Vision and Values
Brands can inspire staff and attract customers. However, if they are to succeed there needs to be a shared vision to give a true sense of direction.
Brand Values
The word ‘values’ is frequently used in marketing, yet there is sometimes confusion about its meaning. Brand values effectively say ‘This is what we believe in and this is how we think our business should be conducted’.
In the case of service brands, where staff are the brand, by understanding brand values, staff have a better feel for the type of behaviour they should adopt to reinforce the brand.
Brand values offer an opportunity for brand differentiation and will attract staff and customers who aspire to similar values.
One of the principles of effective branding is that there should be a low number of core values, typically no more than five.
Brand Vision
If a brand is to succeed, it must have a long-term vision about its future that is adaptable to change. There is no such thing as a ‘correct’ brand vision. Instead, brand vision should consider:
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A vision that will truly stretch the organisation
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A future that is stimulating
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A vision that will motivate staff to achieve the organisation’s desired goals?
Brand should also have a clearly defined purpose, which needs to be more than just increasing shareholder wealth, or making a profit, which is taken for granted as being essential. It is more to do with how the brand will inspire and guide staff.