Why are brand values important to small businesses?
Times are changing. As a society, business is changing from being purely profit-based to having more humble and practical purposes. People often make decisions based on the things we consider the most important to our lives and form our opinions on the fundamental things that we consider to be ‘right’ or ‘wrong’. Whereas businesses are built on the foundation of what they feel they have to offer their customers; what makes them unique and how they stand out from others.
Whether it’s aiming to be more sustainable, accessible, or inclusive; these things all form how we hope to carry our message and the difference we want to make to society, our environment and the economy.
What are brand values?
Your ‘brand’ is the face you show to the world; who you are, what you hope to achieve and why you’re doing it. Those businesses that have a strong, consistent, and meaningful brand are often the ones who are the most successful. Customers are more likely to gravitate to businesses whose brand has a clear intention – this is where your brand values come in.
These benefit your business, and you by:
- Anchoring your business to its core purpose – see Ipsa’s blog on how to build purpose into a brand
- Being your guiding principles
- Keeping you focused on your WHY
- Inspiring you and your team
- And attracting the right customers
- Aiding strategic decision making
What are brand values used for?
They are used to communicate what you stand for, to act as the foundation of your marketing and people functions, and to ensure successful decision-making.
For example, if your business values ethical marketing and complete transparency in its communication with its customers, then that’s going to help you decide how you want to come across to people. If you’re making a decision about how you want to market your business, your brand values are what push you to make the best decision for your brand and your customers.
Even more so now, people form opinions based on their own values; the injustices they feel, how they were brought up and what they care deeply about. If your business’ brand matches their values, they’re more likely to want to work with you, or buy from you, because they can be sure you will operate your business in the same way they want to live their lives.
Why are brand values so important?
Let me answer that question first by asking another… is it possible to live your life with no opinion whatsoever on how things are done?
I would say no.
Whether it’s politics, religion, ethics, law, or societal expectations; if there’s one thing we do well, as human beings, it’s having an opinion.
If you’ve thought about it, you’ll know that the way you put across your opinion is directly related to whether or not other people are going to agree with you.
In society, we build the best business relationships with like-minded individuals.
You wouldn’t want to go into business and work with someone on a regular basis whose ideals don’t match your own, now, would you?
The most successful business partnerships are those based on effective discussion, cohesion, and compromise.
So, to answer the original question; your brand values are important because:
- They stake your ethics
- They are the route of your visual identity
- They help you communicate your culture
- They showcase your ethos
- And they differentiate you from other businesses.
Ultimately, your brand values are the core foundation of your HOW and WHY.
If you feel you’d like more information on Ipsa’s brand mission, vision and values, or if you need more support for your business in this area, be sure to book a Vision, Mission and Values workshop with Ipsa Consulting.
