T he brand value is the “internal” part of your brand that guides the relationship that you have with your customers. It is the part of your marketing that shows your purpose and your personality. Your brand value is related to goals, hopes, and expectations.
Your brands value definition should be:
- Memorable. If you want your customers and employees to have an impact on themselfs and remember your purpose and beliefs. Represent your values with the things you do and say.
- Unique: Your ideas need to represent your companys structure. Like every other part of branding, the definition of the values needs also to be unique and represent your identity.
- Actionable: Use actionable language. Try to explain how you do things and how you reach your promise. The value definition is not a slogan.
- Meaningful: Give meaning to what you are saying, do not just choose random beautiful words. Include things and concepts for which you are willing to fight for.
- Clear and defined: You have to be sure that what you stand for is presented very clearly. Your value should be understandable for your customers.
- Timeless: Your value should remain strong and consistent. Your value should grow with you over the years but not change.
Find your brand value
- Discover what matters. Forget the idealized terms and find the words that make your brand powerful and unique. Choose ideals that appeal to both, your co-workers and your customers, and start building a community based on them.
- Know your customers and competitors. Think about the needs and expectations of your customers, while considering the pre-existing solutions that your competition has to offer. Analyze your competitors and find the gap in the market and concept your value as a help to differentiate you from the other offers.
- Stand for something. Find out what your customers already associate with your company and try to grow your brand values from that. Once you have it, fight for it and advertise the effort you put there.
- Stay consistent. Think about how you can simplify what you stand for into a few words that can act as guidance points for your business team. The more your team can understand your values, the more they can maintain a constant image for your company.
Types of brand values
- Product leadership. When the brand value is focused on the product or service, then you have to think beyond the price. You always have to work on innovation and the highest quality on the market. Your team needs to be totally focused on innovation and testing processes.
- Operational excellence. Companies that focus on operational excellence in their brand value proposition are more concerned about giving the best experience for the lowest prices. You are not focused on coming with new, better products, but you want to give your customers a constant experience that they can effort.
- Customer relationships. Brands that idealize customer relationships rely on the power of their unique experience. A company that differentiates itself by customer relationships should have more than just great customer service. You need to know as much as possible about your customers and deliver them the right products, services, and solutions at the right time.
Brand value examples
Apple brand values. “Think different” campaign, was established by apple to make clear their brand value. Apple is focused on making the best, most creative products in the world while keeping technology simple for the masses. The value of the brand is to be focused on quality over quantity.
Nike brand values. Nike’s mission statement was to “Bring inspiration and innovation to every athlete in the world”. However, Nike’s brand value says that anyone who has a body is an athlete in their eyes. Nike is about encouraging success, motivating athletes, and reminding everyone (no matter their fitness level) that they can achieve their goals.
BMW brand values. Most customers associate BMW with high quality, premium products and experiences. BMW’s brand values focus on providing premium products and services to the automobile industry. BMW doesn’t just make great cars, they create “Sheer driving pleasure“. The brand says that each of these brand values come together to create the idea of a truly sophisticated brand.
Lego brand values. The Lego brand values center around creativity, fun, and imagination. Lego takes the concept a little further by introducing values that appeal to parents, as well as children. For example “learning” opportunities, great customer service, and incredible quality.