Your actions speak louder than your words.
Put your money where your mouth is.
Be true to your values.
We’ve had plenty of examples of these platitudes by businesses, such as Chick Fil A and Hobby Lobby being closed on Sundays. But never has there been an example as extreme as what REI just announced.
REI will be CLOSED on Black Friday! One hundred and forty three stores shuttered on one of the busiest shopping days of the year. #OptOutside. Do the math and I bet this will cost them a millions in sales.
I love this!
I am already a fan of REI. I just became a bigger one. REI just told me they care about more than money and profits. REI just told me they believe going outside is more important than going shopping. REI just told me they put their employees ahead of their profits (a paid day off to go outside and play? Genius!!)
REI has earned a higher level of trust of millions of customers with this move. They have shown that their Core Values are more important than the bottom line. The funny thing is I suspect this will help their bottom line tremendously. Yes, it might hurt their top line revenue, but they will make that up in margin from loyal fans who share their values.
Being absolutely and steadfastly true to your Core Values is the easiest and most profitable way to build brand loyalty long term. REI’s decision is going to hurt a little this fall. But a little pain now will pay off huge dividends later.
PS To be true to your Core Values, you first have to know what they are. Then you have to be them openly. Download my Free Resource – Understanding Your Brand – and the accompanying Branding Worksheet to help you identify the Values most important to you and your business. Then figure out how you can put your money where your mouth is.