Biz storytelling and revenue generation

Ever thought why venture capitalists or private investors dole out crores of rupees on an idea well-presented by a group of people? Across the globe, people are re-learning the way business stories are narrated. It is the same way content marketing of any company is designed. Great products,  customer advantage and unbelievable pricing and the perfect brand story is ready.

But do employees of every organisation tell the brand story the same way? Interestingly, a University of Prince Edward research states that 76% of global organisations do not train their people to tell organisational success story effectively. In a typical modern organisation, the product management team largely crafts and communicates the company narrative. It is usually done by combining market research and insights from sales, product and prospects/customers.

Then why should people learn business storytelling? To write a success story, eventually. And ensuing points present the exact connection between a company that tells the right story and its revenue.

* Employees are motivated to work with it even if the job is routine and mundane.

* Teams operate collaboratively, creating same or similar products but keen to get new levels of results.

* Target audiences are loyal to the brand.

* Repeat customers are best revenue generators. They come back because they believe in the story of the organisations.

* Also, the sense of pride ensures lower attrition.

So what does one do to keep it going?

Take the lead ahead: At times, a not-so-high ranker have told better stories than someone at a CEO-level. La Renon Healthcare Pvt Ltd ranks in top 50 pharmaceuticals companies in India. The company’s over 1000  employees tell their organisational story with great pride.  

Long monotonous monologue: Boring and overdone talks get on people’s nerves as most attendees are hard-pressed for time. Time versus information imparted is crucial. Remember, it’s a story of the organisation, and not a balance sheet report.

Confidence and dominance: Power of any person lies in the way of thinking. Most people feel powerful when they take the decision themselves and rely on self-gathered information. Dig deep and mine your own experiences. Share them but just be clear that you are not the hero.

Conflict is a good word: As long as storytelling goes, it is. A story without a challenge simply isn’t very interesting. “Good storytellers understand that a story needs conflict.” Is there a competitor that has to be fought bravely? A market challenge that needs to be overcome? An old method-oriented and resistant-to-change industry that needs to be transformed? If you want to suggest that the road ahead will be difficult, go ahead. Say that as this is the only time you can do it. People love to be part of a struggle because each one wants to be the part of winning journey. Everyone wants to be a hero in the story. Remember the remarkably popular advertisement of Dhara cooking oil that said ‘My daddy strongest’? Each child wants a hero in parents. Good storytelling helps to create heroes.

Facts, data, figures and all the rational things that business leaders think are important in the business world actually don’t stick in our minds at all. However, stories create pictorial memories by attaching emotions to things that happen. Harper Collins India had made an advertisement,  saying ‘Stories create books.’ And it is by far, one of the best brand storytelling that made millions of people view that advertisement and reminded its viewers the power of the brand.  

The writer is a strategic advisor and premium educator with Harvard Business Publishing