Why does storytelling work for both business and consumers
What is storytelling?
In the context of companies, I like to think of storytelling as the union of two worlds: that of stories and that of business. In other words, harness the power of stories to meet a business or organization objective.
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This is not the only definition and you can find many more if you do a quick search on the internet, but for me, it is aligned to see storytelling beyond entertainment and more as a strategic tool for the company.
Being something strategic, it is implicit that you must be clear about what you will use storytelling for. It’s not about telling any story just because you read out there that you should understand one to the board of directors, customers or your team.
Why does storytelling work for both business and consumers?
A good story motivates action, and this suits companies, entrepreneurs, and all those who fight for the attention of consumers, employees, investors, followers, etc …
Probably that’s why you listen and read more and more about storytelling.
Elements of Effective Storytelling
To sell
It implies going beyond the advantages that your product or service can have, and complementing, for example, with stories of how other customers have benefited or have managed to solve their problems.
“Based on real comments” from MercadoLibre, it clearly shows this: customers who have benefited from buying there, and although their goal is to position the brand, it is clear that it is linked to selling more, and for that, it relies on the stories behind the comments.
Get investment
No one will invest in your company or organization if you only say: “we do this and that. Give us your money. Thank you.”
It is better to involve investors in a story, tell why the idea arose, what was the problem you detected, how it affected you, the challenges you have had, how you have overcome them. Situations that help you generate a connection and therefore motivate them to invest.
In the Shark Tank program, it is common for entrepreneurs to start with a story: the moment they discovered the problem. Other times the same “sharks” are those who ask the entrepreneur’s story, showing that not only the product or service matters (I recommend the Tree T-Pee pitch).
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