business

Start Focusing on Brand Values

Last year, Burberry made news when they burned $37 million worth of their “outdated” clothes, so the “wrong kind of people” didn’t get a hold of it.

Imagine prioritizing your image, so far above the needs of other people, you simply burn something you didn’t use. Instead of repurposing or recycling their clothing, Burberry decided to “maintain the exclusivity of their products.”

In protecting their brand image, they showed their true brand values and got it all wrong.

Businesses that position their brand as relevant, experience-driven, and with similar values will far outsell brands that don’t.

Take designer brand, Eileen Fisher, for example. A brand built on simplicity and style is making headlines for being one of the few brands not specifically targeted to millennials, but still attracting them.

In 2009, the brand founded its first recycling project, called “Green Eileen,” to reduce their textile waste and target a new audience. The program receives around 2,000 pieces of clothing per week to be cleaned, repaired, repurposed, and resold. Last year, the initiative generated an additional $3 million in revenue for the brand.

In a world where one wrong tweet can tarnish a brand, companies need to focus more on aligning their brand values with their target audience. It creates a deeper relationship with the customer and might even attract varying age groups you wouldn’t normally target.

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