Maybe you’ve heard a mission statement described as a “value proposition,” or “customer guarantee” before. It can go by many names, but each aim to answer the same question: What is your business doing for its consumers?
All businesses must have an audience to serve in order to survive. A mission statement helps potential consumers understand concisely what your business is doing to serve them. This proposition is a key factor for planning future marketing strategies- it’s essentially the selling point for your company. Here’s why having a well-defined statement is important, and a few tips on how to improve yours.
Giving your consumers a clear idea of what to expect out of your company is important for building a trusting relationship. This transparency comes in handy in public relations situations as well. When a company is being faced with any kind of unforeseen negative press, transparency will be important to show the public at large that you are attempting to regain trust. The value proposition that defines your company is, therefore, pre-insulated leverage to help you through the stickiest PR crises.
It’s much easier to lead a team of people if everyone on that team understands their one defining objective. Having this objective defined can help in circumstances when employees, representatives, and even leaders are faced with challenging dilemmas. We can see that defined value propositions also help ensure that marketing objectives are consistently aligned with company values. The proposition works as a screening method to ensure your business can stand behind the messages it projects.
Structuring Your Mission Statement
There are (or, at least, should be) 3 main parts to any successful mission statement: the purpose of the business, the strategy to serve the proposition, and the values of the company serving it.
The purpose in this context directly means the purpose of your business. However, it is meant in very broad terms. The purpose isn’t so much “What are you selling?” but rather “Why are you selling things?” Are you trying to change an industry? Improve lives? Maximize growth? Whatever your overall, long-term corporate goal is essentially your company’s purpose.
The strategy brings us to the more specific side of the value proposition. What are you selling people? Think hard about what you are trying to sell your audience. To some it may be an easy task- selling a product is generally just selling a product. But services can sometimes be slightly more hard to conceptualize concisely. Be sure to also include here what the scope of your business is. A great way to imagine scope is by thinking about what your company doesn’t do. Be clear about the limits the business plans on taking its products and services to.
Values are the icing on top of a great mission statement. Typically, the specific values you define for your company are what will set you apart from your competitors. Two businesses may approach a similar industry with a similar product, but the way they shape corporate values can greatly shape overall trajectory. Values define company culture and business principles, which will be key for defining the future of the organization.
Did you know Strategic & Creative Marketing offers a FREE Marketing Snapshot consultation, which helps assess if your value proposition resonates in your marketing? Sign up for yours today!
Excerpted from Nishant Sinha of Customer Think: http://customerthink.com/value-addition-in-marketing-plan-through-mission-statement/