The Value of Values

| | Comments (0) | TrackBacks (0)

We're currently working on two new B2B brands. One is a well backed start up and the other the result of an MBO of the division of a bank. Part of the process is to define the brand values and this can sometimes be an arduous process. In these cases however it has been a (relatively) straight forward exercise and that has given me confidence for the future success of both brands. Why has it been so stright forward?

It's all about the management having a clear sense of what it is that makes the business what it is - essentially the culture. So if it's as easy as that why do so many businesses get it wrong? And believe me they do. I had a look at the "Best Brands" listed in the Business Superbrands book. (I have to admit to a prejudice against this book) but it is a single place to find the values of many of the UK's "leading brands" just to remind myself of some bad examples.

All too often they include the values that are a pre-requisite for a succesful business today - Honesty (uh!), Customer First (that's a distinct idea) ... I could go on. Your values are your chance to focus your employees on what is distinct about you and since having too many is confusing you need to focus on the values that make you what you are. It's important because your brand will reflect your values, the experience of interacting with your business will be what your values feel like at the recieving end and they are what give you a distinct personality.

An example of distinctive value would be those for TNS, the market research business, they are: Wit, Intelligence, Attitude and Imagination. Combine them and you have a really unique personality and one that is recognisable and believable.

So if you're rethinking your brand remember the importance of clear and distinct values. There's a good definition at http://www.brandchannel.com/education_glossary.asp and in other places and what they all say is that your values should act as a benchmark against which to judge the brands behaviour. In B2B it goes further - it's a benchmark against your employees also need to judge their own behaviour since in most cases they are the brand!