types of values will sit well with a certain type of clientele.
There may be several companies, large and small, that offer the same product or service that you offer, but can they all make the same promises? Your brand’s values will help you stand out from the crowd and help you attract similar-minded clientele who appreciate your values. Perhaps your brand is a bit rebellious and cutting edge, some people will prefer it over other brands with different values because they are rebellious and cutting edge too or want to feel that way.
Anyone who has run a small business knows it takes a certain relentlessness in order to be successful. And it’s not easy to be driven and determined every single day, even when the stakes are high. The most successful small businesses are propelled by business owners who are truly passionate about what they do. And in order to be truly passionate, you as a business owner must believe in your brand’s values on a very primal level.
Remember: values-based brands are always “doing the right thing.” It’s a simple principle, but one that foils many brand owners because many don’t take the time to know what the right thing is. It’s inevitable that every brand will face some form of change, controversy, and crisis.
And it’s in these challenging times, that a brand’s actions broadcast its values. In a marketplace hyper-focused on the next best thing, values-based brands are disciplined focused, consistent, and credible.