Whenever companies approach new markets, new customers, new partners, or simply introduce a new product, they must first be able to communicate their value proposition in order to be successful. To achieve this, it is important to have your products act as “brand ambassador.” Each product must help the customer understand the values of the company that created it, along with why it was created, and for whom. Good product storytelling not only results in success of the product itself, but also creates a consistent brand image in the mind of the customer.
Often, the cause of failure is not the lack of a great product, but instead, the absence of a compelling story surrounding your product. Product storytelling plays a key role in explaining why your product matters, and it is one of the best ways to take advantage of a key ingredient in a product’s success: customer attention. This is true now more than ever, since younger consumers are just as concerned with the values of the companies they buy from as they are with the quality of the products themselves.
A research study published by Google shows how B2B buyers are almost 50% more likely to buy a product or service when they see personal value in it. Buyers are also 8 times more likely to pay a premium price for comparable products and services when personal value is present. (https://www.thinkwithgoogle.com/marketing-resources/promotion-emotion-b2b/)
Now, how do you tell the story of your product while reaching the most customers? Much like how your products need to be distributed through many different channels, your storytelling also needs to be delivered through multiple channels - each with its own characteristics. Therefore, omnichannel presence applies to storytelling as well. When developing your strategy, a lot of time should be spent focusing on how you want to tailor the ways you communicate your brand’s message to the specific characteristics of each channel. While your certainly want to exploit the peculiarities of each channel in order to maximize the efficacy of your story, you also want that story to be cohesive throughout each channel. Finding that balance of delivering the same content in different ways is key.
Omnichannel storytelling is vital, particularly when trying to reach the hearts and minds of our youngest generations. The purchasing behavior of those considered to be Millenials and Gen Z has been overwhelmingly shaped by the digital environment they have grown up in. They spend more and more time on social media and the internet, and it’s through these channels that they engage with businesses. So, to convince them to choose your products, you need to be present where they are and be there when they are looking for you. Just having a good story to tell, or good-quality products, is not enough. You also need to identify the most appropriate channels with which to communicate your values and vision, and then constantly provide new compelling reasons for your potential customers to choose you.
Once you have a compelling story, and have identified the appropriate channel to deliver it with, you must also make sure that the products and services you are offering actually represent that story. As long as the story of your products explains who you are and why you are relevant and useful in solving a particular problem, you will make a better impact than the competitors on your target customers, and show them that your values match theirs. By focusing on telling a cohesive story throughout multiple channels, you will increase your chances of getting your target customers to choose you, and you will retain them in the long-run.