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Posted: January 2, 2019
By: Janet A. Johnson
Have you ever wondered why similar companies try the same marketing strategies but get totally opposite results? Many people will say, “doing the same thing doesn’t guarantee the same results.” While this is true, one of the primary reasons for the same brand marketing strategy yielding contrasting results is different values.
Brand marketing involves raising the visibility and awareness of your brand, thereby improving your brand recognition. Having shared values with your customers is one of the best brand marketing strategies you can adopt. Let’s see why.
The term “shared values” has to do with sharing core values. Let’s look at some of the benefits.
Brand loyalty is every manager’s dream. It is the reason why long hours are spent developing a strong brand marketing strategy. Shared values are actually vital factors in any purchase decision. About 64 percent of consumers admit that they have strong relationships with brands because of shared values.
Customers that are aligned with your business values tend to stick with you even if you don’t have the most competitive price. This is backed up by the fact that about 73 percent of customers don’t mind spending more on a brand they love.
The easiest way to communicate your business purpose and goals is through your values. Having shared values with your customers will help them understand your business purpose. When building your brand marketing strategy, it is essential to consider your company values. This way, you can adequately communicate what your brand stands for to your audience.
A few decades ago, much of the information available for public use today were termed proprietary information. I guess that’s one of the perks of the information age. This has made it essential for businesses to show a high level of transparency to their customers.
When you have shared values with your customers, you give them the idea of openness and transparency. It makes sense that when investors and customers see that you have nothing to hide, they want to transact with you.
Now that we’ve seen some benefits, let’s look at how we can go about implementing this into our brand marketing strategy.
Shared Values as a Winning Formula to Business Success looks at the importance of shared value with employees with strategic planning. It is important to note that customer shared values should also be considered as it will set the tone for finding your ideal client and devising your marketing plan. Let’s look at how you can go about this.
The idea here is to make people from different demographic and background feel like part of a collective unit. From the conversations you start, share, and join, you can demonstrate to your ideal customers that you share the same values as they do. This then leads to the growth and stability of your brand.
You can find an excellent example on the Virgin website, where Richard Branson shares tips on business, startups, politics, and so on. By creating a kind of community where different matters relating to the company values can be discussed, you make your customers feel like part of something big.
Of course, saving the world is very good. In fact, we should all aspire to do so. However, what we are talking about here is humanizing your brand. Ensure that posts made about your brand are relatable to your everyday customer. The post should seem like its coming from someone everyone would want to have a drink with.
Take time to understand and figure out what your ideal customers really want. Some customers would rather discuss issues with themselves rather than bringing it up with you. It is your job to figure out what these issues are.
By connecting to your customers on various social media platforms, you can keep yourself updated on what they feel about your brand.
The most important thing to note is that it is up to you to align with your customers, rather than the other way around. While growing your brand community, ensure that you contribute contents that are in line with the values of your consumers. The trick is to focus on bringing people closer together. This is as opposed to trying to bring them to your brand.
The benefits of having an excellent brand marketing strategy cannot be overemphasized. One sure way of achieving this is by having shared values with your clients. This helps your customers understand your brand purpose. It also builds transparency and trust, and ultimately brand loyalty.
If you haven’t considered the idea of having shared values with your customers, then, you need to consider it today. There is a way shared values form a sort of connection between your business and your customers. This connection is what makes them keep coming back.
Hi, I am Janet A Johnson a Management Consultant and Life Coach with over 15 years strategic program/project management and business management experience. I am the owner of StrategyNook LLC, a consultancy agency specializing in strategic project management, business management, web development, branding, internet/social media marketing, life coaching and stress management. Schedule your free consultation today and let's talk strategy and customized solutions.
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