How does a company determine where it wants to be 10 years from now?
How does a company decide their brand personality?
Evidently, the nature of a brand is heavily linked to the brand's mission and vision statement. From this statement, prospects are able to form relations with a brand, while also acting as a brand promise declared by the company.
A mission statement communicates the most important objectives a company - what they wish to achieve with their offering, alongside the relevance and need for their offering. The mission statement of a company is the driving force that guides every business development - it’s what makes your brand dynamic. A brand without a mission is like a brand without direction. Having a mission helps to determine company values, practices and morals, while fueling everything from company products, to sourcing, to accessibility.
A vision statement is a declaration of where a company wishes to be in the future. The statement addresses what issues the company has set out to solve, as well as the expected results. Essentially, this is the hopes and dreams of a company, in terms of the impact or legacy they wish to leave behind for their customers. The vision statement should reflect the reason the company was founded and came to be - with a specific goal in mind, the statement should explain the problem the company was founded to solve.
Think of your mission statement as your why/how and your vision statement as your what/when.
Why do you do what you do, and how will it impact others? What is it that you eventually wish to achieve and what will it look like when you achieve this? While mission and vision statements are often used interchangeably, it's important to understand the differences, and draft both statements for your brand. However, these statements can be communicated interchangeably on your platforms as both should be well crafted, inspiring and precise.
A company without a mission is nothing more than a trend - they'll stay for a season, customers will spend money on them, but in a year from now, no one will remember them. Your mission statement distinguishes you from your competitors - it is the magnetism that allows your customers to resonate with you in particular, over other brands. This is important in attracting ideal customers as well, as customers are attracted to companies with similar ideals to them. If you don't currently have a strong mission statement for your brand, it may be time to revisit the drawing board. Here's some examples of strong mission statements to get you started and inspired.