Positive impact: differentiating through Values

Note: Each month, The Rosy Blog highlights a different theme in our weekly posts. In May, our theme is standing out from the competition through smart differentiation. We’ll be sharing examples of brands that have gotten it right.

It’s been well established that today’s consumers are increasingly basing purchasing decisions, at least in part, on a company’s commitment to social and environmental responsibility. Consider this: 73% of global Millennials are willing to pay more for goods and services form companies that are committed to sustainable practices and impact.

But, it’s not just about meeting customer expectations. Companies are often born out of the desire to solve a specific problem. And those tackling social problems are attracting investors and employees. For these companies articulating values and creating a business model that supports them is key. They also have the opportunity to authentically differentiate based on those values.

It’s possible that consumer demand will result in values-driven models becoming table stakes–just something that a company has to do to get in front of certain customers. (We’d be fine with that!) But, there are still opportunities to disrupt through a commitment to doing good.

TOMS is an excellent example of a company that is so values-forward that in the beginning it almost felt like the product was the values rather than the shoes. The idea, which they call One for One, was, and is still, so simple: buy a pair of shoes and TOMS donates a pair to a child in need. Founder Blake Mycoskie wasn’t actually trying to sell shoes, he was trying to provide shoes to children in need. Selling shoes is what would make that possible.

Breaking into the crowded shoe category is no easy task but TOMS’s values-based brand was more than a breath of fresh air in an industry plagued by supply chain and labor scandals–it was a revelation. They proved it was possible to do it better by doing good. And consumers bought in. Since 2006 TOMS has grown to $500 million in annual revenue, employs 500+ people, and has donated more than 70 million pairs of shoes. And they are replicating the One for One with other categories including sunglasses (prescription glasses), coffee (clean drinking water) and bags (skilled training and birth kits for birth attendants in areas with little access to medical care).

Of course TOMS is an extraordinary example and not all businesses will be able to operate the way they do. But, they are a powerful testimony to the impact a brand’s values can have on the world and how living them authentically can create a deep resonance with the consumer that makes your brand stand apart from the crowd. If you’re feeling inspired to know what your values can do for you the first step is articulating them.

Need some help to get started? We got you! Check out our values guide, part of the Mission, Vision, Values Workshop that’s simple and fun for you and your team to complete on your own. But, if you need some help, you can always give us a ring.

Photos by TOMS and Jeremy Perkins on Unsplash.