A good strategy, a good audience and a good connection lead to great branding. Nevertheless, the strategy that worked for one may not work for the other, especially in times where interaction and interconnectivity are in demand. This is where we talk about the art of storytelling.
The internet has prolific content on ways and methods of branding. However, only some talk about the need for storytelling.
In the 2012 Olympics, Nike lost the title sponsorship of the world’s biggest sports event to Adidas. While Adidas’ take the stage campaign got 26k online mentions, Nike’s find your greatness campaign got almost 60k online mentions. Later a report showed, that it was Nike, which people thought had got the title sponsorship of the event rather than Adidas. All this just because Nike’s ad campaign told a story more compelling. While Adidas centred its attention on the Olympics stadium, Nike focused on going beyond that stadium. Not only did Nike save a hefty amount of money but also it received a market of valued customers. And at the end of the day, this is what you want your brand to have, a market where both sides feel equally valued.
As Web 3.0 is giving a rise to independent platforms, brands will have the freedom to present themselves limitlessly. With the increased interconnectivity, a decisive narrative can help you in gaining a loyal customer base in the social space. A story is not just a plain continuation of any abstract, it is something that helps your brand in creating an identity with which people can connect. Something that builds trust and credibility with a need to associate.
As per funnel theory, the very first stage a buyer goes through is the awareness stage which is followed by interest and then desire. When you try to promote your brand by conveying a story, you are directly bringing your customer to the desire stage where the decision-making process takes place. A good and relevant story helps you in saving time to bring in prospective customers.
Further to this, storytelling helps you in incorporating the data and stats in a more comprehensible and user-friendly manner. It gives you an opportunity to bring your brand and your customers on the same page. This makes your brand vision and mission clear in the minds of stakeholders.
Every creator, influencer, and brand has a story to tell. A story that creates a link between them and their audience. A story that helps them to convey their idea effectively to the right audience at the right time. Web 3.0 has the power to take the art of storytelling, in the digital space, to the next level. There will be no third party acting as a gatekeeper. Nevertheless, it is crucial to take ethical boundaries into consideration before promoting anything in the digital space, because what is open for all is vulnerable to judgments by all.
