‘If people believe they share values with a company, they will stay loyal to the brand’ - Howard Schultz
One of the best ways to increase conversions and leads for your business is to align your own brand values with that of your customer. Think of some of your favorite brands and what they stand for. It’s likely that their values are the same as yours.
Whether it’s integrity, honesty, inclusivity or accountability, people are more likely to buy if they feel a sense of kinship with a particular company. Let’s take a look at generational consumer values in more detail and how you can apply them to your business to boost growth.
Know your target customer’s age
Your customer’s values will change depending on the generation they were born in.
According to a survey by eMarketer, Gen Z and Millennials (those born between 1981 and the present) value curiosity and knowledge most of all. Gen X and Baby Boomers (those born between 1946 and 1980) value honesty, authenticity and hard work more.
If you haven’t done so already, take the time to determine who your target audience is and how old they are. You can use this information to pinpoint the values your business should adhere to.
Stand for something
As the old saying goes, ‘If you stand for nothing, you’ll fall for anything’.
The younger generations are placing more importance on brands taking a political, economic or social stance, with Gen Z leading the charge. Two out of three Gen Z’ers have stopped or considered stopping supporting a brand that clashes with their own personal values.
One of the best and biggest brands that does this is Ben and Jerry’s. The ice cream company not only encourages customers to vote, but fights for LGBTQ+ rights and even called for the impeachment of Donald Trump.
In the UK, a popular tea brand told someone who had expressed racist opinions never to buy their product again. Although they received some criticism for the move, customer sentiment was overwhelmingly positive.
The takeaway from this is that taking a stand on specific issues can strengthen relationships with customers and encourage brand loyalty. Don’t be afraid to let your company’s opinions be heard.
How to apply generational consumer values to your marketing
You need to apply your values throughout all of your marketing channels. Here are some of the ways you can do this:
· Add your mission statement to a prominent page on your website
· Make sure your messaging is consistent. You don’t want to say one thing in your advertisements and something else on your web pages
· Prioritize your values according to each generation. For example, highlight your activism with the younger generation and promote your integrity with your older customers
· Most importantly – don’t just pay lip service to a value. Make sure your business lives and breathes that value through your company culture. If you don’t, you will quickly get found out!We hope this short guide has given you some insight into your brand values and how you can showcase them to your customers.