The importance of a mission and vision statement is not to be underestimated. You might think that they only apply to large corporations or social enterprises, however this is not the case. A mission and vision statement can have powerful effects on your employees, your market and your customers. It can retain loyalty for purchasing, create marketing buzz and help establish an emotional connection with the brand. In addition, it assists businesses in finding their core values, which is never a bad thing.
Why do I need a vision and mission statement?
A mission and vision statement helps relay the purpose and objective of your company, informing people of your morals and values, and ultimately what your brand stands for. Customers often seek these statements to consider whether to align themselves with a certain brand or product, which can have huge consequences to emotional connectivity. As a company, you need to effectively communicate your stance within the market and explain how you are different from the competition. Your statements will help you to achieve this.
What’s the difference between the two?
A mission statement is an external statement. It expands on what you want your consumers and market to understand about your business. Whether it’s about leading an eco-cause or creating a tech empire, your mission statement provides a basis for your future actions.
A vision statement is often focused on the internal goals of a business, describing its purpose. This is often driven by a company’s values and norms, and how they reflect internal principles that drives employees and stakeholders.
How do I create a great statement?
Firstly, consider what your company represents and what its core values are. You don’t need to go as far as saving the world, but the statements should aim to achieve a certain goal or purpose.
Secondly, sharing your goals with your employees is essential, as they don’t only represent the business as an entity, but also as a community. Your customers want to see a close-knit business family with visionary ideas.
Lastly, don’t over-complicate it. Even the simplest statements can have a powerful impact. A great example is IKEA’s statement; “Our vision is to create a better everyday life for the many people.”
Need some inspiration? Check out Hubspot’s blog on inspiring mission statements from some of the biggest companies.