How Important Is Brand Storytelling?

Introduction

Story telling dates back to the origin of humans. Every civilization has had its own way of capturing stories that are important to their history: before the internet, radio and books, our ancestors painted in caves for millennia and passed down folk tales to younger generations. They used storytelling as a medium for learning, passing down wisdom and societal ethos and as a pastime activity.
Even though our civilization is more technologically advanced today, the neurobiology of storytelling is much the same as it was millennia ago. Businesses that are aware of this fact have succeeded in winning the hearts and minds of consumers. As Ian Rowden, chief marketing officer of virgin group puts it “the best brands are built on great stories.”

Why Is Storytelling So Important?

Brand story telling is important for the following reasons:

Stories Make People Stop And Pay Attention

People generally don’t like advertisements; they are intrusive, they interrupt programme viewing, and on the internet, nothing is more irritating than pop up advertisements selling all manner of things. What’s more, there are now machine learning algorithms and “cookies” that can target browsers with adverts based on their browsing activity. Given this invasive nature of adverts, it is no wonder that adblockers are increasing in popularity, costing online advertisers billions in revenue yearly.

Stories Get You More Sales

You can sell more through the stories associated with your brand. This is why reviews and testimonials are so useful.

  • Comparing competing brands,
  • Making price-related decisions.

Your Story Sets You Apart

Your business is no doubt competing with thousands of other businesses in the same space. In all likelihood, you and your competitors match each other toe-to-toe when it comes to product features and specifications, so much so that when you advertise, consumers perceive you and your competitors as saying the same thing.

People Want To Be Part of Something

Howard Schultz said, “people want to be part of something larger than themselves. They want to be part of something they’re really proud of, that they’ll fight for, sacrifice for, that they trust.”

How To Tell Your Brand Story

You now know why brand story telling is important. But how do you tell your story in a way that is believable? Below are 2 main tips to make your stories stand out and feel authentic:

Your Story And Your Reality Should Match Up

  • Secondly, even if people believe your story for a while and you succeed as a result, sooner or later, the truth will come out. At such a point, customers, investors, employees, vendors and endorsers, will jump ship and your competitors will not hesitate to kick you while you are down.

Show Your Human Side

Marketing helps to drive profit and cut through competitive noise. But in order to create lasting impact, the story you tell should demonstrate that you are not just about bullish sales and marketing tactics and profits. Today, people want to buy from companies that care about people. Companies that transform lives and leave a positive mark in the markets they operate are more profitable than their counterparts.

Conclusion

Brand story telling statistics show that stories help to build an emotional connection. Once this connection exists, you can build a community of trusting customers around your brand, and what follows is years of successful selling and profitability.