How to position a company on shared values?
In a world overflowing with choices and brands, how do companies stand out? The answer lies in shared values. Here’s the 411 on positioning your company based on shared values and why it’s more crucial than ever.
Understanding Shared Values
Ever heard the saying, “Birds of a feather flock together?” This old adage sums up the principle of shared values.
In essence, shared values are the beliefs and principles that both a company and its audience hold dear.
It’s the common ground, the mutual understanding that bridges the gap between a business and its customers.
The Importance of Shared Values in Today's Business World
Building a brand and company around shared values has never been more important. But why?
Building Trust with Customers
Trust isn’t just handed out freely; it’s earned. When customers see a company acting on its professed values, they’re more likely to trust it. It’s like meeting someone who walks the talk. You know they’re genuine, right?
Enhancing Employee Engagement
Wouldn’t you be more passionate about working for a company whose values align with yours? Shared values aren’t just external; they play a pivotal role internally by motivating and retaining employees.
Steps to Position Your Company on Shared Values
Alright, you’re sold on the concept. So, how do you actually go about it?
Identifying Core Values
This is the bedrock. Dive deep, have discussions, conduct surveys – do whatever it takes to pinpoint the values central to your company’s identity.
Aligning Values with Business Strategy
Here’s where the rubber meets the road. Aligning your values with your business strategy is like syncing your heart and mind. Both need to work in tandem for success.
Communicating Values Internally and Externally
Ever played the telephone game? If you don’t communicate your values clearly, they can get lost or misconstrued along the way. Regular communication is key.
Building a Community Around Values
Communities are powerful. They offer support, insights, and advocacy. So why not foster a community around your shared values?
Mistakes to Avoid While Positioning on Shared Values
Positioning on shared values sounds great, but there are pitfalls. What might those be?
Inauthenticity
Fake it till you make it? Not here. Customers can sniff out inauthenticity. Always be genuine in your values.
Overpromising and Underdelivering
Saying you value customer service but having unresponsive customer support? That’s a no-no. Always deliver on your promises.
Success Stories of Companies Built on Shared Values
From Toms Shoes to Patagonia, numerous brands have carved out a niche for themselves by sticking true to their shared values. It’s not just a strategy; it’s a success story.
Regularly Re-evaluating and Evolving Company Values
Times change, and so do values. It’s vital to regularly check in and ensure your values are still relevant and resonate with your audience.
Conclusion
Positioning a company on shared values isn’t just a business strategy; it’s a philosophy, a commitment. It’s about building a brand that people can trust, relate to, and stand by.
Remember, in the grand marketplace of life, it’s the genuine connections based on shared values that truly endure.
FAQs
What are shared values?
- Shared values are the core beliefs and principles that both a company and its audience resonate with.
Why are shared values essential for a company?
- They help in building trust with customers and enhancing employee engagement, amongst other benefits.
How can a company identify its shared values?
- Through deep introspection, discussions, and surveys that help pinpoint core beliefs central to the company’s identity.
What happens if a company is inauthentic in its shared values?
- It risks losing trust with both its customers and employees, which can negatively impact its brand and business.
Can shared values change over time?
- Yes, it’s essential to regularly re-evaluate and ensure the company’s values are still relevant and resonate with the audience.
