Value-based marketing – Why values are also playing an increasingly important role in marketing
Nowadays, consumers are exposed to a constant flood of information. This is why it is no longer enough for companies to simply offer good products or services. Customers expect more: they want to be able to identify with a company’s values. This is where value-based marketing comes into play – an approach that is becoming increasingly important and helps companies to build a deeper connection with their target groups through clear values.
What is value-based marketing?
Value-based marketing is based on the idea that companies not only sell products and services, but also values that embody their brand. This involves developing marketing strategies that reflect a company’s beliefs and principles. These values should be in line with those of the target group in order to build a stronger bond and loyalty.
Examples of such values include sustainability, social responsibility, diversity and the promotion of local communities. Today, more and more consumers attach great importance to the fact that the companies they buy from are committed to such ideals. This creates an emotional bond that goes far beyond simply buying a product.
Why values are becoming increasingly important in marketing
Growing consumer demands: Consumers have changed considerably in recent years. Thanks to the internet and social media, they have become better informed and more critical. They want to know where products come from, how they are made and what impact their purchase has on the environment or society. A good example of this is the increasing demand for sustainable products. According to a study by Nielsen, 81% of consumers worldwide believe that companies should contribute to improving the environment.
Emotional connection: People often make their purchasing decisions on an emotional basis. If they can identify with a company’s values, a deeper connection is created. For example, a company that has clear principles regarding environmental protection or social justice has the opportunity to build a loyal customer base. These emotional connections ensure that consumers stay with the brand in the long term.
Differentiation from the competition: In many industries, products and services are often interchangeable. The difference no longer lies in quality alone, but in how well a brand can communicate and live its values. Companies that clearly define their values and communicate them to the outside world create a uniqueness that sets them apart from the competition.
Employee loyalty: Not only customers, but also potential employees are increasingly paying attention to a company’s values. A strong framework of values and the integration of these values into the corporate strategy can make talented employees more likely to choose a company and identify with it in the long term. In times of a shortage of skilled labour, this is an advantage that should not be underestimated.
Examples of successful value-based marketing campaigns
Some brands have successfully implemented the principle of value-based marketing and show how loyalty and commitment can be increased through values.
Patagonia: The outdoor brand Patagonia is a prime example of value-based marketing. The company is strongly committed to environmental protection and has even launched a ‘Worn Wear’ campaign that encourages customers to repair their clothes instead of buying new ones. Patagonia regularly donates a portion of its profits to environmental organisations and has built up a loyal following that identifies with the brand’s values.
Ben & Jerry’s: The ice cream brand is known for its positions on social justice issues such as LGBTQ+ rights, climate protection and fair working conditions. Ben & Jerry’s goes beyond pure product advertising and actively uses its platform to draw attention to important social issues. This has helped the brand to build a strong and loyal community.
TOMS: The shoe company TOMS has done pioneering work in the field of value-based marketing with its ‘One for One’ campaign. For every pair of shoes sold, TOMS donates another pair to people in need. This simple but powerful message has helped the brand create a global movement of ‘giving and helping’ that goes far beyond the sale of shoes.
How companies can implement value-based marketing
There are a few key steps for companies wishing to develop a value-based marketing strategy:
Define authentic values: It is crucial that a company’s values are authentic and not just used as a marketing gimmick. Today’s consumers are quick to see through when a company is only concerned with profit. Companies should ask themselves: ‘What do we really stand for?’
Integrate these values into all communication: Values should not only appear in an advertising campaign, but in all areas of the company – from the website to social media to customer service. The message must be consistent and credible.
Living values, not just advertising them: It is not enough to talk about values – companies must also put them into practice. If sustainability is a core value, for example, the company should also reorganise its supply chain accordingly and communicate this transparently.
Conclusion
Value-based marketing is more than just a trend – it is a fundamental shift in the way companies and consumers interact with each other. In a world where consumers are increasingly looking for meaning and identification, emphasising values can make all the difference. Brands that communicate and live their values authentically and consistently can not only build loyal customers, but also a strong community around them.
