How Promises and Values Help You Grow
Successful companies have demonstrated that by creating a Brand Promise and delivering on Core Values, they strengthen their position in the market.
These are examples of Brand Promises:
- Geico: “15 minutes could save you 15% or more on car insurance”
- BMW: “The Ultimate Driving Machine”
- Nationwide Insurance – “Nationwide Is On Your Side”
How to develop a brand promise
A company’s brand is a promise of what they deliver.
On the surface, it seems simple to develop a promise, however, in practice, it takes substantial insight to understand what the company means and how to succinctly present that.
These are some of the questions you may want to consider:
- What offering does my company provide?
- What are the points of differentiation?
- What are the beliefs that guide my business?
What does it ultimately promise to customers, vendors and staff?
Value statements or core values steer companies, allowing them to target market segments, attracts qualified team members and stand apart from the competition.
How to develop core values
Start thinking about your company’s reputation and the way it operates, both internally and externally.
- How do people interact and solve problems?
- How does the organization differ from its competitors?
- What is the company’s “vibe?”
- What does the company stand for?
These may sound like “touchy-feely” questions, but the replies help to identify the company’s perception in the market.
Developing a brand promise and core values requires hard work over multiple strategy sessions. Coming up with the various points takes insight and discussion to discover the true nature of the company.
But once completed, this information is invaluable to guide how the company makes decisions, interacts with customers, vendors and staff and adds to the organization’s worth.
If you’re wondering what Solutions for Growth’s Brand Promise and Core Values are, you can view them here.