Many companies—maybe even yours—believe that you need to develop a thorough strategy first, and then have an ad agency spice it up with some creative storytelling to make the messages more engaging and memorable. But that’s a misunderstanding.
The Underrated Story
Nothing is more important—or more critical—for a company than nailing down its brand story. It's not an afterthought to the strategy. Storytelling isn’t just another marketing tool. The stories we choose to tell shape both how others see us and how we perceive ourselves. And this self-perception? It influences everything—from the decisions we make to how we act and the direction the entire organization moves in.
In other words, storytelling isn’t just something you sprinkle on top of the strategy like confetti. It’s the foundation. Our stories aren’t just the core of every successful marketing plan that helps us stand out—they also shape the company’s culture and attract like-minded employees, as stories are often the most effective form of employer branding. And let’s not forget that strong stories also build trust—among customers, employees, and everyone in between. Trust is the cornerstone of all lasting relationships.
More 'Why' and Less 'How'
I’m always amazed at how many marketing books focus on how to achieve strategic goals, but how few address the most important question: Why? Why do we do what we do? Why is it important to solve this particular problem? Why should you be part of our company? Why should you invest in us? Why should you choose our product?
Most companies are pretty good at explaining how their product is better than the competition. But they often overlook why anyone should care about the product in the first place.
The answers to the “why” are found in the company’s story. In fact, the ability to achieve strategic goals depends on a clear and inspiring story that gives purpose to everything the company and its employees do. Your story should fundamentally explain why you exist. Why does the world need your company? Why does it matter?
The Product Isn’t All That Matters
Even if you have an excellent product, a compelling story is what drives the company forward. Without a strong narrative, it’s hard to motivate people to buy, engage, work on, or invest in the product. History is full of great products that didn’t succeed because they lacked a compelling story—or because the competitor’s story was stronger.
If you, like me, are a child of the '70s or '80s, you might remember Sony’s Betamax, which far surpassed its competitor, VHS, with better picture and sound quality and a more compact format. Yet, Betamax lost the battle to VHS. Why? Because Betamax never managed to communicate an effective “why.”
Or what about the Microsoft Zune, which in many ways was better than Apple’s iPod? Zune even offered a subscription service with unlimited music, while iPod required you to pay for each song. It also had built-in Wi-Fi, which allowed you to share music wirelessly with other Zune users—something iPod lacked. Microsoft had all the pieces to win the battle against iPod. But without a compelling story, Zune became just another square gadget in a sea of gadgets. Apple showed that technology is only half of the equation. The other half is making customers feel something.
The Chicken Is the Egg!
When you work on your story, you’re not only sharpening your company’s strategy, but also the culture that forms the very soul of your company. At the same time, you tap into the emotions your customers relate to when they buy into your company’s “why.” Unfortunately, many still see storytelling as a creative trick that simply makes strategy more appealing, when in reality, your story is the very core of the strategy.
Improve your story, and you improve your strategy.