Posted on : 2023-09-15 03:23:47
Article : Good evening Friday management TASK 259 - Do you remember the day you bought your first pair of sneakers? You likely remember the store you bought them from, the anticipation of taking them home to pair them with a new outfit, and how the entire experience made you feel.
Do you remember the day you bought your first pair of sneakers? Likely you remember the store you bought them from, the anticipation of taking them home to pair them with a new outfit, and how the entire experience made you feel. Customers are having similar experiences with the fashion brand every day and storytelling can capture these experiences and help engage future customers. Through the stories of other happy buyers, your customers’ purchasing decisions become a little easier. The intent of storytelling is to serve your audience with more meaningful content that amplifies your DNA, to show your audience who you are and what you stand for. But not every story is a good story.
Brand storytelling is a marketing strategy that helps brands connect with their target market using stories. The narrative is designed to build an emotional connection and help consumers match the brand with their own core values. Brand storytelling is a long-term play—but one that’s worth investing in as it creates brand advocates, strengthen the marketing campaigns and defeats ever increasing advertising costs. Compelling stories can be up to 22 times more memorable than pure facts alone. Moreover, storytelling releases the love hormone oxytocin in your audience, a process that makes them a lot more likely to buy from you. Storytelling helps your brand to stand out in a sea of “me-too” advertising and marketing content. It helps your audience to focus on your brand or product above others.
Our brain thrives on storytelling. We are programmed to listen to stories, we are programmed to tell stories. Every company needs a story to tell the world that represents the essence of their brand to the world. A brand story is absolutely essential to selling your product, or service. Brand stories activate emotions and communicate values. Your brand story is a complete picture of various elements from website copy to social media, to traditional ads. It’s the way your brand presents itself to the world and the way the public perceives you. We need narratives for CEOs to inspire others to join their cause, for sales team to convince people to buy, and for customer support centres to convey a positive experience.
Brand narratives evolve over time, changing to suit the product, the market, culture, and the audience. A brand’s story must be true, and it must help sell whatever it is you’re selling. You can’t control a brand’s narrative (and your audience may take it places you’d never expect it to go), but you can shape it. The most important rule of brand storytelling? Your brand is not the hero but the consumer is. To resonate with your audience, your brand should play a supporting role that will help improve their life.
If we look straight at the growth of the company with their marketing strategies then it’s worth considering McDonalds’ horizontal growth and there by its vertical revenue growth. Its not depended on marketing story telling except physical execution of marketing strategy. McDonald's marketing strategy has helped the company achieve the success it commands today. From the start of its growth, the company wanted to build strong brand recognition and market penetration to help promote its growing franchise business. As the company's number of customers grew, they did more research on demographics to help them target easily. McDonald's marketing strategy includes investing in online and offline marketing methods that spread its clear, brand-cantered messages to a large audience and using other channels like its dedicated mobile app to reach and keep loyal customers.
In our Monday morning Management solution for this TASK post we would discuss few more examples on this marketing strategies aspect. Meanwhile please post your comments and experiences with few brand examples which can help management fraternity to gain more useful information. Our Monday morning Management solution post will be posted 18th Sept 2023.
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