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