The Power of Storytelling: How to Increase Retention?

Everyone loves a good story. It's why movies and books are so popular - we love getting lost in a narrative. And it's also why storytelling is such a powerful tool for marketing and retention. In this blog post, we'll explore the power of storytelling and how you can use it to increase retention rates in your business. Stay tuned!

The Stanford Storytelling

There were two Stanford professors in the past. One was named Gordon Bower, and the other was named Michal Clark. They were interested in how story and memory-related content stayed in memory, or were forgotten. They decided to conduct an experiment.

Two groups were formed. The first was instructed to memorize a sequence of unrelated and random words. The second group was asked to repeat the process. However, this group was required to invent a narrative that included all of the words on the list. It was up to them to construct an account with their unique imaginations. It had to include every single word.

When it came time to test, the results were astonishing. The group that had to create a story out of the words could recall almost double what the other group could. The power of the story was clear. Both groups were given enough time to learn the words. All of the terms – list and narrative alike – could be recalled correctly immediately after learning them for both groups. It was a level playing field.

To see if popularity changes occurred, Bower and Clark conducted the same study 12 times. Finally, there were 12 lists and stories. This is when things started to change. Remembering long-term was significantly different. Both groups were asked to recall each word on one of the 12 lists. The average recall among those who memorized the words in list form was 13%. The average recollection among those who memorized the words in story form was 93%.

The conclusion? Stories, not lists, win the day. Retention is 6-7 times greater as a result of stories than it is as a consequence of lists.

Before you move on, please consider whether you need ‘a video’ or you need conversions and a better story across your buyer’s journey.

Video works, yes. But adding the stories that sell to your marketing AND sales teams will improve conversions, revenue, and give more time back to your sales teams.

If you want to learn and create a sales toolkit, let’s talk.

Here is a link to a free consultation

Effective Ways to Increase Retention Through Storytelling

You've heard it before: humans are wired to love stories. It's why we're drawn to movies, books, and even advertisements. In fact, when it comes to retaining information, nothing beats a good story. That's why businesses need to start using storytelling more effectively in order to increase retention rates among their customers and clients. Here are some tips on how to do just that.

1. Make It Personal

The most effective stories are the ones that feel personal. They should be relatable and resonate with the audience on a deep level. To do this, businesses need to focus on creating characters that their target market can identify with.

For example, let's say you're trying to sell a new skincare product. Rather than going straight for the hard sell, try telling a story about someone who struggles with the same skin issues that your target market does. Describe how this person tried every other product on the market but nothing worked until they finally found your magical elixir.

By making the story personal, you'll not only be more likely to increase retention rates but also boost sales as well.

2. Keep It Simple

The best stories are the ones that are easy to follow. That's why it's important to keep things simple when you're crafting a narrative for your business. Remember, you're not writing a novel – you're trying to communicate a message in the most concise and effective way possible.

So, what does that mean in terms of story structure? Well, there are a few key elements that every good story should have, including:

• A beginning
• A middle
• An end
• A conflict
• A resolution

As long as you hit on these key points, you'll be on the right track. Just remember to keep things clear and concise so that your audience doesn't get lost along the way.

3. Use Visual Aids

When it comes to storytelling, a picture is worth a thousand words. That's why businesses should always look for opportunities to use visual aids when they're sharing a story.

For example, if you're giving a presentation, try using slides or infographics to help illustrate your point. Or, if you're writing an article or blog post, including images or videos whenever possible. Not only will this help break up the text but it will also make your story more visually appealing and easier to remember.

4. Get Creative

There's no shortage of businesses out there competing for attention. So, if you want yours to stand out from the crowd, you need to get creative with your storytelling.

One way to do this is by using non-traditional storytelling formats, such as comic strips or animation. Or, you could try incorporating interactive elements, like quizzes or games. The sky's the limit – it just takes a little bit of creativity to make your story stand out from the rest.

3 Reasons Why Retention Increases Through Storytelling

Think about the last time you listened to a story. It could have been a bedtime story from your childhood, or a gripping anecdote your friend shared over drinks. No matter who was telling it, or where you were when you heard it, one thing is for sure: storytelling has the ability to keep our attention. And as marketers, we should be taking note. Why? Because retention rates increase when customers are engaged through storytelling. Here are three reasons why…

1. Stories are interesting

The best stories are the ones that keep us on the edge of our seats, eagerly waiting to see what happens next. And when we're interested in something, we're more likely to pay attention and remember it.

So, if you want your customers to remember your message, try telling them a story. It doesn't have to be anything fancy – just something that will pique their curiosity and keep them engaged from beginning to end.

2. Stories are memorable

Remember those bedtime stories from childhood? Chances are, you can still recite them today (even if it has been years since you've heard them). That's because stories are highly memorable – much more so than facts or figures.

And when it comes to marketing, being memorable is key. After all, you want your customers to remember your message – and the best way to do that is through a well-told story.

3. Stories target emotions

Stories have the ability to evoke all kinds of emotions – from happiness and sadness to anger and fear. And it's these emotions that make stories so powerful. They can stay with us long after we've heard them, and even influence our behavior. So, if you want your customers to take action, try telling them a story that will touch their hearts and inspire them to act.

Whether you're looking to increase brand awareness or boost sales, there's no denying that storytelling can be a powerful marketing tool. So, if you're not using it already, now is the time to start. Use the tips in this post to get started and see how storytelling can help your business achieve its goals.

The Bottomline

Storytelling is a powerful tool that every business should be used to increase retention rates among their customers. So, if you're looking for a way to engage your audience and deliver your message in a more interesting and memorable way, give storytelling a try. You just might be surprised by the results.

Now that you understand the importance of storytelling in business, it's time to learn how to do it well. Our 6 Stories To Sale Guide is designed to help you improve your stories and make them more effective at engaging and retaining customers. Use this guide as a resource to help you create better customer experiences with your brand. What story will you tell next?

If you want assistance in developing better brand stories, contact us immediately!