What Are Brand Values? (With Examples and Benefits)
Values, also known as core values, are the fundamental beliefs of a person or an organization. Brand values dictate a brand's activities, and they help determine if it's acting toward its mission and goals. Learning about values for a brand can help you create effective values for a company to increase its chance of success. In this article, we define what brand values are, explore the benefits of outlining core values, and list examples of these values.
What are brand values?
Brand values are a set of principles that guide a brand's activities and decision-making processes. They represent the beliefs, identity, personality, mission, and vision of the brand, and they guide and demonstrate what a business considers essential. They influence how consumers view the brand, which also determines the brand's level of support. For example, if a brand's values align with a consumer's, the consumer is likely to support that brand.
Brands generally determine their values at the point of business creation, but a values list is dynamic and can change throughout the brand's life cycle. Brands also typically select a few values to focus on in a certain period to help guide their processes.
Benefits of core brand values
Having a list of core values for a brand is beneficial in many ways. This list typically:
Determines brand identity. The values communicate a brand's purpose, making it easy for employees and clients to understand and relate to the company's identity.
Guides brand activities. Brand values act as a set of guiding principles that dictate the brand's actions. If an operation doesn't conform to any or all of the brand's values, the company can avoid partaking in it.
Makes the brand memorable. With a large number of brands available, consumers may find it easy to remember only a few. Strong values may leave an impression on consumers, which can help them remember the brand.
Increases customer loyalty and employees retention. When a brand is memorable, people may regularly support it. Employees also typically prefer brands with strong core values.
Examples of core brand values
Brands have many values which communicate their purpose, including:
Leadership is a brand's ability to influence and guide other brands within or outside the same industry. It involves making excellent decisions, setting achievable goals, and providing employees with the tools and knowledge necessary to achieve their goals. Brands with leadership as a value take measures to recruit and retain talented employees. They're also able to stimulate customer loyalty, which usually helps them achieve higher profits than their competitors.
Leadership also involves engaging in processes that determine the future of the brand's industry, and influence related industries. For example, a brand might launch a new product that renders similar products obsolete, forcing other brands to follow suit and adopt the style of that new product.
Diversity and inclusion
Diversity refers to the combination of people in an organization. A diverse brand embraces talents with different demographics. Diversity also refers to the accessibility of a brand's products and services by different groups. Inclusion refers to all the conscious efforts a brand puts toward valuing its employees despite their unique differences. It involves producing different strategies and techniques that make diversity relevant within an organization. Diversity and inclusion are two interdependent terms that together help a brand reach all categories of people.
A brand's ability to collaborate involves fostering the working together of its staff to achieve a goal through sharing ideas. Collaboration allows brands to leverage the collective genius of various employees to get effective results. It can also help employees get to know each other better and build strong social connections, which may increase productivity. It may give employees a sense of purpose in the organization.
Companies can employ a variety of methods to help ensure there's a strong collaborative culture in the workplace. They can ask for regular feedback from different teams through various communication channels, practise transparency, and support employees.
Accountability means that all employees in an organization are answerable for their actions, decisions, performance, and behaviour. It involves holding all employees accountable for accomplishing business goals while still giving them autonomy in their various roles. Giving employees autonomy empowers them to do their jobs so they can strive for excellence while taking responsibility for their actions. Many brands value a culture of employee accountability because it usually leads to effective performance. Accountability also helps build trust because employees may be able to depend on one another.
Passion is a highly positive attitude toward a brand. It usually leads to customers' emotional attachment and influences their behaviours. Passion is also the intense enthusiasm and excitement of a brand's employees about its activities.
Beyond customers and employees, brands can also show passion for their actions and products. For example, a brand might run an advertisement that says, "We love what we do." This communicates passion, which may generate positivity and have improved outcomes with consumers. Before a brand stimulates passion, it's necessary to know the targeted audience to connect with them. Brands typically research their target audience, then communicate a narrative to which the audience can relate.
Quality refers to a brand's commitment to deliver consistently excellent service or manufacture excellent products. The primary purpose of quality is to meet customers' expectations, establish a brand's reputation, and meet industry standards.
Brands typically devote many resources to quality management through quality assurance and quality control. Quality assurance refers to maintaining a desired level of quality in a product or service by monitoring every stage of the production or delivery process. Quality control is more focused on the inspection aspect of quality management. It involves using operational techniques, like testing a product, to determine whether it fulfils the requirements for quality. Brands can build their quality reputation by gaining accreditation with recognized quality standards.
Communication is helpful among employees in the workplace and for brand activities, such as advertising. Employees often share ideas and strategies which help ensure the performance of activities. Communication helps build social connections which help employees become familiar with their team. Because communication occurs every time a customer interacts with a brand, it's important to make it clear and concise so the customer understands the message and can quickly make decisions. Communication also helps a brand communicate its other core values to both its staff and clients.
Honesty means being truthful at all times, regardless of the situation. It involves being transparent with the products and services of the brand and being honest, even when the situation isn't favourable. Honesty can help establish trust, which may increase the chances of consumers overlooking minor issues. Fostering an honest culture in the workplace also promotes self-accountability and responsibility among employees.
Integrity derives from honesty and consistency. It involves being sound in moral character, adhering to moral and ethical principles, and maintaining loyalty. Integrity significantly affects a brand's perception of customers and employees. A brand with integrity can build trust quickly and is also dependable. Improving a brand's integrity can also help improve its value to consumers.
A brand's uniqueness refers to its quality of being particularly remarkable or special. It involves creating key brand elements that separate the brand's products and services from its competitors. Uniqueness makes it easy to identify a brand, builds trust and loyalty, and can increase revenue.
Fairness refers to a brand's impartial treatment of its employees and customers. It's an essential value because it leaves a long-lasting impression on both staff and clients. In the workplace, fairness can affect productivity, which is why companies show it through different tactics, including:
Encouraging mutual respect
Modelling correct behaviour
Changing rules to foster fairness
Communicating with employees
Establishing transparent promotion procedures
Committing to fair wages
Brand consistency involves regularly communicating the brand's core values over time. This includes showing dedication to the brand's value through various activities. Constantly producing quality products and delivering quality services, valuing honesty and rewarding it, and leading other brands in different areas of customer satisfaction are key elements of a brand's consistency. Consistency also helps to solidify a brand's recognition when it communicates through all channels. It facilitates the brand's trust and confidence and distinguishes it from competitors.
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