Scripts can sell for anywhere between $10,000 to $6 million. That’s $6 million for a story roughly 100 pages in length. It’s one thing to put a value on a story – but we know from history that a good story transcends monetary value.
A good story is passed on from generation to generation BECAUSE it has the ability to engage us on an emotional level.
It’s no surprise that some brands are turning to storytelling to grow their business. The London School of Economics says statistics have a retention rate of just 5%, whereas stories a huge 65-70%.
It’s this stickiness that brands need if they want to take consumer engagement beyond the functional attributes of the product, into the emotional attributes of the brand – as Nike and Coke have done.
We’ve found some of the best learnings about brand storytelling come from niche products which usually have an interesting start-up story that defines their brand. For example: the UK’s success story Sweaty Betty, was born when the woman behind the brand was made redundant and was drowning her sorrows over a glass of wine. It’s a story we can relate to on a personal level, and it gives us some insight into the brand itself – hopeful and adventurous. It immediately builds brand affinity.
Niche brands give us helpful learnings which can be replicated with big impact for big global brands, which have a natural advantage: reach and access to consumers. Our storytelling PR model drives growth globally by building affinity and by helping the brand do and say things that are relevant to both consumers and the brand.
What we’ve found working with this method on brands like Sunsilk and more recently Impulse, is that defining a brand narrative gives the brand the scope to be globally consistent and locally relevant. But beyond that, as brands becoming increasingly transparent and social, they start to connect on an individual, rather than functional level – which when it comes down to it, is what life’s all about.
By Sarah Blakers