STORYTELLING Storytelling - or why a product needs a story
"To succeed in the market, it's important to build a perfect product." It's all about quality. "This is still an old-fashioned belief", as Dipl.-Ing. Lars Behrendt, founder and CEO of the Granny&Smith Innovation Lab in Oldenburg, Lower Saxony, knows too well. Having founded his company 15 years ago, he and his team have successfully implemented numerous innovation projects with their customers. But from the numerous projects he did, he also knows that it is not enough to focus on the product. The best product won't sell if it isn't properly marketed. Mr. Behrendt shares his thoughts about the importance of storytelling for the success of a product.
Storytelling - as old as mankind
If you want a product to be successful in the market today, you need a story - one that the target group can easily identify with. In order to write this story, it is important to think about the experience you want your customers to make with your product, the questions it is going to answer and the solutions it is going to provide. People have actually always been fascinated by stories. And what used to be the campfire in the past, is now primarily social media. In fact, storytelling is nothing new in advertising either. Think e.g. of the Jack Daniel's advertising - a classic. The question is: Why is storytelling now more important than ever before when it comes to advertising?
In the search for the unique selling proposition, storytelling provides the answer.
The success of a product depends last but not least on its unique selling proposition, its USP. But why should people choose this one product if it is interchangeable with another one - something which happens easily in an oversaturated market? Answer: It is the story that it's associated with. What is the customer's journey? What do they experience with your product? Considering that most purchasing decisions - up to 90 percent - are emotional, it is not surprising that it is the story of a product or brand that makes their success. For example, people don't normally buy Nike because of their great sneakers. It s about the brand's motivational promise: If no one thinks you can, then you have to. Or - "just do it". So the image of that brand and its messages have outperformed its products.
But when is the right time to start storytelling?
Immediately, i.e. already during the product development or innovation process. Since customers are increasingly less interested in the product than the promised experience, storytelling can help to shape the product. What do I want to create for whom, what story do I want to tell that will capture people and finally make them buy? After all, maybe not the one with the best or perfect product will sell, but those with the best story - story sells.
Storytelling needs those who tell the stories.
Telling a great story is not tough enough. You have to go to the places frequented by your dream customer. You have to go to the biggest campfire of humanity - the Internet or social media. Make those people tell your stories who will be listened to because your target audience trust them: influencers for example.
Storytelling as a key to market success
Only those who know why, how and when people make purchasing decisions, only those who tell the right story and bear an appropriate marketing strategy in mind during the innovation process or product development, are very likely to succeed in the market. "Something that we have also learned over time - we German engineers have always talked about features and facts all these years. Today, however, it's all about emotions and the end customer's 'what's in it for me'. Admittedly, this is a real paradigm shift and not entirely easy for many companies, but in the end, there is no alternative," concludes Lars Behrendt, who has now become an influencer himself and shares his stories and insights daily on the Linkedin platform.