Storytelling In Business

Why Storytelling Is An Increasingly Important Part Of Business Today 

By Lucy Harris, Intern at Kai Communications 

In the modern business environment competitiveness is at an all-time high and in a consumer-driven market every business is trying to have that edge, a new hook to draw audiences in. Something that is becoming increasingly important in business, which has already been around for centuries is storytelling. 

The art of storytelling in business is becoming increasingly important to attract engaged and loyal consumers by creating deeper connections to the brand. According to research covered in Harvard Business Review customer’s spend more when they are emotionally connected to a brand, as it feels more relatable and creates a sense of belonging and understanding. 

The UK customer satisfaction index for 2023 shows that 75% of customers have an emotional connection with an organisation when they have developed feelings of trust and reassurance. Customer satisfaction, transparency, and connection go hand in hand creating lasting relationships. 

Research from Stanford University revealed that stories are remembered up to 22 times more than facts, and can move audiences emotionally. Moving away from facts and figures, which are often disputed, to the more persuasive art of storytelling can set you apart, differentiating yourself from other competitors by communicating your values, and making the business accessible and engaging to a wider audience, instead of being seen as a faceless entity. 

Storytelling is a real art. By bridging the gap between an organisation and its audience an authentic relationship can be made. It’s not just about selling a product or service it’s about sharing memorable stories to create a lasting connection and impression.  Storytelling can be the difference between just stating what a company does and going one step further by sharing a story that explains what the organisation does, and why that matters. 

Here are some suggestions on ways to tell stories through business; 

1. Brand Story – Crafting a compelling narrative that communicates the history, mission and values of your brand can make it relatable and showcase the human side of the business. If applicable tell the story of how the business was founded, with challenges and successes along the way to give some insight into the journey. 
2. Customer and Community Success Stories – Testimonials, case studies or even before and afters can turn facts and figures into real people and allow audiences to connect and understand the success of your business. Share stories of the positive impact your business has had on the local area and clients to increase engagement.
3. Employee Stories – Highlight the stories of your team members to show their journey within the company, personal achievements, or challenges they have overcome. 
4. Content Marketing – Integrate storytelling into your content marketing strategy by creating product narratives. Instead of simply listing features create a story around your product and show it in action, how can it solve a problem, or enhance consumer’s lives. 
5. Social Media Content – Using different social media platforms and visuals or interactive content is important so you can match the viewer/reader to a particular reality.