There are a lot of branding jargon out there. Brand promise, attributes, personality, essence, value proposition… And there are often overlapping definitions for many.

I believe one of the most important elements of a brand is its values. Similar to one’s personal values, brand values provide direction on how a company should consistently act. Values are the things you identify that are important to you and how you should behave accordingly. This guidance is by far the most useful in making decisions and in helping employees to know how to act in a given situation.

If a brand values the highest level of service (i.e. Four Seasons), then they know they need to deliver that, even if it’s difficult and will cost more money. If they value low cost (i.e. Southwest Airlines), they know they can’t include some extras, even if their competitors do.

Zappos has among the most clear and meaningful values for a company. They have ten core values, such as “Deliver WOW through service;” and “Do more with less.” The Zappos customer experience is a culmination of those ten things done consistently. They are necessities to the brand. If they stop doing those things, they stop being what people have come to know as Zappos.

True brand values are not simply inspirational quotes or generic platitudes. The true test of a value is whether a company would continue to live up to it, even if it wouldn’t lead to one more sale or make any more profit. In fact, it may cost them to do it without any extrinsic benefit.

Standards, on the other hand, are the minimum level that you, as a company, are willing to live with. That’s why brand (guidelines” (like logo clearspace and color palette) are often synonymous with “standards.” These are mandatory things that must be followed, not because they’re necessarily important, but merely because they’re the minimum level you need in order to simply function. Customer Focus, Innovation, Teamwork are not values. What company would say we are not any of those things? They’re merely helpful reminders that at a minimum we should keep these things in mind. It’s not bad to have them. But, don’t fool yourself into thinking they’re values.

Standards are minimums. Values are necessities. Subtle, but it’s the key distinction when you’re trying to build a distinctive and meaningful brand.