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Gain Brand Equity with the Power of Storytelling

In the corporate world of numbers, slides, and jargons, it is easy to forget the importance of storytelling. There is a reason why the stories we heard as children still resonate with us today – stories are powerful.

While there is a place for numbers, slides, and jargons in the corporate environment, they are not as powerful as stories when it comes to marketing, advertising, branding, and public relations.

Stories are concrete; they work though our imagination. The more we can imagine it, the more concrete the idea becomes in our minds.

Concrete ideas are more memorable. We quickly forget abstract ideas and principles. We hardly remember the chunks of data and statistics. The endless slides soon lose their influence on us. To the contrary, powerful stories remain with us.

Every business brand should find ways to incorporate storytelling to every element in their marketing strategy. Whether it is content marketing, networking event, email marketing, or direct mail, stories sell.

Even when a business is seeking investment or public exposure (PR), stories sell. Telling your passion story, business story, product story, customer story, etc. in the right way and at the right time can make a huge difference to your business.

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Telling your Passion Story

Every entrepreneur has a passion story. Behind every business is a passion. The passion is the inspiration, the events, and circumstances that led to the start of the business.

Every member of the marketing and advertising team of a business should be familiar with the passion story of the founder. This is not only important for internal purpose but also for external (marketing, advertising, and PR) purpose.

Telling your passion story is a good way to connect with your customers and turn them to brand advocates.

When your customers understand your passion story and develop empathy for it, they adopt it as their own story. They begin to see your brand identity beyond the product and service itself.

Most humans want to be part of a cause. We have the desire to be part of something bigger than us – something that can make a difference in the world.

Getting your customers to develop empathy for your passion by telling your passion story will help you connect with them at a deeper level. They see you as an authentic brand and see themselves as more than customers but brand advocates.

Where should you tell your passion story? Tell it on your company’s website, at networking events, in press releases, at any customer-focused events, and on social media platforms.

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Telling your Business Story

Your business story is the outgrowth of your passion story.

Your passion story is the foundation for your business story.

However, for your business story, you want to include other elements that are not part of your passion story. Your business story answers questions like:

  • Why does this business exist (inspiration)?
  • What does this business do (goals)?
  • How does this business do what it does (products/services, process)?

The first part of the question is equivalent to the passion story. The second and third part drills down to the goals of the business and the processes, products, or services that help achieve those goals.

Telling people what your business is all about in a simple, concrete, and memorable way is essential. Many entrepreneurs find it hard to communicate their business story to a non-technical audience in a clear way.

You will tell your business story in varied lengths in your 10-second and 30-second elevator pitch and the “about us” portion of your company’s website.

Integrating the answers to these three questions in a simple, concrete, and memorable way is an exciting task that every brand should embrace. Moreso, every member of the marketing, advertising, and PR team must know this business story and be ready to communicate it at all times.

Telling your Product Story

A product or service story is another opportunity to achieve a deeper level of connection with your customers.

There is a story behind every product whether it is the product that started the business or other products in the lifecycle of the business.

The product story entails the inspiration behind the product idea, how the product idea grew, the transformation from idea to a tangible product, and the different changes, tweaks, and improvements that led to its current form.

A product story has the same power as a passion story. They both help to transform your customers into brand advocates. The goal for every brand is to make the customers develop a passion for the product.

You should tell your product story in tradeshows, on your website, in newsletters, and on social media.

Telling an exciting product story is especially important for entrepreneurs who are just starting out and have to pitch their ideas to investors (whether venture capitalists or crowd investors).

While a product story is a little bit different from a pitch story, every good pitch story will incorporate some elements of the product’s story.

Telling your Customer Story

One of the most important stories that a business brand must continue to tell is the customer story.

More businesses are coming to terms with the importance of telling the stories of their customers. Such stories can be the tipping point that turn visitors, leads, and doubters into customers.

When we know that a product or service has helped another person (especially many persons), it helps us overcome some of our objections and doubts. Reading or watching how it worked for someone else gives us the confidence that it will probably work for us. This goes back to the concept of social influence. The actions, behavior, and experience of others affect ours.

Also, telling the stories of your customers will also boost the confidence of current customers in your brand and improve your chances of retaining them.

Furthermore, when you share the stories of your customers, they begin to feel among, which ultimately leads them to become brand advocates.

You should tell your customers’ stories on your website’s testimonial page, in downloadable case studies, on social media, in newsletters, etc. Turning your customers to your number 1 salesforce is arguably the highest achievement of every brand.

Conclusion

Storytelling is at the heart of memorable brands. Every business must consistently tell their passion story, business story, product/service story, and customer story. Storytelling can provide your company with brand equity and turn your customers into advocates.

Which of these stories are you planning to tell immediately? Your passion story? Business story? Product/service story? Customer story?

Craft your story in the most interesting, engaging, emotional, and entertaining way and go out into the world to shout it at the rooftops.

 

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