What is Corporate Story Telling?
The modern business world has become a highly competitive place where sustenance of the firm is the key. This is where strategies such as corporate storytelling get its role to play. It is the very aspect of a story, that it captures people’s attention and makes them remember, that makes corporate storytelling a wonderful step towards progress. We, as human beings have always liked stories, right from the bedtime childhood fairy tales to the famous novels of Chetan Bhagat and Ruskin Bond!
Corporate Story Telling, as the name suggests, is the spectacular way of establishing a strong bond with the common people. By the way of bringing the story of the brand, the organization and the company to life, it brings the people to become more of a part of the goal or vision that the organization strives to reach. It is, in fact, the entire population or the common man that makes the organization on the whole. This people includes all stakeholders related to the organization, the customers, the employees, shareholders and so on.
It is often the story of the entrepreneur or the emergence of the brand that takes the stage of attraction in people’s mind. One epitome of this kind of an entrepreneur-personality is Steve Jobs of Apple. It is truly inspiring to hear about the emergence of Apple Computers and is even today a hot chat-topic among the millennial worldwide.
The Significance of Corporate Story Telling - How does it affect the consumer engagement?
"Stories are a communal currency of humanity." -- Tahir Shah, inArabian Nights
Being one of the effective marketing strategies, corporate storytelling has its unique way of connecting with people. The organization and its brand reach the public with the help of the emotional content that story-telling focusses upon. People, which includes you and me, are better able to relate themselves to the organization, its goals, and purposes. Gradually, we are drawn to become the audience of the firm.
A very vital aspect to be talked about when discussing the benefits of corporate storytelling is customer loyalty. When we consider the SWOT analysis (Strength, Weakness, Opportunities, and Threats) of an organization, the major threat that often stands strong is customer loyalty. And an interesting fact is that those who have won them have never had to look back! When people get connected to the organization’s visions, it gets tough for competitors to deviate them and gain the market share. Even studies on advertising have revealed that it is more of the emotional responses to an ad that captures the audience more than the content of the advertisement.
We have classic examples of this. Even the Google’s reunion ad, which narrates the story of a granddaughter tracking down her grandfather’s childhood friend, whom he had not met after the separation between India and Pakistan, is a prominent example. Another exemplary of successful storytelling is by Nike. Nike is always known for their brand-people connectivity and one major source for this is simply their corporate storytelling!
Story Telling as a boon to the corporate – Is it necessary?
‘Corporate Story Telling’ is not a new concept. It started way back in the 1980s and the only change that occurs is the variation in dimensions and methods used to tell the stories. Earlier, corporate histories were connected with people’s meaningful stories. Today, with the advancement in technology and social media, we have even had campaigns with ‘hashtags’ that connect organizations with their target customers.
It is actually one of the best strategies, or in better terms, a ‘marketing technique or tool’ to gain the audience for business. We cannot also deny the fact that the storytelling renders positivity and enhances unity in human society. Corporate communities are created out of this method of corporate storytelling. Thus, an authentic, passionate story of the organization never fails to connect with the people’s heart. To put it in layman terms, powerful brands really know what corporate storytelling can do for their bottom line. They recognize the impact of a good story on their business, and consequently, every business now wants to ‘tell a story’.
The actual knack of telling a story – Getting it right!
"The stories we tell literally make the world. If you want to change the world, you need to change your story. This truth applies both to individuals and institutions."
-- Michael Margolis
As mentioned earlier, we see the power of story-telling is not small for the corporate world. But most often, corporates just get stuck after getting the advice. They find it difficult to proceed from a particular point, that is, how and what is the storytelling techniques? What are the good examples of business story-telling to learn from? What can make the story capture the heart of the public and convert them to followers and buyers? All these questions are vital aspects to be thought about for making progress in the business.
So, let’s get to what actually works behind the success in story-telling. Basically defined, corporate storytelling is the strategic technique of using content to convey the message you wish to convey to the audience, being a good salesperson. This way turns out to create a bigger impact than the traditional advertising methods. Next, given the development in technology, the business world is more transparent and it becomes obvious that customers demand more. This means that the story that is told must be capable of influencing the customer behavior for the business to prosper. Stories help change the perception and deepen the relationship between the customer and the brand. The next important feature to concentrate upon is making the story interesting (inclusion of a dramatic element) to reach the right audience. Context, trust, and simplicity are three normal but powerful words to be set as standards for the story.Being consistent is another important thing to remember. As mentioned earlier, Apple and Nike are the best examples.
Techniques to improve corporate storytelling
Here are a few steps that can be followed to improve corporate storytelling –
It is also important to keep the following things in mind to make the storytelling better –
It is true just as Rudyard Kipling once said, “If History were taught in the form of stories it would never be forgotten!”
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