The Power of Storytelling for Your Brand
Have you ever wondered as you watched two similar companies selling the same product emerging in the market at the same time, with roughly the same amount of capital, with similar management styles, even using similar marketing tools, why one succeeds while the other is barely scraping by?
Yes, there are many variables that can play into the success of a company over their competitors, but from a marketing standpoint, the biggest difference between a successful company and a failed one is how they position themselves to their audience. That is the power of storytelling in marketing.
By positioning themselves strategically using the power of storytelling, a company can create a positive image that will influence their audience’s decision when considering which company to purchase products or services from. The company that succeeds is the one that is able to position itself as being better than its competitors, even when they both offer the same product, with the same quality, for the same price.
Just think about it. Put your consumer hat on and think about how you make your purchase decisions. Do you always know for sure what brand of pasta sauce is better when you go grocery shopping? Or do you know for sure what brand of detergent will make your clothes cleaner? Do you have the time, money, and energy to test them all out to find out which one is the best? You don’t! You don’t even have time to read reviews on half of the products or services you buy. So you have to make your purchase decisions based on your perception of quality rather than the actual quality. Don’t worry though, you are not alone. We are right there with you when it comes to making purchase decisions based on how we feel about a brand, and so is everybody else.
Now, put your business hat back on. If you’re taking the time to read this blog post, you probably are, in one way or another, involved in the marketing aspect of your business, and you know that setting yourself apart from the competition can be tough. There are so many direct and indirect competitors out there, all doing whatever they can to capture the market. It may seem impossible to stand out. But are they really trying their best? It can certainly feel that way, but isn’t everyone doing the same thing over and over again? Don’t tell me you haven’t noticed, it’s everywhere!
“Buy our product. It’s better quality.” That is what your competitors are screaming from the top of their lungs. So what are you going to do about it? Scream louder? That’s an option. But there are more cost effective ways to stand out. Instead of telling your target market that your product is better, show them. It’s that simple!
Marketing is such a powerful tool. Use it! I can hear your exasperation. “That’s what I’ve been doing. And so has everybody else, didn’t we just establish that?” And you are absolutely right. The thing is, everyone is doing and saying the same thing over and over again. There’s a reason why you are sick of hearing words like “revolutionary”, “game changer”, “innovative”, etc, etc, etc. Everyone is doing the same thing and selling the same story.
If you want your company to be noticed in a world where everyone is telling the same story, what do YOU do? Do you put out an ad or blog post saying the same thing everyone else does? No! Even if you think you can say it better, you don’t say the same thing. I’m sure you’ve heard the definition of crazy before.
Here’s what you do. Take the time to tell your audience a unique story about your company, your product, your service. Don’t tell them your product is better, show them in a unique way how they can benefit from adding your product or service to their lives. That is what your competition isn’t doing and that is your advantage to beat them.