The term “why statement” gets thrown around quite a bit among branding and marketing professionals. But what does it actually mean, and how can having one help your business?
A why statement is the phrase you use to explain the motivation or purpose of an entity to change the world for the better.
The concept of why statements goes hand-in-hand with Simon Sinek’s idea that “people don’t buy what you do, they buy why you do it.” In other words, people don’t make buying decisions with their heads, but rather with their hearts – in fact, research shows that a whopping 95% of consumers make buying decisions with their subconscious, rather than rational, minds.
But a surprising number of small businesses still sell to customers’ intellect rather than their emotions, which often leads to poor sales and slow growth. In a world where there are an infinite number of buying options, you need to speak to customers’ hearts, not their heads.
How can you do this? By uncovering your “why”, so that you, your employees, and potential customers are clear about why your business exists and what it hopes to accomplish. You can find your why statement by using this simple formula:
Why statement = To primary contribution so that primary impact
- To help business owners simplify their accounting processes so that they can spend less time and money on organizing their finances.
- To educate people on the value of nutrition so that they can live healthy, fulfilling lives.
- To make it easy for the elderly to use technology so that they can remain connected to the changing world around them.
Those people and businesses that understand their true “why” are likely to find and make strong connections with people who believe what they believe. People are far more likely to do business with companies that share their values, so connecting with like-minded individuals is crucial to small business success.