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November 13, 2019

Does your company need a "story"

Any business owner has stories to share. Is your story, however, critical to your company's overall success? Sharing and constructing your story has the potential to influence people's perceptions of the company, as well as your audience and target market in the long run.

Every brand must embrace storytelling as a powerful business tool and technique in order to establish a strong and long-lasting brand that can be passed down through generations. Every person, as well as their brand, has a story to tell. It has played an important role in our daily conversations.

When a story is told successfully, it can do wonders for a company, such as turning a brand into a legacy, establishing a powerful marketing approach, producing profit, and capturing the commitment of the target market. These are just several of the impacts that may be achieved when a story is told well.

Storytelling elicits a sense of purpose, and organizations with a sense of purpose are more likely to stand out and win customers' hearts and wallets. You should be able to emotionally engage with the people you want to be your target before you promote anything. You must know who they are and what they want, and you must prove to your prospective customers that you completely understand their needs.

The following are some of the reasons why your company needs to have a story: 

A powerful marketing strategy is built on a properly articulated story.

Yes, practically every firm has a remarkable story to tell, but many fail to do so, even with planning, engaging, and truly effective marketing strategy. A lot of individuals have big ideas, aspirations, and goals for what their brand should stand for and represent. However, many people will struggle when it comes to presenting their experience and sharing it with their coworkers and other people. They sound puzzling, vague, and incoherent.

Every company must be keen to develop a properly articulated story for two reasons: First, a story establishes a framework to organize content that would otherwise be disorganized and inconsistent. If a brand's marketing strategy is based on a story, each piece of content generated should have a specific objective, the value proposition that feeds up to and complements the company's high aspirations.

Second, a brand story significantly reduces the difficulties of a goal while also expressing a corporate purpose to the outside world. A company that expresses mission and provides value can exceed its competitors in terms of stock price by massive margins, outperforming those that do not. In other words, having a core purpose as a business sells, but they must be presented with a story that can captivate people's utmost attention to do so.

Storytelling with passion is both economical and human.

Most successful companies now have profound stories to share, most are deeply tied to their founders, which provides a sense of bigger purpose and meaning to what they do. Like Apple, Tesla, and Google, these companies are so much more than what a company can provide, they are a legacy of brands created by visionaries who aim to change the world. 

A corporation, on the other hand, should not aspire to be the next Apple or Google, but rather a product or service provider with a vision that an audience embraces. People today choose to invest in people rather than companies; in fact, some of the most respected and financially successful organizations are known for delivering financial returns while also building people and society. It's both ethical and profitable for companies to try their best to humanize themselves through their communication and to mean it.

It's a competitive advantage to be able to tell a good story.

Every day, millions upon millions of pieces of content are created and published. Consumers are bombarded with various bits of information. It's simple to get on the bandwagon as a company. Of course, a company's product or service may be superior to those of its competitors, but it all boils down to emotional rather than rational decision-making. The ability to tell a strong and compelling story can make or break a company's ability to distinguish itself in the market and generate a profit.

A firm with a compelling story may win over its market and enhance the potential value of its identity, much as individuals can become more prominent and advance professionally by having a strong brand image. 

Researchers Rob Walker and Joshua Glenn demonstrated the importance of storytelling a few years ago by offering meaningless goods on eBay with a sincere, well-written, and compelling short story in the description box. The objects, which were actually bought for less than $1.50 each at a garage sale, resold for nearly $8,000, demonstrating how a clever storytelling method can help raise an item's perceived worth and generate significant returns on investment.

People are emotionally connected by stories, which leads to brand trust.

Storytelling brings people together, aids in the understanding of the world, and expresses our values and beliefs. A good tale has the power to make us think and feel in ways that numbers, data, and presentation slides just cannot. The most powerful stories touch people's emotions, really engage with them and inspire them to believe in a company and its values. Businesses should not be hesitant to communicate the whole narrative — the ups and downs, losses, and triumphs – to help customers comprehend the passion and heart that went into creating and growing the brand.

Businesses who appreciate this natural human desire for connection can wrap their purpose into a beautiful and fascinating story, and effectively communicate this story to their audience via an effective and heartfelt marketing strategy, which is able to build long-term brand loyalty.

It adds to the appeal of documentation.

Similarly, annual reports, web sites, brochures, and the founder's biography all become more fascinating when they feature a company story rather than a list of facts and data. Even if you must include those facts and figures, such as in an annual report, the tale adds context to the facts and figures.

Conclusion

I hope you learn ideas about how to share your company's story and how this might help your firm thrive. You may grab your consumers' hearts by simply providing a unique story about the brand, which will lead to the organization's growth. Never be afraid to share your story since it is critical to the success of your company.

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