How Good (and Bad) Positioning Affects Sales and Marketing Metrics
In the go-to-market world, storytelling has re-emerged as a strategy for connecting with customers on a much deeper level.
This approach, particularly focusing on a company's origin story and the foundational "why" behind the company's inception (specifically geared toward why the customer should buy the product) has proven to increase lead-to-customer conversion rates and accelerate sales cycles.
The Magnetic Pull of a Good Story
Humans are hardwired for stories. From ancient campfires to modern boardrooms, stories have always been the medium through which we understand and relate to the world.
In marketing and sales, storytelling is not just about selling a product or service, it's about crafting a narrative that resonates with the audience's values, experiences, and aspirations. Keep in mind that no buying decision gets made without a precedent emotion. Period.
A Company's Heartbeat
Every company has a story of its inception - a reason why it came into existence. This origin story is more than a timeline of events. It's the heartbeat of the company, reflecting its core values and mission. When marketers and sales professionals articulate this story effectively, they do more than just share facts; they invite customers into a narrative that matters.
Consider Apple, a company with an origin story that has become almost mythical. The story of Steve Jobs and Steve Wozniak starting the company in a garage embodies ideals of innovation, always playing the underdog, challenging the status quo, and making technology accessible and beautiful.
This narrative has been central to Apple's brand and is a key factor in its cult-like customer loyalty.
Connecting on a Deeper Level
Understanding and communicating the "why" behind a company's inception is crucial. This goes beyond the what and how of the business, delving into the purpose and passion that sparked its creation. This aspect of storytelling is powerful because it connects emotionally with the audience, fostering trust and loyalty.
Toms Shoes and Bombas Socks are stellar examples. Their story isn't just about selling shoes and socks; it's about their "One for One" model - for every pair of shoes sold, a pair is donated to a child in need. This powerful narrative of social responsibility has been central to their brand, driving sales and customer loyalty.
Crafting the Narrative
In marketing, storytelling involves weaving the origin story and the "why" into all aspects of content and strategy. This narrative should be consistent across the website, social media, advertising, and all marketing materials. It's not just about telling the story, it's about making it relatable and relevant to the audience.
A consistent story across all platforms ensures the brand is easily recognizable and memorable. This consistency helps build a strong brand image that resonates with the audience, making them more likely to convert from leads to customers. Consistency is key.
Beyond Features and Benefits
In sales, storytelling takes a more personalized approach. Sales reps can use the company's narrative to create a connection with potential customers. This involves not just talking about the product's features and benefits, but also framing them in the context of the company's story.
When sales reps use storytelling, they come across as more authentic and trustworthy. This authenticity is crucial in building relationships with potential customers, leading to faster decision-making and shorter sales cycles.
A recent study found that B2B buyers are typically 70% of their way through the sales process before even engaging with your brand. This makes the story that the buyer encounters once they get to you all the more important.
Higher Conversion Rates and Faster Sales Cycles
The impact of storytelling on marketing and sales is not just theoretical; it's measurable. Companies that effectively use their origin story and "why" in their marketing and sales strategies often see higher lead-to-customer conversion rates and quicker sales cycles.
Studies have shown that customers are more likely to purchase from brands they feel emotionally connected to. A well-told company story can create this connection, leading to more effective conversions.
Additionally, when sales cycles are infused with authentic storytelling, they often conclude faster, as the trust built through the narrative accelerates decision-making.
The power of storytelling in marketing and sales cannot be overstated. A company's origin story and the "why" behind its inception are not just pieces of information, but powerful tools that can be leveraged to connect with customers, build trust, and drive sales.
By consistently using storytelling in their strategies, companies can achieve better results, with higher conversion rates and faster sales cycles. In the end, it's about sharing a story that resonates, engages, and inspires - a story that turns audiences into customers and advocates.
