Why Storytelling is the Future of Marketing | How to do Brand Storytelling

 

Since the dawn of time, storytelling has served as a way to pass on knowledge. From legends of Achilles to the battles of Napoleon, tales were passed down from one age to another. 

But nowadays, storytelling has become a marketing tool adapted to the digital era. It allows businesses to connect more deeply with customers. 

According to Headstream statistics, if people like a brand story, 55% are more likely to buy the product. Furthermore, 44% will spread it, while 15% will purchase it right away.

Storytelling is exactly what helps to accomplish this. It allows businesses to form bonds with their potential customers very easily.

Additionally, it explains to consumers how a product will improve their lives. And also influences them to make the buying decision.  

Why Storytelling is Needed in Marketing?

The purpose of storytelling is not to make a profit, but to forge connections with customers. It allows companies to engage audiences in an interactive manner.  

As the founder of the Huffington Post says, ‘People think in stories, not statistics, and marketers need to be master storytellers.’

A recent study found that telling a brand's story correctly can boost the value of products 20 times.

In this article, we will investigate why storytelling is the future of marketing. How it boosts brand image and help build customer loyalty. Without further ado, let’s get started:

• Improves Brand Image 

Brand storytelling can be a unique way to separate yourself from competitors. You can leverage the unique story of your brand as part of your marketing strategy. I’m sure you can differentiate yourself from your competition with this approach. Here are a few tips to help improve brand image through storytelling.

• Create Unique Brand Story

Create a unique brand story for your business. This will distinguish your company from competitors. It will also allow you to gain more customers if the story is able to emotionally connect with them.

• Don’t Forget Your Employees

Since employees represent your brand most of the time, it’s important that they understand what your company is all about. Use stories to tell your employees about your company onboarding and training. This will improve your company's ability to tell its story more efficiently.

• Finally Integrate Your Stories

Whenever your team launches a new product, include a brief story about how and why it was launched. Doing so creates a deeper emotional connection with your customers.

• Builds Customer Loyalty 

For starters, who would you trust as a customer? Some random organisation you know nothing about or the one whose story you know? Most people prefer to do business with organisations that they can relate to, trust, and like. Today, businesses use this form of advertising to leverage themselves significantly.

And how can you do that? Well, tell a great story that allows customers to get to know you and your company better. After all, the best way to build brand loyalty is to keep customers interested in your business, right? 

Another problem is, getting new customers costs a lot. The best way to grow your business is to retain your customers.

Rather than continually promoting, focus on what your customers have to say as well. This will help build credibility. So make sure to include them in your brand story as well.

Source: 1000Ventures

When you tell a nice story, the message stays in the audience's subconscious for a long time

Studies say, when the brain reads something and gets emotionally attached, it releases dopamine. This heightens the ability to recall experiences. 

Once your brand starts to stick in customers’ minds after seeing something, you’re good to go. 

As storytelling will greatly increase loyalty. Be sure to chalk up an engaging story that will leave a lasting impression on your customers. 

• Stories Leave A Lasting Impression

Stories leave a more meaningful impression on people than facts and figures.  As it is more than a narrative. Telling stories also differentiates you from your competitors. This can make you stand out and extend your longevity.

It even helps consumers develop experiences that help them remember the brand easily. And finally, makes your brand stand out as an authentic one. 

• Increases Revenue, Oh YES!

Storytelling can speed up your sales. It works because people love stories that provide solutions.

A story will put audiences at ease and engage them with the human side of your brand. This will help develop brand loyalty, and with that increased revenue as well. 

With the right narrative and appealing visuals, you can take your brand to the next level. And you can do this easily by boosting the value of your products through compelling stories.

• Forget 4Ps, remember 4Es

With the advancements of technology, the 4Ps no longer resonates with the customers. They have now become more attuned to the 4Es: Experience, Everywhere, Exchange, Evangelism.

• From Product to Experience

This means your customers should experience a seamless journey. It starts from the moment they learn about your brand to when they make purchases and beyond.

• From Place to Everyplace

In the old model, Place refers to the physical location of a business. But with Everyplace, the concept is reversed. Now brands need to serve customers both online and offline.

• From Price to Exchange 

While the price still matters, it is more about what the customer gets in exchange. This is the point where value becomes important. Think about what your value proposition is and leverage it. 

• From Promotion to Evangelism  

There was a time when promotion was all that mattered, but now it is not enough. Beside promoting your business online, You need to educate your customers about the value and experience you provide. In turn, they will spread positive word-of-mouth. Additionally, it makes this one of the cheapest marketing opportunities you have. So be sure to utilise it properly. 

All of these can easily be accomplished through telling engaging stories. And will make it much easier to communicate with consumers.

• Artificial intelligence

Artificial Intelligence has already been around for a while. It helps search engines filter, decide, and make marketing decisions. The same goes for storytelling. AI excels at analysing large datasets and can accomplish wonders. Thus, it makes the job of content writers and copywriters much easier. When writers have more time, they tend to create better stories. Even though branding, strategy, and direction require a great deal of human effort. AI will likely help here as well.

Read the full article at: Why Storytelling is the Future of Marketing | Storytelling Services – Brand Storytelling in Marketing (powerofstorytellinginmarketing.com)