"But as he which hath called you is holy, so be ye holy in all manner of conversation; Because it is written, Be ye holy; for I am holy."
1 Peter 1:15-16 (KJV)
What does it mean to be holy? One definition given is, "dedicated or consecrated to God...", and that's exactly what we are to be. As Christians, we are told that we must be holy "in all manner of conversation" or conduct. The context of 1st Peter 1 gives us specific things to look after.
First, we are told to "gird up the loins" of our minds (v. 13). In other words, we are to prepare our minds for serving God. Preparing ourselves in this way requires a great deal of effort and shows us how important holiness is.
We are also told to "be sober," constantly alert to the things that tempt us and place themselves between us and God. We must always be ready and willing to choose God over sin and pleasure.
Finally, we are told to rest our hope in God's grace. Knowing that He has provided something for us much better than anything in this life: Heaven and eternal life. The only way to claim our inheritance is to remain holy, through faithful obedience (v. 14).
Not only are we given the instructions for holiness, but we are also given the purpose. God wants us to be holy so that we can spend eternity with Him.