The #MarketingMinds wrap up: Brand Values
Q1. How would you define the term ‘brand values’?
@hst believes that brand values represent the core principles that help to give a brand meaning. Brand values can come in the form of concepts and emotions inherent to a brand’s product offering, culture, and image; all of which help greatly when positioning a brand in the market place. @spustrategic explains that such principles can help drive profits by framing and managing the audience’s views and opinions.
Q2. Why are brand values important?
As mentioned above, brand values help a company stand out from the competition. In addition to this differentiation, @hst comments that brand values also express leadership and a commitment to innovation, while @spustrategic emphasises brand awareness and emotional connections as reasons to pay attention to brand values.
But as @AgentPalmer points out, simply knowing the benefits of brand values doesn’t automatically lay the path to success. To see real impact derived from brand values, the whole organisation must be on the same page.
Q3. What programmes or tactics facilitate the communication of brand values?
@hst suggests the being involved in events and sponsorship deals can help communicate what a brand is trying to express. But ultimately, transparency and practising what one preaches is key, according to @AgentPalmer.
Q4. How can we determine if communicating the brand values has been successful?
One option is for finding out whether brand values have resonated with the audience is to conduct primary research at events where we have an opportunity to speak with our audience face to face. Alternatively, @hst suggests social media monitoring; through monitoring we are able to understand key themes that have developed around our brand and whether they match our intended brand values. Find out more about how Meltwater can help manage brand reputation via social media monitoring here.
Q5. Offer one example of a company that successfully communicates brand values and explain why you think they succeeded.
Innocent drinks is one brand that #MarketingMinds participants feel communicates their brand valued well, @hst states the reasoning behind this is a result of their consistency. Meanwhile, @thejbrads feels that Red Bull’s sponsorship of high octane sports is a great example of showcasing their brand values as this creates perfect synergy with the idea of taking energy to the extreme.
Have your say during the next #MarketingMinds, check out the next topic and questions here.