Brand Strategy Series II: Understanding Your Brand Values
In this second instalment of our Brand Strategy series, it’s all about the importance of discovering and defining your brand values, as they will shape every aspect of your business and ultimately ensure your brand stands out from its competitors.
Ready to learn more about the heart and soul of a brand? Let’s go!
Firstly, let’s define exactly what brand values are. To put it simply, they are the beliefs that you (as a business) stand for. The set of beliefs that align with your business will become the guiding principles that you base your brand story, actions, behaviour and decision-making process upon. Think of them as your business ‘truth north’ that directs your path and keeps you on track to achieve your purpose and goals.
Now that we’ve defined what brand values are, let’s talk about why they are so important to a business. Core values can influence how a customer views your brand. It is well known that customers are more likely to purchase from a brand whose values align with their own.
Once a relationship like this is established, businesses often experience strong brand loyalty and engagement from these consumers. Why? They feel connected to a business not because of surface level aspects like price, product or location, but rather that they can relate on a deeper level with shared values. This concept is summed up nicely by Howard Schultz: ‘If people believe they have share values with a company they will stay loyal to the brand’.
Defining a set of core values can differentiate a business from its competitors by helping to shape the brand strategy of a business. This includes a brand’s visual identity, messaging and personality. These key values should be brought to life and communicated by the visuals (logo, colour palette, typography) and messaging (tone of voice). It is important to recognise that values bring all of these brand elements together.
Now you might be thinking this is all great but how do I actually determine the values of my business? A brainstorming session is a great start – ask yourself (and your team), what do we value most as a company? What does our company stand for? It’s also important to reflect on any brands that you aspire to and why they resonate with you. Make a list of the qualities you admire and then identify any reoccurring themes or values. On the flip side, learning from negative interactions you’ve experienced with a brand can also help narrow down what you do (and don’t) want your business to represent.
If you need some expert guidance to help define your brand, then get in touch with us at HA Creative and we’ll guide you on the right path with a 1:1 with Hayley, our expert in-house marketer. We love crafting beautiful brands that are built from strategic foundations of understanding the very heart and soul of a business and love supporting small businesses across Australia.
