Storytelling is a big story in itself, in the world of marketing. And with good reason.
Research suggests that:
- 55% of consumers are more likely to remember a story than a list of facts
- Storytelling can increase a product’s perceived value by 30%
- Brands that tell compelling stories can enjoy a 20% increase in customer loyalty
How does the magic work?
First, a memorable story reinforces a brand’s unique value. But only if the story brings that value convincingly to life. Secondly, well-crafted stories create an emotional bond between brand and customer. Narrative engages our attention, our senses, and even our muscles. Stories generate empathy and identification. But only if they resonate with their audience.
So, if you want your brand story to work, you need to align it with your value proposition and the needs of your customers.
Narrative can bolster value propositions and foster deeper customer relationships.
Today, I had the pleasure of tuning in to a CIM webinar to refresh my thinking on:
- Why brands need stories: transforming unique brand assets into meaningful and memorable narratives.
- Creating persuasive stories: explore the key features of any effective story, how to structure brand narratives and where to find the most powerful characters.
- Integrating narrative into a brand strategy: applying the core techniques of storytelling across content channels and throughout the customer journey.
I learned about powerful techniques to get things right first time and save money and time, including SPQR (Situation . Problem . Question . Resolution) and about the Narrative Arc above.
Stories are most powerful in relationships with customers, next most powerful is with employees. But the story needs to be plausible and within the company, it is more tricky to convince.
The difference on telling stories with products v services is that it is difficult to ‘hero-ise’ services. The services need to be brought to life more vivdly.
In FMCG pricing is key but price along won’t sell. Authenticity and storytelling helps in all cases and it can help to combat price differences and support premium pricing.
The story voice is also important, its tone and emphasis.
CIM has a Marketing Training Hub with a wide range of content and new online courses which cover topics such as, ‘AI’, ‘Copywriting’ and ‘Marketing Communications’ but contact us if you would like more guidance.
Happy Listening! Happy Reading!