Understanding Brand Values

THE ONE PROCESS YOU DON’T WANT TO IGNORE! DISCOVERING YOUR ‘WHY’.

Today would be one of my most favourite topics when it comes to establishing the heart and soul of your brand, and that is Brand Values! Look it might sound like a bit of drag to begin with but what if I was to tell you it will create so much clarity, direction and content for your business moving forward (plus it’s actually fun, especially if you follow my brand values questionnaire process!).

So let’s jump to the chase and talk all things Brand Values.

Lizzie R – Director – Brand Strategist

BUSINESS & BRAND VALUES Q&A WORKSHEET

PS – This worksheet is paper-free and editable, ready for you to type your answers direct into the document (talk about saving time!).

Just like each and every individual person, successful brands embody values and beliefs that they live by. These core values support their brand’s mission, personality, appearance, work culture, staff, marketing and their overall goals. So, If you are just entering your entrepreneurial journey or if you have an active business that is lacking personality, is confused or just maybe the business is not authentically connecting with your consumer then you need to STOP and discover/or review your brand’s core values.

TO SUMMARISE; BRAND VALUES ARE THE FIRST FORMULA TO YOUR BRAND’S PERSONALITY, BEHAVIOUR, APPEARANCE AND BEYOND.

BRAND VALUES AND YOUR BUSINESS

What do brand values have to do with your start-up business? Everything! Brand values are the guiding principles at the foundation of your business, they help steer your purpose, personality and proposition. These 3 P’s of your brand take highest priority at first, but you will quickly realise that it’s your brand values that underpin them and ensure consistency as your business develops. By allocating adequate time and attention to establishing your brand values early on you will set your business up for long term success.

So, what are brand values exactly? Brand values are different for every business and the more unique and refined to your own brand they can be, the better. You don’t just want to mimic other brands or quickly throw together a few soulless sentences. Your brand values may be condensed into 2 or 3 clear sentences or highlighted in dot points. However you wish to communicate them, these brand values will reinforce your brand and provide a consistent internal and external mission for the business to follow. 

KEY BENEFITS OF DEFINING YOUR BRAND VALUES

Your brand values will provide a strong foundation for your brand, helping sustain it as your business evolves through its lifecycle. Clearly articulating and consistently expressing your brand values has a range of positive impacts; we’ve highlighted some of the key benefits for you here.

1. A Guiding Compass for Decision-Making:

Identifying your brand values helps to layout a clear purpose for your business. Your brand values act like a compass, guiding you to your brand’s true north at all times. When business decisions arise, big or small, you will be able to reflect on your brand value’s and ask yourself “Is this in-line with our brand values?”. By making better decisions and being consistent, you’re strengthening your brands presence in the marketplace.

2. Get Sales, Quicker:

If your brand values are clearly communicated and strike home with your target audience, you can actually shorten the consumer’s decision-making process. A big part of attracting customers involves connecting with them. If they can quickly identify your brand values and it resonates with their own personal values, you’re already a step ahead in the process and a leg up on competitors.

3. Create Lifetime Customers:

Not only do customers prefer to buy brands that align with their own values, but they’re also more likely to repeat purchase from them. Ensuring your brand values consistently underpin your business activities throughout its lifecycle will help turn once-off buyers into lifetime customers. Cultivating loyalty in those which identify with your brand values is a sure-fire way to boost profit and brand equity and sustain business growth into the future. 

4. Encourage a Strong Culture:

When your brand values are embedded into everything the business does, it shows! Not only do customers notice, but your team members and potential employees do as well. Strong brand values help to bond those involved and build a strong internal culture, while also attracting the ideal applicants when a position opens. Brand values layout your mission for others to see and create an aspiration for all to rally behind.

5. Be a Leader:

Your market research may have turned up a lot of competitors, but when you possess clear brand values and strongly embody them – you can become a leader in your space. Consumers love businesses that walk the talk and you can build a profitable reputation as a passionate brand, committed to pursuing its core values and shaping the future of your marketspace when you resolutely express your brand values. 

ESTABLISHING YOUR BRAND VALUES

1. Reflect
Reflect on what’s important to you! What’s driving you to launch your brand and what do you want it to stand for? Don’t rush to provide an answer to this either, mull it over for a few days. Come up with something and then come back to it and question whether it truly encapsulates what you want to achieve and be known for. 

2. Understand
Know your consumers and your competitors. Be aware of the commonalities; the good, the bad and the ugly. Understand who your target market is and what they like and dislike about current offerings and ask yourself what you would like to see in the market if you were the consumer. By stepping into the shoes of your target audience you can analyse the market and identify what’s lacking and how it can be improved.

3. Articulate
Once you have established your brand values based on internal reflection and external research you can shape them into an easy-to-remember, easy-to-understand communication. Whether it’s a few brief words dot pointed out or a concise phrase worked into a tagline, ensure your brand values clearly articulate the core principles of your brand.

4. Embed

Now that you have established your brand values, don’t forget them! Come back to them regularly, question your communications to ensure they’re aligned, communicate them across all channels and embody them at every chance. Brand values can help build your brand value, but only when they’re consistently represented and clearly identifiable.

We have put together 10 Questions to help you find your “Why” in our downloadable worksheet here. These key questions will help you to identify your core values and establish authentic brand values to support your brand and business well into the future.