When you want to build a strong brand for your company, you should always start with getting your mission and vision statement clear. This will not only help you in identifying who you are, but it will also give you something to hold to in the strategic planning process.
While a mission and vision are both needed for strategic decisions, they serve different purposes and are often confused with each other. The biggest difference between them is that one reflects the present, while the other one focuses on the future. Let’s have a closer look at these two statements, see how they’re used and study some examples.
A mission statement explains the reason why a company exists. It includes its purpose and strategic or operational intention. A mission statement talks about the company’s goals and approach to reach these desired goals. The statement should reflect every aspect of your company, ranging from employees, products, customers to technology and survival.
- It answers the questions: What do you do? What makes you different?
- Talks about the present
- Its purpose is to inform
- It drives the company
Let’s say you are an e-commerce website, that focuses on selling kitchen tools.
Your mission statement will be something like:
We strive to offer customers the biggest collection of kitchen tools online, at the most affordable prices.
A vision statement looks forward and outlines where you want to be. It’s inspirational and gives people a deep and enduring purpose. A vision statement is long-term and won’t change over time. It’s often used an important tool for employees, so they understand the aim of the company and are inspired to contribute to this.
- It answers the question: Where do you see yourself in the future?
- Talks about the future
- Its purpose is to inspire
- It gives your company direction
When we look at our kitchen tool store again, we can make up a vision statement like this:
We want to be the most kitchen-centred company, where customers can buy any kitchen tool online.
With your mission and vision statement clearly defined, you have a starting point for other aspects of your marketing strategy. Your mission and vision give direction to your brand story and will help you by setting KPIs and targets for your future endeavours.