Businesses or organisations don’t begin life fully formed. Invariably they start small with a specific focus or activity that solves a set problem or provides a specific service.
In order to grow successfully, a business needs a good road map and a reliable compass. A business’s mission statement is the road map. Identifying the destination and key milestones to keep the business on track. It sets out the objectives for the business and helps with strategic planning and growth to enable the business to achieve its goals.
The values and vision statement are the compass. These keep the business oriented and set out the beliefs and principles that are critical to informing and guiding the business, its activities, and the way it behaves and interacts with its audiences.
The vision statement announces succinctly to the world what the business does and why it does it. It sets out the ambition, aspirations and long term goals in a way that can be easily understood by its key stakeholders and other audiences.
The business benefits for brand building
There are significant benefits for a business with a clear brand strategy. These include:
Strategic planning & management
- Helps set priorities and guide planning within the business.
- Ensures new strategic objectives or milestones align with the company’s
long-term goals. - Shortens the decision-making process when situations demand change
within the business. - Acts as a benchmark to evaluate new business opportunities or potential
business partnerships. - Ensures the business moves closer to its vision and goals as it grows.
- Acts as a unifying force across the business’ activities/departments to ensure everyone is pulling in the same direction.
Market differentiation and position
- Helps define and articulate the unique characteristics of the business.
- Develops a unique company culture/personality.
- Differentiates the business and make it stand out from competitors.
- Defines your chosen position in the market.
Audience engagement, brand strength and reputation
- Helps to shape messaging and communications to external audiences.
- Ensures consistency and alignment of messaging and communications across the business.
- Ensures consistency and alignment of messaging via all channels of communications employed by the business.
- Attracts and engages with target audiences/potential customers through consistent value driven messaging and tone of voice.
- Ensures a consistent business voice, helping raise brand awareness and increases credibility and trust amongst external audiences.
- Ensures consistency of communications, helping in the cross selling of services to existing or potential customers.
Hiring and retaining the best people
- Helps attract and retain the right people for the business.
- Helps to guide recruitment and promotion within the business.
- Inspires and motivates employees by providing a clear sense of purpose and an understanding of where the organisation is heading.
- Helps employees understand how they fit within the business and helps to focus and align their daily activities with the goals of the business.
Improving the bottom line
- A McKinsey report found that when people understand and are excited about the direction their company is taking, the company’s earnings margin is twice as likely to be above the median.
- They can have a positive impact on overall organisational effectiveness and profitability.
