An organisation’s statement on what the company is all about, its standards and what its potential clients may expect from them in the long term. The value statement is the soul of the company.
Components of a value statement:
A value statement is a message that conveys the value and priority of the company it represents.
Where is a value statement used?
Value statements can make an impact on the organisation’s internal as well as the outer part. It can be used as a guideline for operations and building trust by marketing with the core audience.
Is a value statement a marketing Jargon?
Yes, it is! The value statement helps propose to the clients with promise information about how they work and are doing things. It also helps in building trust between the clients.
Difference between mission vision and value statements
- Value statement: Things that are important to your business, its priorities and code of conduct
- Mission statement: The reason why your company exists and its aim in the short term
- Vision statement: a long-term view of what the company wants to achieve
What is the core need of a value statement?
The value statement shows what the company believes.
Why does every organisation need a value statement?
Value statements make a good ROI in marketing campaigns because of the trust they can be building for the organisation.
A good value statement behaves like an anchor across almost every aspect of the organisation.
What are the expert recommendations when it comes to value statements?
- Denise Lee Yohn recommends banning the following five words from making an impact on the consumer;
- Ethical / Integrity
- Customer-oriented / customer-centric
- Your values should reflect your organisation and not an old business. If they sound like an old business, chances are people will not be able to remember and forget about it and the organisation.
How long should a value statement be?
A compelling value statement contains tone, content, and intended audience in alignment, It should also convey the core of the organisation. Once these things are covered, you are good to go!
What are the preferred locations to write the value statement?
It depends on whom you have written the value statement. If it is an employee-oriented value statement, You can write it on an employee portal.
Is a value statement the same as a mission statement?
No, a value statement and a mission statement are two different things. A company’s value statement is not about the business. It’s about the culture they support. The mission statement shows what the company aims for and the reason why they are currently doing the business.
Examples of value statements
- Act like an owner
- Default to action
- Overcommunicate everything!
What is the value statement of Facebook?
Facebook has multiple value statements, yet they have kept the focus on a single area and influenced people to take action.
- Be bold
- Focus on impact
- Move fast
- Be open
- Build social value