Where does customer loyalty come from?
Think about those brands that you purchase from over and over, even when there are cheaper options out there. Do you usually fly on a particular airline? Do you buy your coffee from the same place every morning? Do you recommend a specific restaurant whenever out-of-towners ask for suggestions?
Often, the reason we stay loyal to brands is because of their set of values. The best brands strive to combine physical, emotional, and logical elements into one exceptional customer — and employee — experience.
When you successfully create a connection with your customers and employees, many of them might stay loyal for life — and you’ll have the chance to increase your overall profitability while building a solid foundation of brand promoters. But achieving that connection is no easy task. The companies that succeed are ones that stay true to their core values over the years and create a company that employees and customers are proud to associate with.
That’s where company vision and mission statements come in. A mission statement is intended to clarify the ‘what’ and ‘who’ of a company, while a vision statement adds the ‘why’ and ‘how’ as well. As a company grows, its objectives and goals may change. Therefore, vision statements should be revised as needed to reflect the changing business culture as goals are met.