Brand storytelling is essential when developing long-lasting customer connections. Express your brand’s journey and do it in a way that cultivates relationships. In return, customers will listen and invest both themselves and their cash.
What is your story? And who are you selling it to?
We have moved away from traditional advertisements where brands led a one-way conversation to a silent audience. Now, instead of the brand, the power has shifted into the hands of consumers. Consumers now dictate what they want and need. And if a business doesn’t deliver, they can easily choose from a wide variety of alternatives.
Coca-Cola responded to the peoples’ desire for personalization and put the power in the hands of the consumers. The company added names to Coca-Cola packaging and created one of the most successful marketing campaigns to date.
Failure to Innovate = Business Failure
There’s always been pushback when new trends emerge. You don’t want to be the brand that’s stuck in old ways. Adapt and lean into change – because the results show revenue.
DID YOU KNOW?
In 2000, Netflix approached Blockbuster with an offer to sell their company to Blockbuster for $50 million. The Blockbuster CEO was not interested in the offer because he thought it was a “very small niche business”. Because Blockbuster didn’t take it digital, they ended up filing for bankruptcy; whereas, Netflix just took in an annual revenue of $25 billion in 2020.
When it comes to consumer trends, you don’t want to be left behind doing the same-old, same-old. Join in! Branded content needs to evolve as quickly as user-generated content evolves.
Speaking of evolving…
The Evolution of Storytelling
Successful marketing has gone beyond the traditional form of storytelling. It is no longer just “educating” but “empowering.” It is no longer “entertaining” but “immersing.” It is no longer “persuading” but “inspiring.”
Educate > Empower
When you empower your customers, you give them information to make well-informed decisions that move them one step closer to their goals. When the consumer is a part of your brand’s story, they feel supported. In exchange, they give their attention and advocacy.
Entertain > Immerse
Influencer marketing companies that target millennials understand that it’s not just about entertaining with a one-way experience. Engage your consumers and make the experience immersive and interactive. Both augmented reality (AR) and virtual reality (VR) quite literally place the consumer in the story. This immersive and interactive technology has already had significant effects on various industries and is expected to impact more.
Persuade > Inspire
The ultimate goal had always been to persuade and influence the consumer with your story. But purpose-driven brands have gone beyond this, inspiring consumers past a mere transaction. Put inspiration over persuasion, and watch as the positive emotional response of your customers directly impacts the success of your business. Don’t just persuade a consumer of your story, inspire them to write their own – one that includes you.