Do Customers Actually Care About Your Company’s Values and Mission Statement?
Yes, customers do care about your company’s mission statement and values. They are more likely to engage with your company if your values and beliefs align with theirs. This is because the company’s values and mission statement are guiding principles that provide directions to its employers, stakeholders, and customers. They also outline who the company serves, what it does, and how it aims to achieve its goals. So whether you are a printer company or a firm that makes toner cartridges, you need a good mission statement and company values that align with your goals. A company with a clear and meaningful mission statement and values will also help its customers determine whether the service or products fit them well.
Your Company Mission Statement and Values’ Impact on Customers
According to a 2019 study by Cone Communications, 79% of Americans reported feeling a deep personal connection to companies with similar values. While 88% of people said they would purchase services or products from purpose-driven companies. Values help humanize a company and provide insight into the founders and employers who run and operate the business.
When consumers and employees understand your mission statement and values, they will trust that your company has their best interest and put their money there.
How Values and Mission Statements Have Helped Companies Grow
Here are a few examples of companies that have used their mission statement and values to grow their business.
Patagonia. This outdoor clothing and gear company’s mission statement has helped build the company’s reputation as environmentally conscious. The company has built a large loyal customer base that cares about sustainability and the environment and is willing to pay a premium to access its products.
Tesla. Tesla’s mission statement is ‘accelerate the world’s transition to sustainable energy .’ This mission statement has helped the company boast a brand focused on sustainability and innovation. By establishing itself as a sustainable energy leader, it has attracted top talent and customers passionate about sustainability and innovation.
Amazon. Amazon’s mission statement and values reflect the company’s commitment to providing a wide selection of products at competitive prices and ensuring a positive customer experience. This has enabled Amazon to be amongst the world’s largest and most booming e-commerce companies.
Nike. This brand is being used to inspire and motivate people worldwide. Nike’s mission statement and values have reflected the company’s commitment to designing products that help athletes to be their best. The company has established itself as a leader in the athletic industry and attracts customers passionate about fitness and sports.
Value-driven companies have well-established relationships with their clients and customers. This is because their workforce buys into those values and demonstrates them when serving customers. The customers will pick on those values subconsciously and become emotionally connected to the company.
A mission statement and values are essential to focus on and important for clarity, engagement, and differentiation in your company. Additionally, a well-defined mission statement will help your company attract and retain customers by creating a sense of connection and alignment with the company’s values and goals. So take time to create values and a mission statement that will resonate with your company goals and its target market.