Every brand has a story. Just like individuals, business have a history of successes, failures and big events that have helped shape their identity.
For brands, though, there’s an advantage. Through the efforts of a digital marketing agency, it’s possible to modify and focus a brand’s story to communicate the information and image you want to project to customers.
Building a brand story requires a step-by-step process. Agencies that focus on digital marketing can walk you through the process. It typically breaks down into the following areas.
Creating a Brand Story
Who Are You?
The first step to creating your brand story is to get to the core of who you are as a company. This means defining your mission, vision and values and what parts of your history you want to communicate with consumers. If you already have those components, ask yourself when the last time was you reviewed them? If it’s been years, it may be time to revisit them and see if they’re in line with what your company stands for currently.
Who Is Your Target Market?
Does your product appeal to seniors or teens? Families with kids or hipsters? Suburban moms or single professionals? Focusing on your brand’s target market supports creation of a brand story that will speak directly to them.
How Will You Tell Your Story?
Deciding on a target market also influences how you will reach them. Different demographics interact with media in different ways. You want to use the right medium – and craft the right message – that reaches and speaks to them.
Test and Target
Once you’ve set your brand story and decide how you will get it out into the world, it’s time to test it. This is where having a digital marketing agency onboard can truly help, as they will have expertise in collecting and analyzing data on how a brand’s story is being received. Underperforming parts can be identified and optimized.
Why Brand Storytelling Is Important
There is a reason that digital marketing agencies often focus on brand storytelling. A strong effort in this area can result in creation of a loyal consumer base. And that’s important because studies show it is 10 times more expensive to attract a new customer than retain a current one.
Here are some ways brand storytelling has an impact.
A powerful brand story forges a strong connection with consumers. A brand’s history and mission, for example, show that there are people behind a brand and that it’s more than a marketing campaign or sales pitch. This creates affinity for the brand, one of the most powerful relationships a brand can have with consumers.
A strong brand story sets a company apart from the competition. This proves especially important in “brand recall” – the ability of consumers to remember where they purchased certain products. That will influence them to return to buy the same or similar product again. It can also help create “brand evangelists” – consumers who tell other consumers about the benefits of your product.
A strong brand story also can help employees within the company focus on the core values of the brand. That also helps leadership make better decisions on potential new products or services by determining whether it fits into the brand story.
Telling your brand story is critical to success. Whether doing it on your own or through a digital marketing agency, it’s important to get your story out there across multiple channels. The connections forged with consumers is worth the effort.