How Brand Storytelling Can Help Companies Differentiate Themselves From Competitors
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How Brand Storytelling Can Help Companies Differentiate Themselves From Competitors

In this fast-paced digitally-driven society, technology is advancing at an exponential rate. We are constantly bombarded with digital solutions at a click, which has made creativity and human connection a valuable asset. People are seeking relatability and uniqueness in everything, through which they can emotionally connect themselves. In times like these, there is no room for lifeless business entities. To survive, businesses must have a brand identity through which they can connect with audiences and differentiate themselves from peers. That’s where brand storytelling comes into the picture.

Psychologists have discovered that the human brain is 22X more likely to recall facts if they are linked with a story. Additionally, through a research conducted by The London School of Business, it was found that people only remembered just 10 per cent of the facts presented to them in a series of hard figures and facts, whereas if the facts were presented in a story format then people tend to remember up to 70% of it. Moreover, Harvard Business Review published research indicating that when a brand’s product is coupled with a story, then the perceived value of that item increases by 2,706 per cent.

Brand storytelling can make the consumers understand why exactly the brand exists and what problems it is solving in the first place. Telling stories that engage customers can create a strong connection between the brand and the consumer, helping to build loyalty and understanding of the brand’s purpose and mission. This connection can further create a lasting impression, leading to increased sales and profit maximization.

There’s nothing more convincing, relatable, and powerful than storytelling, which allows for building an emotional connection between two entities. Storytelling can bring life to nameless and faceless entities. It can add personality, emotion, and color to a product or a brand, which will help in generating a deeper bond with consumers.

When we talk about brand storytelling it’s not just about creating a backstory in the minds of the audience; rather, it’s about picturizing a unique narrative that differentiates it from competitors.

Creating identity through brand storytelling
Brand storytelling is a tool for marketers to create an emotional connection with their customers. It involves creating a narrative that reflects the company’s values, mission, and purpose. Through storytelling, businesses can create an engaging and memorable experience for their customers.

Essentially, brand storytelling creates an emotional connection with people based on the value the brand shares with them and their requirements. Businesses can create a more meaningful relationship with their customers and foster loyalty. Further, it can also be used to differentiate a business from its competitors and to create a unique identity.

Originality is what sets you apart
Any brand can tell a story through ads and the ‘About us’ column but, portraying authenticity and reality through storytelling while keeping the brand image in mind is difficult. Originality helps to create a strong connection with the audience, as they will be more likely to remember and relate to a narrative that is different from the rest. At the same time, one should have something fresh and exciting to keep the audience entertained.

The marketplace is overly crowded and businesses are fighting for seconds of attention but originality can make a difference. Being creative and unique helps to make a brand stand out from the competition and capture the attention of potential customers. Ultimately, originality is essential for successful brand storytelling and can be a powerful tool for businesses to reach their goals.

Prerna Aggarwal, Chief Marketing Officer, Campus Activewear Ltd.

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