PBL 1: Corporate storytelling

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So, what is it?

«Corporate storytelling designates companies’ strategic utilization of stories and storytelling to create coherence and progression concerning the companies’ brand, identity, and development.»

How to deliver a clear message through storytelling?

Human nature makes people love the stories and customers are not an exception. They would like to hear a corporate story and have a self-recognition in it. Why? It creates a connection between them and a company on a human level and engages in long lasting relations.

Valuable to mention, that it should be something that differentiates you from your competitors. It couldn’t be called as a competitive advantage but as a distinctive value of your brand. The «Branding Strategy Insider» defines 7 main features of a competitive brand story, which can help to reach the right constituencies.

  • Your story must be long (in terms of scope)
  • Your story must be deep
  • Your story must be competitive
  • Your story must be social
  • Your story must be communal
  • Your story must be respectful
  • Your story must be protectable

How to reach the right constituencies effectively?

Important, that the channels for storytelling based marketing are as much interactive. Just imagine, what amount of information a customer daily processes. So, to tell a corporate story, a company needs to get closer touch with the customer, comparing what relates to standard media channels. The options could include, like:

Company publications / Speeches and presentations / Meetings and Gatherings / Face-to-face / Email and chat / Blogs and public forums

Now, to the good examples of a corporate storytelling.

AIRBNB — Own way of a corporate storytelling.

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Tiffany & Co’s “What Makes Love True” campaign

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5 Storytelling Mistakes:

  • Being complex and enigmatic
  • Portraying yourself as the best
  • Playing it safe
  • Closing with a happy ending
  • Hiding behind your brand

How do corporations measure the effectiveness of the message delivered to the constituencies?

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Obviously, to measure the results of a corporate storytelling, the marketers need to utilize a broader approach rather than a simple research on investment. For this purpose SapientNitro has introduced a special model, so called ‘Return on Experience’.

The  model is composed of three parts:

  • Brand and marketing ROI: Aggregate measures to assess the return on storytelling and experience initiatives.
  • Return on media and channels: Next-generation marketing mix and cross-media analytics provide a more detailed and accurate picture of channel impact and effect.
  • Experience optimisation: A measurement frame- work to more precisely assess experience with a new frame of reference and new measurement tools, like sensor technology, which produce new forms of consumer behaviour data at a level that can be mined for insights.

To check: TED talks

Sources:

https://www.brandingstrategyinsider.com/2014/09/8-keys-to-telling-a-competitive-brand-story.html#.WIegJLFeMdU

http://www.lhn.uni-hamburg.de/article/corporate-storytelling

http://knowledge.ckgsb.edu.cn/2016/12/12/management/corporate-storytelling-sales-management-tool/

http://blog.mailup.com/2016/09/telling-brand-5-corporate-storytelling-mistakes-avoid/

https://www.linkedin.com/pulse/three-steps-better-brand-storytelling-sam-knowles?articleId=8321088910779559765

https://blog.hubspot.com/opinion/why-storytelling-will-be-the-biggest-business-skill-of-the-next-5-years

https://brandstorytelling.readz.com/the-roi-of-brand-storytelling

https://www.marketingmag.com.au/hubs-c/measuring-return-on-experience-its-roi-for-the-age-of-storytelling/

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