Lucinda Sloane, from Bird Media, explains how to define your brand values

Whether setting up a new business or diversifying an existing business, a strong brand identity is vital for inspiring customer confidence, investment and loyalty. It is also integral to the longevity and ongoing success of your business.

In my previous column, I introduced the concept of brand identity – why it’s important, what makes a brand, and what’s involved in the brand development process? Here we’ll look at the first of 3 stages of brand development: defining your brand values.

Grab a pen. Let’s start building your brand.

DEFINING YOUR “WHY?”

Defining the purpose of your business – not just what you do but why you do it – is crucial for brand identity and awareness. Your “why?” and what your company stands for underpin your entire business strategy, your mission and vision, and inform every business decision you make.

Ask yourself:

• What is my motivation?
• What am I passionate about?
• What difference do I want to make?

WHAT ARE THE BENEFITS OF CLEAR BRAND VALUES?

Attract and retain customers: A 2020 global study revealed consumers are 4 to 6 times more likely to purchase, protect and champion purpose-driven companies – that is, businesses with clearly defined and communicated brand values.

Inspire trust and loyalty: Every marketing narrative for your business is informed by your values, which ensures consistency of brand messaging and authenticity of brand voice. It is this consistency and authenticity that inspires consumer trust in your brand.

Gain competitive advantage: A commitment to defining your “why?” in turn inspires interest in your customers’ needs – that is, defining your “why bother?” Why should customers invest in your company over your competitors? It is this insight that is the key to gaining competitive advantage and developing meaningful products/services.

Attract and retain top talent: Your employees are your customers too; they invest in your business. It is therefore unsurprising that, like customers, employees want to work for and champion companies whose values are clearly communicated and aligned to their own.

Now, you may be thinking, “I haven’t a clue what my business stands for”. Fear not, this is where brand consultants like me can help. For advice on building your brand, email me on lucinda.sloane@thisisbirdmedia.com alternatively look out for my next column where I’ll continue to explain the hows and whys of strategic brand identity.

Visit: www.thisisbirdmedia.com

Follow Lucinda on LinkedIn: www.linkedin.com/in/lucinda-sloane