Do you think of Michael Jordan when you buy a new pair of Nikes? Do you watch Shark Tank, connect with a product’s story, and try it out? These are just a couple of examples of how a brand’s story influences what we buy and consumerism as a whole. Now more than ever, consumers crave emotional connection. In fact, a study was conducted that found 73% of consumers were willing to pay more for a product if they loved the brand.
What is a Brand Story?
A brand story is a deep dive into how consumers perceive your company or product. The story can start with a backstory and constantly evolve with time, but the general tone and message need to stay consistent. The brand story encompasses how a company makes a consumer feel and the emotional reaction it elicits. The story is told through every aspect of a company, including:
- Advertising
- Website
- About Us page on your website
- Colours and logos
- Customer experience
Creating Your Brand Story
Every company has a story. If you are still trying to discover what yours is, there are some places you can look.
- Tell the story of how your company began.
- Explain how you found the need for a product or service and then created it.
- Tell the backstory of the creators or employees of your company.
- Show consumers how your product or service made an impact on those who purchased it.
- Share a mission your company has to improve the world, such as sustainability or helping a charity.
Tips for Telling Your Brand Story
Once you have decided what brand story you want to tell, you must decide how best to communicate it to your consumer base.
- Create a clearly defined story with character development, conflict, and resolution.
- Keep the storytelling simple. People do not need to be overloaded with information. The story should be short, impactful, and straightforward.
- Focus on why the brand exists and what value it adds.
- Use the story to create a personal, emotional connection with consumers.
Where to Tell Your Brand Story
Choosing where to communicate your brand story is as important as the story itself. There are many mediums to choose from. Which ones you should choose depends mainly on your product and target audience.
- Website: Communicating your brand story is crucial for brand success. The home page creates a first impression, while the About Us page tells your company’s story.
- Social Media: In 2023, 58% of United States shoppers reported purchasing something after seeing it on social media. Video marketing, in particular, is proving effective. Still, it is essential to research your target audience and their social media trends to determine which platform and form is best for you.
- Influencer Partnerships: Influencers can be incredibly effective at getting a company exposure, but it is essential to pick an influencer who reaches the intended demographic.
- Email Marketing: Although email marketing might seem like a dying medium, it remains substantially effective. As of 2022, email marketing had an open rate of 20% and a click-through rate of 3%. Best of all, email marketing is budget-friendly.
Brand Stories That Made an Impact
There are endless examples of companies effectively growing their customer base using brand stories. Here are a couple of examples.
Chase Sapphire Card
After interviewing millennials across the United States, J.P. Morgan discovered this demographic wanted flexible dining and travel rewards. In response, they launched a Chase Sapphire card promotion for a 100,000-point sign-on bonus, $300 in travel credit, and partnerships with a long list of airline, hotel, and restaurant partners. In response, Sapphire use among millennials increased by 70%, and new account growth rose by 40%.
Stanley Tumblers
Many would be surprised to learn that Stanley has been around for over a century. Today, it is a viral must-have item targeting women, adolescents, and TikTok users.
Stanley tumblers were initially marketed towards men, but that all changed in 2017 when Ashlee LeSueur, Taylor Cannon, and their cousin Linley Hutchinson highlighted the products to their blog readers and Instagram followers. Stanley began selling Stanley Quenchers wholesale to the bloggers who sold them through their platforms. The rest was history.
Assistance With Brand Story Strategy
Brand storytelling is incredibly compelling, but it is also complicated. The intricacies that are involved in creating and executing storytelling are overwhelming. That is why Oracle Tree is here to help. Our experts are skilled and experienced at creating unique, individualised brand story strategies to ensure your brand will reach and make a connection with the right audience. Contact us today for more information so we can get you on the road to success.
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