I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.
Maya Angelou
Introduction to Storytelling in Business
In today’s world, businesses do not sell just products anymore, instead, they sell experiences. Modern technological advancements have ensured that people from the comfort of their homes and in the palm of their hands are constantly presented with a myriad of choices about products and services that are very similar in function. The question then for any brand is – how do I make my brand stand out amid all these alternatives? The answer is through storytelling.
The Head Versus the Heart
Storytelling involves using audio and visual elements to communicate meaningful messages. In business, storytelling is not just about logos, i.e. appealing to the mind, it is also about pathos, i.e. touching the heart of your audience. In the other words, it is a story of the head versus the heart. Businesses can appeal to the mind by presenting the facts of their brand but this can only get them so far. As Maya Angelou said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” Modern businesses understand the importance of this message and aim to create messages that do not just inform audiences about the brand but also create a connection between the audience and the brand through strategic storytelling. In Ghana, for example, everybody knows about the CEO of the Despite Media Group of Companies, Mr Osei Kwame Despite. He has told his success story so much that it has almost become folklore among the Ghanaian populace. It is a story of the underdog, an everyday man with a humble beginning who defied all the odds to become a Ghanaian symbol of success. His story evokes feelings of hope, struggle, determination, hard work, empathy and reward. His story goes straight to the hearts of Ghanaians. The connection Ghanaians feel with this story has given Mr Osei Kwame Despite and his company the social capital that ensures that Ghanaians not only support his business but also wish to emulate him. That is the power of storytelling.
How is this connection created?
The first step to telling corporate stories is to find the right story. This demands that companies look in the right places to tell stories that connect them to their audiences. A company may for example as in the case of the Despite Group of Companies look to the founder for inspiration. Companies like Facebook, Microsoft and Apple took on this approach and told stories of their founders and CEOs to show the human face behind these mega-corporations. Another place to look for inspiration is from the customers. Fashion and lifestyle businesses often take on this approach to appeal to the lifestyle of their clients. Brands like Cannon, Nikon and mobile phone companies use a lot of user-generated content to tell stories that the audience can relate to. Another source of stories is from heritage. Businesses that have been around for a very long time like Mercedes often use this to tell stories of the journey of the company.
The second step is to find the right audience. Targeted communication is a major part of storytelling. Knowing your audience helps you determine what to say and how to say it. This demands businesses have insight into the various segments of their audiences to determine which message best suits them and how best to convey that message.
The final step is to determine the medium through which your audience will receive your message. Beyond determining whether it would be on traditional media or social media, it is important to determine the specific platform and how it aligns with the interests of your audience. Is it going to be a podcast, what kind of podcast will it be on, is it going to be a ted talk or a simple interview with a renowned show host? What is the impact of that program, and the host on the audience and society at large? These are some of the questions to ponder and techniques of storytelling businesses must consider when communicating with their audience.
Reasons for Storytelling in a business
Being “Human” in business is profitable. Telling the stories of your company, be it that of the founder, the employees or the customers themselves show your audiences the human side of the business. This enables the business to stand out amidst all the noise. Companies like Microsoft and Apple have over the years shown themselves to be more than corporations. They represent the vision of the inspiring individuals who dared to dream to change the world. These stories have not only cemented these companies as household names but have seen these companies rank very high in profitability. Evidence from the Harvard Business Review shows that the top-ranking companies for empathy are also some of the most profitable businesses in the world. Evidently, audiences prefer to support businesses that are willing to be human over those that remain cold, automated and detached from real human connection.
Additionally, Storytelling gives businesses a competitive advantage. The ability to tell a compelling story can be what sets companies apart in a market filled with noise from the myriad of competitors. After all, the 2014 Annual Review of Psychology reveals that decision-making is more emotional than it is rational. This means that even in the case where a competitor might have a better product, your brand can still break into the market and make your business profitable. Evidence of this is at auctions where the story of a previous owner of an item can significantly increase the value of the item.
Further, brand storytelling creates emotional connections between the brand and the audience which can induce customer loyalty. When telling brand stories, it is important to find out what your consumers value about your brand in addition to the product. People who patronize the Telsa brand for example are usually conscious about protecting the environment. Apple users expect a lifestyle, and the feeling of exclusivity when purchasing an Apple Product. People who patronize Mercedes for example expect to feel luxury and dependability when using a product or service from Mercedes. Brands then are more products and services; they are the sum of the experiences a consumer has with a product or service.
Conclusion
The modern business environment is fraught with intense competition in almost every business sector. However, amid all this chaos, a few companies stand out. The ones that stand out are usually businesses that have created a uniqueness in the minds of their consumers by strategically telling stories that audiences can relate to and support. Storytelling is a unique brand communication tool that makes the difference between businesses that exist and businesses that thrive.