Brand tip: Values are valuable

A company's brand is built on its values. And these values can be a valuable asset, if they're used in the right way. Loyal customers buy your brand values, not your products or services. If they were just interested in the products or services you offered they would simply look for the cheapest provider. So if values add value, what are yours?

The recent Whole Foods Market story in the US has thrown up a great example of this. This is a quote from a disgruntled customer: "Whole Foods is expensive but people shop here because they identify with the social conscience of the company - now it turns out that ethos was just a marketing exercise."

This is a wonderful example of why values add value. If the brand values of your company match the values of your target market, they will pay more for what it is you're selling them. Not because the product is any better (necessarily), but because they have an emotional bond to your company, because you care about the things that they do. In this case it's organic food, but it could be driving fast (a car manufacturer) or looking beautiful (a cosmetics company). The same principles apply to Business to Business scenarios too.

Brands are all about creating loyalty, and loyalty to a business is an emotional response, not a rational one.

If you want to know more about defining the values of your business you might be interested in our Brand to Deliver workshop, on Friday 11 September. It's for ambitious businesses who want a better understanding our how their brand can help them to achieve their business objectives. Email jonathan@alderandalder.co.uk for more information.

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