Company values help define the next marketing strategy for your company. No matter what industry you are marketing for, having established values are a necessity. Many businesses overlook the importance of what social justice or other values can add to a business. Having company values can attract the right people to your company. If your business is consistent with its values, it creates a great culture that employees and consumers want to be a part of. Before we lay out the importance of having these core values, let’s make sure we are on the same page.
What are Company Values?
Company values help shape the future of your business. You might not think the values of your company matter. Many times, businesses overlook the importance they can add. When in contrast, they should be the guide behind every decision that is made for a company. These values are the core of a business. Before creating any statement for your business, recognizing what your company holds important can shape everything else in the long term. Core values are only effective when they can be lived out in the work environment.
Examples of Company Values
- Evolve and Adapt
- Be Bold
There are so many values your company could uphold. Having a description of each one and what the values all hold is a great idea. Words can hold a different meaning to each person, so that’s why having a clear description for your values can make sure everyone is on the same page.
Finding Your Company’s Core Values
The core values of your company help define your purpose. The company’s core values help shape the mission, vision, and choices of your company. All of those together lead to a great marketing strategy that your business can use to help connect to its customers.
To start your business’s process of figuring out the values you should know there isn’t a “right” way to go about this. Every business has its unique process to discover them and they vary based on your target audience. Here are some ideas to get your company started:
- What does your ideal workday look like?
- How is the work environment?
- What makes you stand out?
- How is the business living out its core values?
- Are there any strains within our company’s values?
- How are you bringing a core value to life as an individual?
You can use the answers to these questions to start a conversation on how your staff should work. They should encapsulate your organization on a day-to-day basis. They will help guide your company on what to do when challenges arise.
Living Out Core Values
It is one thing to have core values, and another to implement them.
- Living out these values you want your employees to embrace starts with you embracing values based strategies. Leaders of the business should naturally align with the values of the company that are made. It takes time to implement values, especially if you aren’t an emerging company.
- You may have to reteach or let people go that don’t fit the values the company holds. Spending time to teach new employees how to adopt your values will pay off for your business.
- You can also add tactics to help bring to life some of your values. After deciding on the values, you can have a meeting to see what you could be doing to better live them out.
- Place visual reminders in the office for people to remember the values and what they all entail. You might even want to place values as a part of the job description. This can help establish how you especially see them playing out beyond basic tasks performed.
Organizational Value Benefits
When it comes to the benefits core values have on a company the list could go on. They are important and valuable for each company, especially if they are well thought out and reflect your vision.
Build Trust and Brand Loyalty
Marketing is an appeal to customers emotions. If you want people to keep coming back, targeting their emotions is a great way. Therefore, you may find more success if your company shifts marketing from a products based strategy to a social responsibility, customer centric approach. Consumers want to support businesses that share their values. In fact, 87% of consumers want relationships with a brand. It makes the consumer feel good about who they are supporting and increases your business. If they like what your company stands for, you are more likely to keep gaining business from them.
Finding and targeting your community is a part of this process. If people don’t know about your brand, they can’t build a relationship with you. Using targeted advertising on social media or through Google ads is a great way to get your brand out there. Your company can do a campaign targeting the emotional appeal of the audience. This will leave lasting impressions on your audience.
Being transparent with consumers today is so much more important than it has been in the past. People appreciate transparency from brands. A way to incorporate this is by using value-based marketing. It can build a community that stands by your business. You don’t need to offer the lowest prices to build a community. Values can be the connector that consumers desire because it offers a more authentic relationship.
Helps Your Business Through Tough Times
Challenges will arise no matter how prepared your business is or how good its products or services. External effects especially can cause a lot of commotion for a business. Having core values makes sure everyone is on the same page and working towards the ultimate goals of the company.
If your business is experiencing a bad reputation from online reviews and other things, you can get help from your employees. This will help the company not fall because of bad reviews. It can also gain back trust from previous clients. Having loyal employees standing by your side in these challenging times is something you will appreciate. If you hire the right person for your business, they will serve you if you show value and appreciation for them.
Company Values and Hiring Employees
Before selecting the best candidate for an empty position, you want to make sure you define your culture for them. If it is a great fit into both party’s values, it can create a better turnover rate for your business. If you hire people that don’t fit within your company, it will hurt your business.
Finding people that not only are qualified candidates but also have an attitude that adds to the community of your business is the best way to find future employees. These employees will serve your company better by working harder because they believe in what the business stands for.
Earn More Money
Loyal and active consumers help your brand earn money. Establishing company values goes a long way. This can help your business save money on advertisement and use segmented email marketing for customers returning to your business. Creating an email list and letting those members know what is happening in your company can deepen the initial relationship established with a customer.
Company values will also save your business money by not having to keep replacing employees. That can be expensive! After advertising, interviews, training, and other accommodations for the new employee, it can all add up to be a lot of extra money. Core values help provide employee satisfaction. Right from the start, most employers know if the new employee fits the culture or not. If they don’t, they should consider adding value-based questions in the interview to see how well they fit within the company’s values.
Marketing Your Business Core Values
Don’t Market without Core Values
If you are a business marketing without core values, your company’s advertisements are probably ineffective. You can’t guide a customer’s behavior if you haven’t first clearly defined your own business. A values based marketing strategy is an important approach to a customers emotions.
Build a Brand with Core Values
Building a brand based on core values will help establish how to market to people with similar interests as your brand. This increases multiple areas of your business including your brand’s engagement. You need to get to a deep level with people for your marketing strategies to be effective.
Values Create Accountability
Get ready to be held accountable for your actions, especially by consumers. If you aren’t in line with where your company’s values are, your customers will notice and say something. Having these values reflected in your marketing campaign helps your company stay true to who it was created to be. It helps if your business is transparent and can recognize mistakes. Making changes that follow the values your consumers are there for is what your followers want to see.
Try Value-Based Marketing Today!
Start incorporating company values into your next marketing strategy. It can help bring in business while sharpening the focus on the overall purpose of your brand. There are many different elements when it comes to creating company values. Figuring out what works for you is the most important thing.
If you need help to decide how to incorporate value-based marketing in your company and how to be effective with it, contact SEO Design Chicago today! We can serve your business at any step of the marketing process. We have experts who are looking forward to helping your business reach its maximum potential.
- Why are values important in marketing?
- What are some examples of values?
- How to figure out core values for a business?
- How to live out core values in a company?
- What are examples of living out company values?