The Power of Storytelling in Business
The Power of Story Telling in Business
How do you communicate to make your brand stay in customers’ hearts? How can customers recall your brand and end up purchasing your products? Why do we enjoy reading an extremely long story? How can we tell a memorable story? A good “Storytelling” can change the alphabet into a powerful and unforgettable story. Let’s experience some insights from professional storytelling, Dr.Pat -Dr.Utain Boonorana or Jaemor, a Content Creator of ‘Dr.Tood and 2-look image’, and Khun Pert – Pongpiti Phasukyud, a Content Creator of Ad Addict.
Why Storytelling is Important for SME
Khun Pert started with an interesting question ‘How many ads do people see in a day?’ The study in 2007 found that we see about 5,000 ads daily. It’s been 13 years now so we could have seen double which could be ten thousand ads. That’s why storytelling matters to SME so SME needs to find ways to attract consumers. A good approach is to share a good story through creative communication to win over customers’ hearts. Most people tend to forget what they say and what they do but not how they feel. Great storytelling is key to help a brand draw their attention and can sit in their hearts.
Dr.Pat asked an easy question ‘How many medium tone consonants are in Thai? Everyone can remember “ไก่จิกเด็กตาย เด็กตายบนปากโอ่ง” and nobody memorizes the alphabets because the story is easier to recall. The research found that we learn by memory and record it as a story. That means we should communicate with the Story, not Factsheet as it will directly penetrate to customers’ brains and their perception. Many SME entrepreneurs might have heard that storytelling leads to customer purchase and business growth. In fact, Dr.Pat said there’s no storytelling like that. The best thing about storytelling is to penetrate to customer memory and memory will turn to compelling power. Another example: when we ask people to share a fairy tale ‘Little Red Riding Hood. Can anyone do that? Most people can tell that story even though can’t remember when they first heard it. It’s like remembering medium tone consonants as a story will become an experience. If people recall us but don’t buy our products, they will buy them in the future. Anyway, when they can’t recall us while they want to buy something, that means we are not their choice. Therefore, the role of storytelling is to attract people and make them know us, and memory will finally do its job. Dr.Pat raised few examples about advertising.
An MBA course in a university. This ad shows a woman’s hand with a man’s hand wearing a ring to her finger, and presents a copy “MBA gives you more than you expected”. Much has been said that if you want a girlfriend or boyfriend, join an MBA. That’s why this story is adapted to create an ad. Selling by a story helps present an experience that anyone can have, and we do that by applying a real Insight for creating a story.
Khun Pert elaborated that we create a story to release its content into people’s minds so that they can feel emotionally engaged and remember us. The key is an Insight that many people misunderstand that it’s a Pain Point behavior or a Solution. In fact, they're something beyond that. For example, Acne products. We tend to perceive that an insight of those who have acne problems is unconfidence. However, Khun Pert pointed out the reason they’re not confident because they want to do something next. If the acne disappeared, they could post a nice look on Instagram, and then they may gain Likes from their friends, or someone would have a crush on them just like the ad that reflects something deep down people’s mind to present to target customers. If you use your products or services as a Solution instead of mentioning only the acne performance, you can hit the target then.
Easy Ways to Search for Insight
People who heard about that ice cream started wondering if there’s a story behind that peculiar name. The staff told us that the Founder wanted to make the same flavor as he had at Boston. He mixed milk and cream as a base recipe with trial and error. The taste is close to the original on his 18th trial and that is the history of ‘Don’t give up #18’. People who have that ice cream can feel some experience. This is an example that Khun Pert realizes that SMEs shouldn’t start with film advertising because advertising nowadays doesn’t always limit to film. You’d better start with your brand or products and the message and products must be well-matched. Your products must be high quality and in line with their messages; otherwise, you’ll get the negative impact of deceiving customers.
Khun Pert notices that many SMEs have faced challenges when creating Storytelling for their products as products are not self-manufactured but ordered from others and then placed brand stickers on them. When you order products from OEM (Original Equipment Manufacturer), how can you tell the story? Would you tell your story? Some people were laid off or wanted to run a business to get rich, so they don’t have any story to share. Khun Pert recommended another 4 issues that can be your source of storytelling.
New Trends in Storytelling
The Art of Storytelling
Storytelling consists of 3 types of rhythm.
insight and create an experience for them honestly. Apart from telling product benefits, SMEs can express their belief in something and their attitude towards society. Also, study people’s behavior to consider which part of your story fits them and in a timely manner.
present information related to us. A high-quality product is base and reflects good storytelling. There’s no fixed rule for marketing and communication. Take an action by yourself to get lessons learned until you discover your own formula.
Source: “The Power of Storytelling in Business” a seminar topic in Digital SME Conference Thailand 2020, September 15, 2020