Storytelling is a powerful way to foster long-term relationships with consumers. Any information that is wrapped in the form of a story has a higher impact on the consumers. Stats also reveal that over 63% of consumers remember stories better than figures.
You can also defeat your competitors by harnessing this power of storytelling in your business marketing strategies. First of all, let us understand what is storytelling in business marketing and then dive into its relevance in business marketing.
What is Storytelling?
Do you know that over 92% of the customers want their favourite brands to roll out ads that have stories? Storytelling is the art of conveying a marketing message to consumers through a narrative.
Its main motive is to build brand awareness and brand loyalty among the target audience. It also aims to inspire customers to make an informed purchase decision. In other words, storytelling in business marketing is all about humanising a brand.
It helps the consumers to realise why they should care about a brand. Storytelling is one of the most powerful business marketing tools that can benefit a business in several ways.
Why Storytelling is Important in Business Marketing?
Storytelling is not a new concept. It is an age-old strategy to entertain, attract, and engage the target audience. Telling stories as a part of a business marketing initiative has now become a strategic priority for the brands. Let us figure out the reasons that made storytelling so crucial in business marketing.
To Gain Competitive Advantage
Businesses that wish to gain a competitive advantage should incorporate storytelling into their business strategies. It also helps in enhancing the perceived value of a product and boosts return on investments.
Consumers are switching through websites to know the latest about their favourite products. Any brand that uses storytelling to attract their attention tends to be on a stabler side. After all, nowadays, decision-making is more about emotions than logic. Hence, storytelling is a crucial factor that can make a brand stand out in the crowd.
Hits the Emotional Quotient
Do you wish to build an emotional bond with your target audience? If the answer is yes, storytelling can be the right approach for you. The human brain processes images sixty times faster than words.
Therefore, marketers must roll out compelling stories that can evoke emotions and feelings in the mind of the customers. However, it is equally essential to keep the content subtle and natural.
Increases Understanding and Maintains Attention
Consumer behaviour is volatile. Therefore, it is crucial for the brand to engage their audience for a longer time. Storytelling is the perfect medium to keep the consumers hooked to the brand.
They are highly engaging and a structured form of communication that appeals to the audience. Moreover, the chances of losing customers’ attention is low when stories are a part of your advert or pitch.
Convey Brand Personality
Storytelling is an excellent way to let a brand’s personality and message shine through. Through storytelling, a brand is conveying its hard work and endurance in creating a user-friendly brand.
It is a great platform to let consumers know how important they are to the brand. Businesses should focus on creating stories that align the business goals to the needs of the consumers.
To Help Consumers in Making Purchase Decision
Consumers look for inspirational stories to make a purchase decision. They will read the online reviews and testimonials that are essentially facts and features wrapped up in a story.
Similarly, when a business tries to market and sell products to another company, it should have a valid answer to ‘why should you associate with us?’ You see, storytelling is much more than advertising and marketing. It makes it easy for customers to trust a business.
For Effective Marketing and Advertising
Are you planning to launch a business marketing campaign soon? If yes, skipping storytelling might cost you dearly. Storytelling is one of the most powerful marketing tools for any business that aims to lead the competition.
It connects a brand and evokes emotions in people, stakeholders, and investors effortlessly. All you need to have is a strong and thought-provoking storyline that appeals to the target audience. It will encourage the audience to care about the brand and its products.
Enhance Employee Engagement and Efficiency
Employees are the backbone of a business. They are the first-line defence of the brand. Any business that experiences a dip in its productivity and efficiency can use storytelling to encourage its employees. Here, storytelling goes beyond the vision and mission of the company.
It is more about making the employees feel important for the business. Sharing stories about the aims, challenges, and struggles of the brand will prove to be a wise move. Businesses can foster a stronger bond by asking the employees to share their stories as well.
To Humanise a Brand
Storytelling does a wonderful job of humanising a brand. It makes the brand come out as an empathetic entity that cares for its customers. Businesses should try to research the needs, desires, and expectations of the customers.
The data collected should be used to improvise the product line. Rolling out the products and services that the consumers were longing for, can prove to be a game-changer for the brand.
Some Tips to Ace the Art of Storytelling
Here are some crucial tips that will help a brand in acing the game of storytelling in business marketing:
- Brands must ensure that it does not skip the essentials of the story.
- Taking clues from the experts will prove to be a wise move in business marketing. You can find many successful examples of storytelling in business marketing online.
- Do not hesitate in experimenting in terms of content and storyline, media, and narrative.
- Any business that wants to carve a niche for itself in the industry should make efforts to fascinate the audience. Marketers must make every possible effort to create value in the lives of the customers through enticing stories.
- Offering misleading stories can prove to be lethal for a brand. Therefore, marketers must ensure that they present authentic information to their audience. Any storyline that is logical and meaningful will be successful in creating a long-lasting impact on the customers.
- Marketers must focus on highlighting their brand’s personality above everything else. Presenting the real values of a brand is the key to success in this industry.
- Businesses must keep the interests of the consumers in mind while creating inspiring stories for them. It is a creative way to foster long-term relationships with them.
- Last but not least, businesses must think bigger, go deeper, and get personal while sharing their part of stories.
These were some valid reasons why a brand should integrate storytelling into their business marketing initiative. You see, it allows the brand to transfer its beliefs and values to the audience. It also helps in creating an emotional bond with the target audience and driving action.
Sharing a storyline that resonates with the thought-process of the audience is like hitting the bull’s eye. If you also aim to build a strong relationship with your consumers, make sure you share inspiring and memorable stories with them.
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Q. What are the attributes of a good storyline?
Ans: A good storyline is one that is easy to understand, contagious, inspiring, inclusive, believable, and useful.
Q. Where can I use the concept of storytelling?
Ans: You can use storytelling in all kinds of marketing like
· Internet marketing
· Blog marketing
· Social media marketing
· Print marketing
· Video marketing, and so on
Q. What is the process of storytelling?
Ans: Here is the process of storytelling:
· Know your target audience
· Define your message
· Create a story
· Give a catchy title, description, and call to action
· Share the story