Values-based marketing campaigns are a way for companies to appeal to their customer’s values and ethics. It lets you shift your marketing from a product-focused approach to a customer-focused one. By doing this, a company can showcase their values as part of their core brand message.
With COVID-19 still affecting the United States, many brands are joining in the efforts of giving back and providing assistance. Many top companies use values-based marketing to help local communities, frontline healthcare workers, and others by shifting the focus from their product to the common good.
Values-based marketing can help you take action in a variety of ways. You can make a donation or fundraiser, post messages of positivity or awareness on social media, or create a call to action to push change in your community. While these are ways to take action, below are the many benefits that can come from values-based marketing.
Social Responsibility
There are times when an organization’s corporate statement may include values-based goals. These can include initiatives related to economic or social justice, eliminating negative environmental impact, and increasing generosity toward the communities where they do business.
Business Alliances
A company may use business alliances to help achieve their values-based objectives. This is most effective when alliances relate to delivering value to help communities. For example, a Wisconsin financial institution, WESTconsin Credit Union, developed a business alliance with auto dealerships to help develop an auto-assistance program. In the end, they helped more than 100 low-income, single parents purchase vehicles.
Customer Values
Discovering what customers value is an important part of developing a values-based marketing strategy. You should pay attention to quantitative data that reports what customers preferences are. Also, qualitative data can provide important insight on customer values through surveys and focus groups. As a company, you can then develop a values-based marketing strategy using the vision and mission statements to help articulate customer-centric goals and objectives.
Align Your Company’s Leadership Team
Many look to community leaders during uncertain times. Your company’s leadership should set an example and serve as an extension of your brands communications and values. You should ensure that your executives advocate for the cause that your company supports.
Work with Partners Committed to Your Long-Term Efforts
You need to make sure that you’re compliant by getting approval from the organizations prior to creating a campaign. It’s easiest to focus on working with an organization that you already have an established relationship with to help show that it’s a long-term commitment and developed partnership.
A Simple Call to Action
There are many values-based marketing campaigns that have an extreme list of instructions to follow to get funding for a cause. These extreme actions become a big ask that holds people back from contributing. By making it too difficult for people to participate in your cause, you can end up having an unsuccessful campaign. It’s important to remember that a simple message or call to action will take your campaign farther than anything else.