Ishika Gupta
In this rapidly changing environment products are becoming increasingly commoditized due to immense automation; therefore, it is not the sophisticated technology or the best-thought-new offerings but the impact or perception that the brand has on its target consumer that will create a stand-out offering to capture new market and sustain its existing market.
Hence, certain brands are extensively using storytelling as a method to influence purchasing decisions through emotional fulfilment. To survive the current market conditions which involve cutthroat competition, rampant changes in taste and preferences, and consumers demanding hyper-personalized products or services businesses cannot be faceless entities they need to constantly connect with their audiences and engage at a much deeper level. In 2009, Rob Walker, a journalist, conducted an experiment called ‘Significant Object Study’ to find out if “storytelling is the most powerful tool of all” to do so he purchased 200 objects from eBay at an average price of $1. Subsequently, he approached various authors asking them to write stories for any one of these objects. All the authors willingly agreed to be a part of the experiment; hence he was able to gather 200 stories for the objects. He then again went to eBay to sell these goods with the story added to the descriptions. Interestingly, these transactions generated a revenue of $8000 from the objects that cost him around $129 resulting in a profit percentage of approximately 6000%, clearly affirming the influence of storytelling. Hence, brand storytelling is no longer a recourse but a need to have, impacting businesses' profitability, favourability, and visibility.
In 2006 Apple launched the ‘Get a MAC’ campaign, in which a simple PC vs Mac story was played out, wherein a man dressed in casual clothes introduced himself as Apple Macintosh while another man in a more formal suit and tie combination introduced himself as Microsoft Windows Personal Computer. The campaign aimed to associate PC users as “unpopular nerds” while representing Apple users as young, unconventional, bold, and attractive. This particular campaign amplified customer engagement which stemmed the revenue to a whopping 39% within a year with record sales of 1.6 million macs precisely. Therefore, storytelling can be used as a method to capture the audience's attention and keep them attentive and interested.
Storytelling can also be used to change the persona of a brand so that it can reposition itself in the minds of consumers resulting in the transformation of the brand image. Mahindra’s magnum opus’ You Live Young, You Live Free’ brand campaign featured a brilliant showcase of all of Mahindra Automotive’s utility vehicles, this ad campaign by Interface Communications underscores the position Mahindra holds in the utility vehicles segment. By and large, Mahindra wanted to enter the personal vehicle car segment but to do so they had multiple setbacks hence they used storytelling as a means to change its perception of being a rustic car brand to a mainstream car brand. The campaign was aimed at focusing on its unique selling proposition of being tough and rugged vehicles and how they can be used to enable an aspirational lifestyle.
In 2005, Dove launched a ground-breaking campaign called “The Dove Campaign for Real Beauty. The campaign grew out of a problem when sales for Dove began to decline in England in 2003. Dove identified that their existing communication, as well as communication of competitors to the overlapping target segment, was becoming monotonous, their advertising consisted of the same promises, and the only differentiating factor was the face of the supermodel. Therefore, Dove got lost in the crowded market and was unable to stand out. They also realized that people were becoming increasingly dissatisfied with how they looked and felt about their bodies which were evident from the surveys conducted by Fortune Magazine. Hence, the campaign challenged the negative stereotypes established by the beauty industry over the years, developing an emotional connection and creating a deep sense of consumer engagement. The Real Beauty campaign had a significant impact on brand perceptions as a result sales jumped from $2.5 to $4 billion in the campaign’s first ten years. In addition, its products captivated the market and achieved significant success in international markets.
Uprightly portrayed by Seth Godin “Marketing is no longer about the stuff that you make, but about the stories, you tell”. Therefore, brand storytelling is a way to evoke emotions by creating a narrative weaving together the facts, value additions, and feelings to influence the brand image and create an impact in the minds of consumers so that it can secure a place in the choice set during the decision-making process. A brand needs to persistently evolve itself to create a profound relationship with the audience, constantly seeking to learn more about the consumers that they serve so that they remain at the top of the minds of consumers amongst the plethora of brands.