Benefits of storytelling in Business

You don’t have to look for to find a brand that has nailed storytelling on its communication strategy.

Nike, on of the world’s biggest footwear brands, has been using storytelling for decades, which has helped position it as authentic and motivational brand that everyone can relate to. It achieved this by masterfully pushing the “Just do it” narrative in its stories, the first of which included an inspirational tale of eighty year old man doing what he can to keep fit- highlighting the everyman appeal of the brand.

Apple, Walmart, Nestle and many of the largest companies have achieved similar success with using storytelling to resonate with their audience and achieve a broad appeal.

The benefits of powerful storytelling in business are clear. It can help you not only gain and edge on your competition but also to nature your leads, grow your brand and more importantly, develop a more loyal and engaged audience. Overtime, this can work to boost profitability , improve customers retention and even convert leads into customers more efficiently than before.

According to a 2016 Harvard business review, analysing the emphatetic cultures of 170 prominent comapanies, the top ten emphatetic companies happen to be some of the biggest and most successful- including Facebook, Alphabet (Google), Netflix, whole foods market, and Unilever.

Great storytelling turns a brand into a familiar, friendly enterprise and can create a legacy that will pay dividends for years to come. But few brands today opt to take the time to weave authentic storytelling into their brand messaging and advertising strategy.