How storytelling can boost your bottom line

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3.5 mins

Tuesday, February 18, 2020

What separates some of the biggest brands and businesses in the world? 

A story.

But a story isn’t special without great storytelling.

Storytelling can instill value into your brand, helping boost salience and giving customers a reason to choose you over competitors. 

Think of a luxury brand like Louis Vuitton. The french brand, named after its creator, has been operating since 1854. That history is embedded in all its products, marketing, and certainly their prices, through storytelling.

You can do that with your own business by thinking back to the six pillars of storytelling: Who, What, When, Where, Why and How. 

The Who

Storytelling helps to not only deliver knowledge about your business and product or service, but also build a brand. Think of storytelling in the business sense as engaging, educational messaging that tells your story and informs your audience of who you are and why you’re in business. At it’s best, it’s simple and subtle. It might be the face of the company like a founder or the business may be personified for the who.

The What

A story is a handy reference point for all the content you create and share. Great storytelling is a way to captivate your audience. And with an engaged audience in your hands, you’re more likely to convert prospects into sales.

The When

Every story has a beginning. 

So explain the origins of your business. Did you see a gap in the market when no one else did? Or has your company been making a particular product for 100 years using tried and tested methods?

A story can help here because it taps into your customer’s emotions, and it’s much more memorable than facts—22 times more memorable in-fact. 

Come decision time, you want to have not only established a connection with your audience, but also cemented your business top-of-mind amongst consumers. 

The Where

Where your business started, or where it’s based, is another good starting point for your story if you’re stuck. It can strengthen your appeal, like Apple’s humble beginnings making user-friendly PC’s in a garage. Or it can be your identity, like Bega Cheese proudly hailing from Bega. 

At the same time, spare some thought as to where your storytelling will happen. 

The Why

Before starting a business, ask yourself “why?”

Does your brand exist because you wanted to solve a problem that didn’t have a suitable solution yet, or because you wanted to provide a different solution? Tell your audience the answer. 

Companies that convey purpose and values tend to outperform businesses who don’t both in terms of profit and stock performance. Which is why investing in brand storytelling could provide 20 times ROI for your product or service. 

Consider this story: two researchers experimented with increasing the value of insignificant objects by lending them incredible back-stories. The results? They turned junk bought from a garage sale into thousands of dollars profit on eBay, accompanying each product with a short-story in the product description. They sold a wooden apple core that cost US$1 for US$102.50 thanks to a heart-wrenching tale about a husband and wife. 

A story also provides endless ideas for fresh content, which Google really likes—helping your SEO strategy and content marketing too. 

The How

Think of your story as a blueprint for all marketing communications. 

Is your story present in your branding? In your marketing? In your product? How about your retail channels? A story is as much a touch point as branding, so make the two match. 

For us, we had to open our doors to external businesses because people were banging down the door and we wanted to provide real-time transparent results to all businesses. As a performance marketing agency, we tie everything we do back to performance. 

Look for an Agency who can bring a new, objective perspective to your story and find new ways to tell it. At Frankly, we know how to do storytelling. Our content team does it everyday for our clients and true to our value in performance, we ensure those efforts are measured and the results made transparent with the client. 

Your story is your most unique USP. So spend time developing it and it’ll make for a formidable tool in your marketing arsenal. 

Great storytelling is a way to captivate your audience
Frankly Agency
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Frankly Agency