Today’s fast-paced market is highly competitive, making it easy for your business to become lost in the crowd. Additionally, today’s consumers demand authenticity from the brands they support. Connecting with your audience and building meaningful, lasting relationships is key to setting yourself apart from the competition. Creative brand storytelling can increase your customer base, drive traffic to your site, and boost sales. For these reasons and more, brand storytelling should be a significant aspect of every business’s .
What is Brand Storytelling?
Brand storytelling is the narrative a company uses to shape how their audience views them. It enables you to engage your audience and provide a more personal, in-depth look at who your company is and what you stand for. Whether it’s your company’s journey, or the evolution of a particular product, brand storytelling helps you to connect with your consumers on a deeper level and build a relationship based on common beliefs and trust.
Brand storytelling is an opportunity to show your audience your brand’s purpose and values, which can lead to customer loyalty. After all, 71% of consumers to purchase from a company who shares their values. Consumers today aren’t making passive purchases. They’re shopping with intent, conducting their own research and seeking out the products and companies they want to do business with. For this reason, a company must create a purpose, a culture, and a community that consumers can (and want to) be a part of.
5 Reasons Why Brand Storytelling is Important
Here are five ways effective brand storytelling helps to build loyalty and drive sales.
1. Sets You Apart from the Competition
No two companies have the same story. By sharing your unique narrative, you set yourself apart from the competition. Your history and the reasons and causes that drive your decisions are important to your audience. People care about who you are and what you’re doing, not just the products you sell. Through brand storytelling, you reveal your true identity and outshine others in your industry.
2. Builds Trust with Consumers
When you’re transparent about who are and what you stand for, you give your brand a human quality. People want to interact with other people, so the chance to get to know your company beyond the products you sell is an effective way to build trust with your audience. Consumers want to know who and what they’re supporting with their spending dollars. When they know your story and see that your efforts support your narrative, they’ll know they can trust and rely on the information you provide.
3. Serves as Your Compass
Brand storytelling helps keep your company true to your beliefs and values. When opportunities arise to work with people or companies whose core values don’t align with yours, your narrative can help guide your decisions to ensure you’re staying on course. Working with others whose story contradicts your own can negatively impact your staff, who may feel uncomfortable going against their own beliefs. It can also damage your relationship with your customers, who trust you to uphold the narrative you’ve been touting.
4. Enables You to Compete on Value
A company competes in the market through price and value. Competitive pricing can only get you so far. There will always be another company willing to undercut you or offer deep discounts that your bottom line can’t afford. Value, however, is a tactic you can sustain. After all, you control what benefits you offer to your customers and how you promote that value through brand storytelling.
5. Shapes Audience Perception
With the rise of the internet, today’s consumers have access to endless information at the touch of a button. People will conduct their own searches to learn about a company, and whatever they see (from reviews to branded messaging) will influence their perception of a brand. Brand storytelling allows you to control the narrative about your business rather than let people draw their own conclusions.
Write a Compelling Brand Story
Migration Marketing is a marketing consultancy specializing in brand strategy and activation. Our experts can help you craft a compelling brand story that resonates with your audience.
Contact us learn how we can transition your ideas into thriving businesses.