Branding is derived from identity, so it's important that you explore how to create a vision statement. In this movie we'll answer two important questions: What is the vision of your brand? What are your core values? The answers will help us develop a vision statement which is the center of your brand identity.
- [Voiceover] Branding is derived from identity, and while we've done a number of exercises to refine the identity of your business, there's still a missing piece. What is the vision of your brand? What are your core values? These are essential to any good brand. They should be known amongst the company and perceived by the consumer. If you asked customers to guess the values statements of Zappos, how close do you think they'd get? I'd bet, very close. You see, Zappos encourages their employees to embody the values of the company, and they find a way to express that in everything they do.
They don't expressly state or advertise their values. They live them. And their customers recognize them. If you don't have a vision statement and a list of core values, it's time to put one together. If you do, well now's a great time to re-evaluate it. You want a simple statement describing your vision and then three to five core values. And these values must be important but not verbose. Every six months or so, take an opportunity to re-examine your core values. Are they still relevant or even familiar? Does the team understand them? Your values act like an anchor to your strategy.
If they're too varied, they'll drift and so will your strategy. Declare only values that are central to your brand and revisit them to determine if they need to be adjusted. So let's talk about how you arrive at your vision statement and core values. The first step is to have the founder or CEO draft a vision statement and a list of three to five core values. Next, without sharing the results from step one, have key employees do the same, and don't hesitate to go deep within the organization.
The third step is to discuss the statements with the board of directors or trusted outsiders. Present the findings and set aside time for an open forum to weigh in on what was said. From this meeting, create a draft of the vision statement and list of values. Finally, sit down with senior management and present the draft. Allow them to weigh in on whether the findings are compatible and what shifts may need to happen in their process to commit to those values. Make your vision statement available to everyone within the company and refer to it whenever branding decisions are made.
Explore best practices for researching, developing, visualizing, and managing your brand, and learn about incorporating your brand throughout various customer touchpoints and keeping tabs on your brand as your company grows.
- Components of branding
- Creating a brand strategy
- Conducting a brand audit
- Crafting your vision statement and selling position
- Evaluating brand visuals, colors, and language
- Enhancing brand touchpoints
- Measuring brand loyalty and equity