How many episodes of Shark Tank have you watched where the contestants are faced with the questions, “But what’s your USP?”, “Why should I choose your brand?”
Their answer will normally begin with a story. The origin story normally pulls at The Shark’s heartstrings, makes them reflect on their values, needs and desires or makes them relate to the brand.
Once the contestants have them hooked, they can then work on influencing their purchasing decisions, which, as an Entrepreneur, Marketing Manager or Content Creator, is the main goal! So, what is the power of storytelling in marketing and why is it important?
In a growing world of AI and robots, storytelling is vital to the future of marketing now more than ever because it taps into the fundamental human need for connections and emotional resonance, shifting from product-centric to customer-centric marketing strategies.
5 Ways to Implement Effective Storytelling For Your Brand
Whether you’re a small business owner, a start-up or a marketing manager, if you don’t have your brand’s story included in your marketing campaign, there are a few ways you can change that!
Think Long-Term Goal vs Short-Term Success
Unlike one-off adverts that focus solely on short-term conversions, storytelling helps build long-term customer relationships, communities and loyalty.
When brands share ongoing stories, they create a narrative that keeps customers engaged over time, encouraging repeat engagement and even brand advocacy. Read more on brand word of mouth and advocacy here.
This may take longer than rapid-fire marketing campaigns; however, harnessing the power of storytelling is likely to increase lifetime customer value, resulting in longer-term success.
Speed-Date Your Customers
As Taylor Swift once said, ‘It’s a love story’, and the customer is the Romeo to your Juliet! Get to know your customers inside out. What are their likes, dislikes, passions, values? They want to relate to your mission and support your vision.
You have the power to create that emotional connection through your brand’s storytelling, leaving your customers wanting to come back and share you with their social circle, growing organic brand awareness. This helps create a buzz and build organic engagement without breaking the bank. A UK-based dating app called Thursday quite literally set up a pop-up speed dating in London to get to know their customers better.
Their mission was to tackle the pain points of modern-day dating. This may work for your brand, or, you could go and talk to people on the street, make a focus group, set a poll on social media, basically, get to know your customers! You can read more on engaging your audience with social media quizzes and polls here.
Repurpose, Repurpose, Repurpose!
Work smarter, not harder! One piece of content can go a long way… With the rise of social media and digital platforms, storytelling provides endless opportunities to create content that can be shared and distributed across various channels for free! You can create kick-ass viral campaigns with a minimal budget.
One piece of storytelling can be repurposed for your YouTube shorts, TikTok, Instagram Live, or created into a blog post, a podcast, an infographic, the list goes on, and on. This also ensures that your brand tone of voice and messaging is aligned across multiple platforms.
This is imperative if you want to build loyalty and trust, so make sure your storytelling is consistent.
Differentiation Is Key
In a highly competitive marketplace, compelling storytelling will help your brand stand out. Many products and services are similar in quality or function, so the difference often comes from your unique selling proposition and how it connects with consumers’ values.
Effective storytelling can foster a sense of community, so be open and honest with your customers. Tell them about your passions, your dreams, your ‘why’ for getting out of bed, and your desire to make your brand a success because this will not be the same story as your competitors.
Fenty Beauty wanted to shake up the ‘normalized’ beauty standards with its ‘Inclusive Beauty’ campaign back in 2017. By launching over 40 shades of foundation to match a wider variety of skin tones, its differentiation from the rest of the market meant that it reached $100 million in sales within 40 days of launch.
It was named one of Time magazine’s best inventions in 2017 and has become one of the most influential beauty brands, thanks to its unique value proposition and storytelling.
Be Shakespeare, Not Pythagoras
Your customer is a person, not just a conversion. Use the data you have available to know your customers on a deeper level. Tailor your messaging to suit their needs, wants or desires to make their customer journey a more memorable experience.
People remember 63% of stories but only 5% of facts, so avoid hitting customers (not literally) with dry figures about why your brand is better than the competition. OK, data is important, however, storytelling is vital if you want customers to become a brand ambassador without paying the influencer fees!
Charities such as Water, use storytelling to show how donations directly impact individuals in need of clean water. These stories motivate people to donate and share the cause with their networks.
Take Your Next Marketing Campaign to New Heights
If you want more information and top tips on the power of storytelling in your next marketing campaign, sign up to Foundr+ for just $1 to get access to hundreds of professional-led lessons.
Frequently Asked Questions About Brand Storytelling
How do you create a brand story in a marketing campaign?
Marketers and business owners should be able to define their brand’s ‘why’. What core values drive your business? These could be sustainability, innovation, community, quality, etc. Show how these values shape everything you do.
What are the benefits of storytelling in Marketing?
Not only is this a cheap or even free tool in your marketing armory, but if harnessed correctly, it can increase organic engagement, differentiate your brand from the competition, enhance customer trust and build brand loyalty.
What mistakes should you avoid in brand storytelling?
Some of the biggest mistakes business owners, copywriters and marketers make when creating their brand’s storytelling is to make their ‘why’ or brand’s vision and mission too sales-focused. This runs the risk of sounding inauthentic, which will result in a lack of trust from your customers.
