Brands/Products
How Effective is Storytelling in Marketing?
By Kenneth Horsfall
To begin with, what is storytelling generally? According to wikipedia.org, storytelling is the social and cultural activity of sharing stories, sometimes with improvisation, theatrics or embellishment.
Every culture has its own stories or narratives, which are shared as a means of entertainment, education, cultural preservation or instilling moral values.
Crucial elements of stories and storytelling include plot, characters and narrative point of view. The term “storytelling” can refer specifically to oral storytelling but also broadly to techniques used in other media to unfold or disclose the narrative of a story.
Storytelling is one of the oldest yet most powerful communication tools we have as humans. Stories help us to share, engage and comprehend in ways few other mechanisms can.
In marketing, storytelling provides an avenue to connect to consumers unlike any other. Brands are empowered to share and sell their values and personality in a form that feels less like advertising and more like a concerted effort to strengthen customer relationships.
Storytelling’s importance to marketing is undeniable; Jennifer Aaker, a professor at Stanford’s Graduate School of Business, puts forward three core reasons as to why:
- Stories Shape How People See You
- Stories Are Tools Of Power
- Stories Persuade And Move People To Action
- Stories shape how people see you:
Brand narratives help form perceptions and attitudes. How people speak about and the way a brand presents itself all influence key metrics such as purchase consideration and brand loyalty. There is power in crafting stories to develop a desired identity and authenticity that hopefully resonates with consumers.
Try thinking about a brand you particularly like. Now imagine they were a person. How would you describe them to friends?
- Stories are tools of power:
One of the best things about a great story is the ability to engross and capture an audience completely. Think about the last book you read that you just couldn’t put down or a party you’ve been to where someone shared an anecdote that had people hooked on every word. Often is the case, you’re completely absorbed in what your reading/hearing and time feel like it slows down around you.
In the world of marketing, communicating a great story has the potential to cut through much of the monotony of today’s advertising by presenting something that is unique and captivating, making consumers stop and listen.
- Stories persuade and move people to action:
Stories are far more impactful in promoting retention and behaviour than functional messaging. A London School of Business study found that when people hear statistics alone, “they retain only 5% to 10%” of what they’ve heard. Yet, “when stories are used to convey the same information, retention jumps to a remarkable 65 to 75%.”
Now, understanding the importance of storytelling, what makes an engaging story? How do marketers create a desired feeling and experience for their consumers to help drive brand connection?
Matthew Luhn, story consultant and animator known for his work in Pixar movies such as Toy Story, Ratatouille and Inside Out, shares five core elements he believes all great stories should possess:
- Hook
- Character transformation
- Connection with the audience
- Authenticity
- Structure
- Hook:
The hook relates to the story’s core theme. In essence, what will draw people in and make them compelled to see what is about to unfold? Luhn explains it usually needs to be something unusual or unexpected to grab the audience’s attention immediately.
- Character transformation:
Once you have captured the attention of the audience, it is important to take them on a journey. Stories inspire transformation. People tend to live vicariously through characters. It is, therefore, essential to question; what is the message we are hoping to convey, and how will this advertisement effect a change in the consumer?
- Connection with the audience:
A story may be expertly crafted in hook and transformation, but if you don’t truly understand the audience you are trying to appeal to, it is likely to become lost or ignored. It’s not simply a case of knowing demographics either; a strong comprehension of things like audience values and motivators is critical for connection. Luhn uses the example of Ratatouille:
- Authenticity
Authenticity is perhaps one of the most difficult aspects of storytelling in marketing, Consumers are often wary that they are being advertised to. It is, therefore, important to communicate something that comes from a piece of truth based on enduring insight rather than something that feels manufactured.
- Structure
Finally, how the story is told is critical for its success. Simply put, structures that comprise a set-up, conflict and pay-off are believed to be most effective in storytelling.
Storytelling is a powerful method of learning. As marketers, we should always seek to learn more about the world we live in, the brands we represent, and the consumers we serve. One of the things that are unique about stories is that they transmit knowledge and meaning. We learn from observations and first-hand experiences and by sharing those experiences through stories.
Storytelling can be a powerful tool that enables marketers to understand what is going on in the marketplace and what that means for the customer, consumer, society, brand, and company.
In addition to being an important strategic tool, storytelling can be an important tactical tool that lets marketers engage consumers in a fragmented media world. Because there is such media fragmentation, consumers are not just looking for different experiences but different delivery. Why should a consumer give you their time? Storytelling isn’t just a creative approach to marketing. It gives your consumers a totally different entry to your brand.
Kenneth Horsfall is the creative director and founder of K.S. Kennysoft Studios Production Ltd, fondly called Kennysoft STUDIOs. Kennysoft STUDIOs is a Nigerian Video and Animation Production Studio. He is also the founder and lead instructor at Kennysoft Film Academy. He can be reached via [email protected]
By Adedapo Adesanya
International Workplace Group (IWG), the world’s largest provider of hybrid working solutions with notable brands like Spaces and Regus, is opening two state-of-the-art flexible workspaces in Lagos to meet the rising demand.
The addition of IWG’s latest locations, HQ Lagos Lekki Link Bridge and Regus Lagos Mansard Place, followed the business posting its highest-ever revenue, cashflow and earnings growth in its history and achieving rapid network growth, signing 465 new locations in the first half of 2024 alone.
According to the company, the adoption of hybrid working rapidly is accelerating across Nigeria and these new locations in Lagos are part of the drive by IWG to meet the sharply rising demand for top-class flexible working space in the area.
Its unique offering will enable local people to experience living in a “15-minute” city, allowing workers to work close to their homes without commuting far from where they live.
The HQ workspace is set to open in Lekki in March 2025 and will It will be located on the 2nd and 3rd floor while the Regus location at Mansard Place (situated at Plot 928, Bishop Aboyade Cole Street, Victoria Island) will be on the 3rd floor of the six storey building and will open in February 2025.
The buildings will provide space for established firms and start-ups across a range of industries, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new locations will include facilities including private offices, meeting rooms, co-working and creative spaces.
With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30 per cent of all commercial real estate will be flexible workspace by 2030 and IWG believes that partners will be able to capitalise on this fast-growing sector,
The potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than £1.57 trillion. Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead.
Last year alone, IWG welcomed over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.
Speaking on this, Mr Mark Dixon, CEO & Founder of International Workplace Group Plc, commented: “We are establishing a stronger and much-needed footprint in Nigeria with this these latest openings.
“As an important business hub Lagos is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal.
“We are very pleased to work in partnership with Sterling Bank and APD Mansard Place to develop the brand under a management agreement that will add a cutting-edge workspaces to their the buildings.
“Our openings in Lagos comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”
By Modupe Gbadeyanka
Another award has been added to the shelves of Airtel Nigeria for the quality service it offers its numerous subscribers.
At the 14th Nigerian NewsDirect Awards held at the Lagos Oriental Hotel on Friday, December 6, 2024, the company went home with the Most Preferred and Admired Telecommunications Brand award.
The chief executive of Airtel Nigeria, Mr Dinesh Balsingh, thanked the news platform for the recognition, reiterating the dedication of the organisation towards the growth of Nigeria.
“At Airtel, we remain steadfast in our mission to enrich lives and contribute to the sustainable growth of our nation, and we are proud to receive this award as the Most Preferred and Admired Telecommunications Brand.
“This recognition reaffirms our commitment to connecting Nigerians, driving digital inclusion, and empowering communities through innovative solutions,” he said.
The ceremony, themed Achieving Economic Prosperity: The Role of Human Capacity Development, Fiscal Prudence, and Revenue Generation, celebrated outstanding contributions made by individuals and corporate organisations to national development across sectors and industries.
The chairman of Odu’a Investment Limited, Mr Bimbo Ashiru, thanked all participating entities for their “continuous contributions and support to the nation’s growth.”
“You have demonstrated excellence and have significantly contributed to Nigeria’s progress and we believe this platform will continue to highlight and encourage best practices across industries,” he stated.
The event attracted several persons, including the chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair; and the Registrar-General of the Corporate Affairs Commission (CAC), Mr Hussaini Ishaq Magaji; among others.
By Modupe Gbadeyanka
The second edition of the Ibadan Chops and Chills Festival held on December 1, 2024, received the backing of Rite Foods Limited.
It was a platform for young entrepreneurs, food vendors, and entertainers to showcase their talents and promote the rich cultural heritage of Oyo State in particular, and Nigeria in general.
Rite Foods used the event to foster growth and innovation among enterprising youths in society in demonstration of its commitment to youth empowerment and community engagement.
The Corporate Communications Manager at Rite Foods, Mr Innocent Adulugba, said, “As a manufacturing company driven by innovation, Rite Foods Limited believes in the power of young people and the importance of providing platforms that enable them to showcase their skills and talents.”
“The Ibadan Chops and Chills Festival aligns with our mission to inspire, support, and add value to talents and entrepreneurs across Nigeria,” he added.
“Rite Foods Limited recognizes the Ibadan Chops and Chills Festival as a platform for growth and that is why the company is here today to leverage support so the participating food exhibitors can benefit via joint marketing efforts, co-promotions, and expanded distribution channels under one roof,” Mr Adulugba stated.
“We are partnering with food vendors to offer consumers a more comprehensive and enjoyable experience, such as pairing beverages like Bigi, Sosa or Fearless with complementary food options of their choice,” he noted.
Also speaking, the convener of the programme, Ms Chinwendu Festus of Wendy’s Kitchen, said, “The first edition of Ibadan Chops and Chills was a success, which inspired us to aim higher this year.
“Our goal is to provide young people with the space to showcase their culinary talents, grow their businesses, and connect with a broader audience.”
The Commissioner for Youth and Sports, Ms Wasilat Adefemi Adegoke, stated, “This initiative is one of the best I have seen. It aligns perfectly with our administration’s goals of empowering the youth, promoting cultural heritage, and fostering talent.”
It was gathered that the festival featured cooking competitions, entertainment shows, guest tours and vendor exhibitions, which highlighted the diversity and ingenuity of participants and the diversity of food options on display.
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