Whatever your company does, how long it’s been around and how successful it is, one thing about it will never change. Its story. Where did the idea come from? How was it first developed? What were the initial steps in getting it out there? Crafting and sharing this story with your audience is important for several reasons. The four main ones are listed below, so read on.
Distinguish yourself from your competition
Today the marketplace is full of great products and services, spoiling customers for choice. This can render it difficult for them to make a selection because to them the subtle differences between all that is on offer are not always apparent. In this case, they will often go with the company that best manages to differentiate themselves from the rest by telling a compelling story that builds a strong image of the brand in the buyer’s mind. By sharing details about your unique background, heritage or development, you can easily show how you are different from the rest and convince people to give you their business.
Connect with your buyers in a personal way
There is a very personal story behind many companies. This story could talk about how the idea came to be, who had it and why, and what the challenges were when first developing it. Sharing this will give your audience something to relate to and give your business a more human side in their eyes. This will give you extra points in their books when they are faced with making a hard buying decision between you and your competitors.
Share your passion and convince investors
If your company is just starting out or working on expanding and you are looking for investors, having a good story can be a huge bonus. Tell them how you developed your idea: did it come from a personal need? Or was it inspired by something else that would interest them? How is your business connected to you personally and how will it connect to others? What problems are you solving? Having this worked out will not only help you work successfully but also show potential investors your excitement, passion and dedication, and convince them to invest with you.
Engage and retain your employees
Having a strong company identity is not just important for sales and marketing purposes. It plays a crucial role internally too. If you have a compelling story you can tell every new employee, you give them something to identify with. For example, if your story highlights how your initial product was created to solve a problem the founder experienced and how it quickly became popular among family, friends and clients, you can share a sense of purpose and commitment with your new members of staff. They will feel more strongly about being part of your team and accomplishing your company’s mission. Apart from encouraging them to do their best, you will also be able to retain good talent more easily if they can identify with your business on a personal level instead of just seeing it as the source of a monthly paycheck.