Can CEOs afford to ignore this technique proven to deliver 3,100% ROI?

In 2009, an unusual experiment unfolded; the product of two inquisitive thinkers, Rob Walker and Joshua Glenn.

Their curiosity centred on a phenomenon as universal as music and laughter - the value of the stories we tell.

And so they hatched a plan to quantify the intangible.

They scoured flea markets, thrift stores, and garage sales, searching for the cheap and the unwanted.

A figurine with chipped paint, a ceramic horse with a wild mane, a wooden mallet faded by the passage of time.

In total, 200 items at an average purchase price of $1.25.

Rob and Joshua reached out to novelists, journalists and poets.

They asked each to write a compelling story about one of the items.

One by one, the mundane became the mysteriously magnificent:

• The chipped figurine, a deity from a lost civilization, its powers forgotten by time but not by those who knew where to look.
• The ceramic horse, the emblem of mystical hope amidst tragic loss.
• The wooden mallet, the key to completing the 8 Labors of Worthiness.

Most were clearly fiction. Many not even of this world.

The items were then sold on eBay.

The result?

$8,000 against an outlay of $250.

An ROI of 3,100%.

The experiment, "Significant Objects," is testament to the power of narrative.

Empirical evidence of what shamen and storytellers throughout the ages have always known - a tale well told has tremendous tangible value.

A globe paperweight from the Significant Objects experiment.

Original price: $1.49. Final price: $197.50

"After nourishment, shelter and companionship*, stories are the thing we need most in the world."

- Philip Pullman

* and sleep.

(Quy the Pedantic)

The science behind storytelling

Dopamine, oxytocin and endorphins...

The body's neurotransmitters for pleasure, love and wellbeing.

Storytelling is scientifically proven to trigger each of this magic triad.

Not to mention cortisol which helps you to concentrate. Discover more...

7 ways to use stories in your business

Pivot from "Here's what our service/product can do,"

to, "Here's what you can do with our service/product."

The customer is the Hero, not you. You're the Guide.

Harness the magic of storytelling to increase engagement and ultimately profits:

• Brand Origin Stories: Share the inception story of your business to create a deeper connection with your audience. Highlight the struggles, the breakthroughs, and the key moments that have shaped your company. This humanizes your brand and makes your journey relatable and inspirational.
• Customer Testimonials and Case Studies: Let your customers do the talking. Share their stories showcasing how your product or service has made a difference in their lives. This adds authenticity to your brand and builds trust with potential customers.
• Behind-the-Scenes Narratives: Offer a sneak peek into the daily operations, the people behind the products, and the making of a service. Transparency builds trust and a sense of insider knowledge among your audience.
• Content Marketing with Narrative Elements: Whether blog posts, videos, or podcasts, infuse narrative elements that engage your audience. Tell stories related to your industry, historical anecdotes, or user experiences that Educate, Entertain and Inspire.
• Social Media Storytelling: Use platforms like LinkedIn, Instagram, Facebook, and X to tell ongoing stories. This could be a day in the life at your company, progress on a project, or highlighting customer stories. The serial nature of social media stories keeps your audience coming back for more.
• Email Marketing Campaigns: Instead of standard promotional emails, weave stories through your email campaigns. Tell a story that links together several emails, culminating in an offer or a reveal. This keeps readers engaged and looking forward to your next email.
• Value-driven Stories: Communicate your brand values through stories that exemplify these principles. For instance, if sustainability is a core value, share stories of how your company is making a difference in the environment. This aligns your brand with a broader narrative to chime with like-minded customers.

Recommended viewing

• The Magical Science of Storytelling | David JP Phillips | TEDxStockholm
• The Science of Storytelling | Will Storr | TEDxManchester
• Storybrand One Liner Exercise | Donald Miller
• STORYBRAND: Framework for Business STORYTELLING | Donald Miller
• What Is Business Storytelling and Why Is It Important? (Agata Krzysztofik)
• Marketing Storytelling: How to Craft Stories That Sell And Build Your Brand

Recommended reading

• Business Storytelling