Storytelling For Small Business

Most of the smaller businesses I work with at the agency I work with simply look at marketing as a way to get sales. And… while I totally agree, ?have you ever noticed how a great story can make you feel connected, emotional, and even inspire you to take action? Well, it turns out, the same magic works wonders in the world of marketing. Research has shown that when consumers fall in love with a brand's story, they're not just touched emotionally – they're also more likely to open their wallets, with a whopping 55 percent willing to make a purchase. That's why many smart companies are now reshaping their marketing strategies to put storytelling front and center, bridging the gap between their brand and you.

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In recent times, companies have ventured into the captivating realm of storytelling as a powerful tool in brand marketing. Brand marketing isn't just about getting a company's name out there; it's about creating a loyal following that's genuinely interested in the products or the company itself, thanks to creative campaigns. One such creative technique is called "branded content." Unlike traditional advertising that pushes products, branded content subtly links a brand's values to its products without a hard sell. It's like telling a story without shouting "buy me!"

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Now, let's take a step back in time. More than a century ago, brand marketing relied on word-of-mouth or newspaper ads. But as technology evolved, so did advertising. It's not just about showcasing products anymore; it's about crafting a brand narrative and sharing it through storytelling.

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Great storytelling within brand marketing allows consumers to connect with a brand's personality, authenticity, and values, as seen in the Blue Apron example. Research published in the Harvard Business Review revealed that 64 percent of consumers develop a relationship with a brand because of shared values. Furthermore, authenticity is crucial, especially in recent years when consumer attitudes have shifted. A global study by the Havas Group found that 75 percent of consumers expect brands to contribute to their well-being and quality of life. Shockingly, only 33 percent of North American brands were trusted. By promoting a company's authenticity through branded storytelling, marketers can foster trust and build long-lasting relationships.

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Fast forward to 2018, where changing consumer habits are reshaping the marketing landscape. Generation Z, expected to make up 40 percent of all consumers by 2020, demands authenticity and transparency from brands. They see through the facade and value brands that genuinely stand for something. Winning over these future consumers requires brands to embrace authenticity and transparency in their storytelling strategy.

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The Rise of Brand Storytelling

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Brand storytelling is the cornerstone of every successful marketing strategy. It's the secret sauce that makes consumers want to invite your brand into their daily lives.

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In 2012, the marketing world had an epiphany when Coca-Cola unveiled its "Content 2020" announcement. It was the turning point that made everyone realize that storytelling through content marketing was the ultimate way to engage consumers. Chipotle, in February of the same year, took a leap into brand storytelling with a heartwarming two-minute video featuring a farmer embracing old-fashioned farming amidst industrialization. Their tagline, "Cultivate a better world," sparked conversations and even earned them an award at the Cannes Film Festival.

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So, what's the recipe for a successful brand narrative? Here are some key ingredients:

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Creating a Storyline: Every brand narrative needs a compelling storyline that showcases the brand's history, values, and uniqueness. Take Under Armour, for example, a brand that stood against giants like Nike and Adidas by leveraging its underdog story. They even partnered with other underdog stories, like NBA superstar Steph Curry, to build on their narrative.

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Establishing an Emotional Connection: The best brand narratives evoke positive emotions in the audience. Remember Otis and their heartwarming elevator commercial that led to friendships? Emotional connections like these make brands unforgettable.

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Using Data to Support the Narrative: Trustworthy data reinforces a brand's message. For example, National Geographic combines personal stories with data about wildlife and climate change, educating readers about protecting the planet.

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Making it Resonate: The goal is to create a story that sticks in consumers' minds for years to come. Think of Anheuser-Busch's 2014 Super Bowl ad featuring a puppy and Clydesdales. It not only tugged at heartstrings but also made a lasting connection.

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When these elements come together, they form a powerful recipe for compelling branded content that builds lasting relationships with consumers. With a well-crafted brand narrative in hand, marketers can share it across various technological platforms, reaching a broader and more targeted audience.

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The Role of Social Media

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Thanks to the rise of social media and technological innovations, it's easier than ever for brands to get their message out there. They can create videos, deliver content to consumers' phones, and publish blogs on their websites at a fraction of the cost. Social media even allows brands to promote products or ideas that aren't available in stores, as Pizza Hut did with their pizza-ordering basketball sneakers.

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But it's not just about promotion; social media can be the brand itself. Take Humans of New York, for instance. This photo-journalistic blog doesn't sell products; it shares captivating individual stories that resonate with millions on Facebook and Instagram. It's proof that social media can be a brand's most powerful tool.

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What's Your Story?

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In the ever-evolving world of marketing, brand storytelling is the present and future. Research reveals that a staggering 92 percent of consumers prefer advertising in the form of stories, with engaging images that leave a lasting impact. The lessons we've explored—transparency, emotional connection, and resonance—will continue to be vital in the years ahead. As companies aim to grow and expand their audiences, they'll need skilled marketing professionals who can weave their brand's story into an irresistible tapestry. So, where is your story headed?