Brand storytelling for SMEs: What you need to know

In this article, we will take a look at what a brand story is, and why it is important for businesses to have a brand storytelling strategy in place. We will also delve into how businesses can use it to improve their sales potential.

Stories bring people together, connect them, and help them strike a conversation. The same may be potentially true for brands and businesses. Businesses also have a story to tell through their content about why they started their brand, how they got into the business, and the challenges they faced along the way. In today’s times, brand storytelling is likely one of the most crucial aspects of running a successful small to midsize enterprise (SME).

What is a brand story?

According to Shopify, your brand story is a representation of who you are and what you believe in. It conveys the story of your brand’s beginnings, values, objectives, and mission. This story sets the tone for all customer interactions with your brand, both in-store and online. In other words, a brand story is what determines how potential consumers and the general public view your company.

The type of storytelling strategies used by a brand may be determined by the industry the business is a player in, their target audience, and the kind of content marketing they do . The brand story should ideally reflect the brand’s mission and inspire the individual who consumes their content in order for them to feel connected with it. A successful brand storytelling strategy can possibly be one that helps your company grow, expand your client base, boost revenue, and strongly position you in your industry. 

Why should you have a brand storytelling strategy?

As per Semrush, one of the most powerful methods for firms to attract people’s attention and provide consistent marketing messaging is through purposeful brand storytelling. The article goes on to assert that excellent storytelling has the ability to get people to stop what they’re doing, tune in, and connect with a business in ways that other forms of communication just cannot. It also states that when companies find clients who share their values, the likelihood of them being loyal to their brand increases significantly.

With the business landscape possibly turning more competitive day by day, it may get difficult for businesses to grab the attention of potential customers. Consumers are also likely becoming more conscious of their choices and where they might want to invest their money. One of the best ways for consumers to connect with a brand could be through shared values and a compelling brand story. It’s also important to note that a potential customer’s relationship with your brand will almost certainly begin before they even buy your product.

How to tell your brand story?

In this section, we will look at the aspects involved in brand storytelling. Although there are many ways in which businesses can build a brand storytelling strategy, we have listed four steps below.

Understand you brand

Knowing what your brand is and which industry it caters to may help not just your consumers, but also your marketing staff with your brand narrative. A well-written brand narrative can aid them in developing advertising concepts and campaigns that are in line with your company’s objectives and aims. If this strategy is successful, your brand story may potentially organically generate leads —a lead is a person or company who has the potential to become a customer.

Know your audience

Consumers today may be looking beyond price tags. They may possibly be looking to purchase products from a brand that is aligned with their lifestyle and overall beliefs. Once you have an idea of what your target audience wants, you could then figure out how your brand’s narrative fits into their life.

A survey conducted by Sprout Social shows that almost nine out of ten people will purchase things from a brand they follow on social media. According to the survey, 75% of consumers who follow a company on social media will boost their spending with that brand. Having a solid social strategy can help businesses grow by encouraging customers to buy more and spend more with their favourite brands. 

Create an emotional connection through a compelling story

When it comes to creating your brand’s story, you should ideally stay authentic to your brand. Before crafting your brand message, you may want to ask yourself questions like:

• Why did you start your business?
• What problem did you try to solve?
• What was it like to start?
• What is your brand offering?
• What makes you stand out from your competition?

By answering these questions, you may get closer to creating your brand story. 

Highlight the value and passion of your team

Having a driven and passionate team and highlighting their passion to your customers would probably let them see the people behind your company rather than an impersonal entity. When people align with a company’s values and staff, they could potentially show more interest in that business.

In conclusion

Characters, key ideas, and a satisfying climax are all present in every great story and it’s the same with your brand’s story. Determine who or what is the story’s key focus, who you are targeting, and what is that one thing you want customers to know about your brand. After all, it may be just as important to identify yourself as it is to find and connect with your audience when crafting your brand story.