How should a company position itself on shared values in 2024?

How do companies stand out in a world overflowing with choices and brands?

The answer lies in shared values.

Here’s what you need to know on positioning your company based on shared values and why it’s more crucial than ever.

Understanding Shared Values

Have you ever heard the saying, “Birds of a feather flock together?” This 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.

The common ground, the mutual understanding, bridges the gap between a business and its customers.

The Importance of Shared Values in Today's Business World

Building a brand and a company around shared values has become increasingly important.

But why?

Firstly, it helps to build trust with customers.

Trust is not given freely; it needs to be earned.

Customers who see a company acting on its professed values are more likely to trust it.

Secondly, it enhances employee engagement.

If a company’s values align with the values of its employees, they are more likely to be passionate about working for that company.

Shared values play a pivotal role internally by motivating and retaining employees.

If you’re sold on the concept, the next step is to find your core values.

Dive deep, have discussions, conduct surveys – do whatever it takes to pinpoint the values central to your company’s identity.

Once you have identified your core values, align them with your business strategy.

Aligning your values with your business strategy is like syncing your heart and mind.

Both parties need to work together in order to achieve success.

This is exactly what we accomplished for AgStar PLC by positioning the company on the triple bottom line approach.

We introduced agents of prosperity to work closely with the farming community by sharing knowledge and guiding them towards a bountiful return.

It’s also essential to communicate your values clearly, both internally and externally. Regular communication is key. They can get lost or misconstrued if you don’t speak your values.

Building a community around your shared values is also a great way to foster support, insights, and advocacy. Communities are powerful, and they offer a lot of benefits.

However, there are pitfalls to avoid when positioning on shared values. One of them is inauthenticity. Customers can quickly identify inauthenticity, so being genuine in your values is essential. Also, please don’t worry about overpromising and underdelivering. Please make sure to deliver on your promises.

Finally, checking in regularly is essential and ensuring your values are still relevant and resonate with your audience. Times change, and so do values. So, periodically re-evaluate and evolve your company values.

Numerous brands have carved out a niche for themselves by sticking true to their shared values. From Toms Shoes to Patagonia, it’s not just a strategy; it’s a success story.

Conclusion

Positioning a company based on shared values is not merely a business strategy, but a philosophy and a commitment.

It involves creating a brand that people can trust, relate to, and support. Building authentic connections founded on shared values can truly last a lifetime.

Our team at HypeX has a proven track record of success in helping our clients achieve their goals.

For instance, we started by redesigning the AgStar PLC website and then reworked the entire strategy.

We expanded our efforts to include newspaper coverage and social media marketing and ventured into the export industry.

We also entered the tea packaging and export business, using the produce acquired from the auction of tea estates owned by our sister companies.

Another excellent example of our work is the revamped Osmo Singapore website and the Kids & Teens Pediatric Medical Group website in Los Angeles.

Take a look at these examples, and you will have a clear idea of what you can expect when you work with HypeX to steer your brand toward growth.

FAQs

What are shared values?
- Shared values are the core beliefs and principles a company and its audience resonate with.
Why are shared values essential for a company?
- They help build trust with customers and enhance 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 its customers and employees, negatively impacting 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.