{"id":7750,"date":"2019-02-22T09:57:51","date_gmt":"2019-02-22T14:57:51","guid":{"rendered":"https:\/\/blog.brainstation.io\/?p=7750"},"modified":"2020-05-19T16:18:47","modified_gmt":"2020-05-19T20:18:47","slug":"why-storytellers-are-thriving-in-the-digital-economy","status":"publish","type":"post","link":"https:\/\/brainstation.io\/blog\/why-storytellers-are-thriving-in-the-digital-economy","title":{"rendered":"Why Storytellers Are Thriving in the Digital Economy"},"content":{"rendered":"

As every Oscar Award ceremony will tell you, great stories have the power to inspire, enlighten, and of course, sell. This was not lost on Steve Jobs, who once said, \u201cThe most powerful person in the world is the storyteller. The storyteller sets the vision, values, and agenda of an entire generation that is to come.\u201d <\/span><\/p>\n

While that might be a tad dramatic, it\u2019s hard to argue with the man behind the iPhone. And as <\/span>companies increase their digital marketing budgets<\/a><\/span>, storytelling is front and center, and for good reason. <\/span><\/p>\n

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\u201cStorytelling helps build a relationship with your audience,\u201d says Sarah Bugeja, Senior Director, Growth and Acquisition at Couple.co<\/a>. \u201cIt\u2019s easy to deliver a hard sell \u2013 but storytelling takes you to a whole other level. It captures the attention of your audience, and illustrates why someone should care about what you have to say,\u201d she says.<\/span><\/p>\n

With entire industries now investing in digital transformation initiatives, new opportunities abound for those with the ability to spin a good yarn. <\/span><\/p>\n

Here are some reasons why storytellers are thriving in the digital economy. <\/span><\/p>\n

They Have Access to an Unparalleled Amount of Data<\/span><\/h2>\n

The question of how to hook your reader has always been a challenge to marketers and storytellers, but that\u2019s changing thanks to data. <\/span><\/p>\n

2.5 quintillion bytes of data are now created every day, and by 2020, <\/span>1.7 megabytes of data<\/span><\/a> will be created <\/span>every<\/span><\/i> second, for each person on earth. Making sense out of this kind of data is creating untold opportunities for people with data skills, but it\u2019s also been a boon for storytellers and marketers, who can now identify which mediums are most relevant (including blog posts, podcasts, video, social media, and VR\/AR), and then create content that is finely targeted to their audience. <\/span><\/p>\n

It also lets marketers know when something is not resonating. <\/span><\/p>\n

\u201cContent and storytelling aren\u2019t just about a person\u2019s opinion anymore \u2013 there is often rock-solid data to back-up what stories you should tell and what will resonate with your audiences,\u201d Bugeja says. \u00a0<\/span><\/p>\n

\u201cDoing things because someone \u201cthinks it\u2019s a good idea\u201d isn\u2019t good enough anymore. Data science empowers marketers to make strategic and informed decisions when deciding what content to build and stories to tell,\u201d she says. <\/span><\/p>\n

In 2015, for example, Under Armour <\/span>bought the MyFitnessPal health tracker app<\/span><\/a>, inheriting, in the process, a large amount of data. They used this data to discover that the fastest, most committed runners preferred shorts with seven-inch seams. The marketing team then tweaked their content strategy, creating personalized content for that niche of customers. They were able to isolate a specific group, and then tell that group a story they knew would resonate. <\/span><\/p>\n

That sort of refinement is needed today, as consumers are bombarded with information and promotional messages. Telling a story, and telling it well, is often the only way through. <\/span><\/p>\n

People are Looking for More From Brands<\/span><\/h2>\n

Attention spans are not what they used to be; <\/span>six-second mini TV ads<\/span><\/a> now command more attention per second than traditional spots, which only mirrors what\u2019s happening online and on mobile. People have seen it all from an advertising point of view, and are looking for something different. <\/span><\/p>\n

\u201cIt\u2019s more about offering a lifestyle rather than just a single product. Consumers expect more from brands, they want to know what they believe in and what they stand for, beyond lip service\u201d Bugeja says. <\/span><\/p>\n

Jenna Kellner, the Head of Growth at Ownr, agrees but adds that a company\u2019s brand has to be built on a story that tells consumers who the brand is, and who they aspire their consumers to be. <\/span><\/p>\n

\u201cI say \u2018aspire\u2019 because consumers don\u2019t just buy a product, they buy a belief of what they could be if they buy, use, or consume your product. We tell stories to help people visualize what their life could be like \u2013 and what they could be like \u2013\u00a0if they buy whatever you\u2019re selling,\u201d Kellner says.<\/span><\/p>\n

Patagonia, the \u201cdesigner of outdoor clothing and gear for silent sports,\u201d is a great example. The company\u2019s mission statement is to \u201cBuild the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis,\u201d and they\u2019ve made this part of their branding through effective storytelling. <\/span><\/p>\n

The company\u2019s \u201cworn wear\u201d initiative, for example, encourages users to trade in or repair clothing. Customers can also buy second-hand clothing that has been repaired by full-time repair technicians. \u201c<\/span>The Stories We Wear<\/span><\/a>\u201d campaign, meanwhile, gives users a chance to tell their stories of outdoor sporting and adventure, and how their Patagonia gear played a role. <\/span><\/p>\n

These stories highlight the kind of company Patagonia is, and what people could \u201cbe\u201d if they bought their products. <\/span><\/p>\n

Everyone Wants to be Thought Leader <\/span><\/h2>\n

Though the origins of the term are <\/span>up for debate<\/span><\/a>, \u201cthought leadership\u201d as a concept is not new. Its relative importance, however, has skyrocketed over the last ten years, and in particular with the growth of digital marketing. <\/span><\/p>\n

\u201cThere are a few reasons to become a \u2018thought leader,\u2019 but most of them lead back to improving the reputation of the brand to grow the business,\u201d Kellner says. <\/span><\/p>\n

There is evidence to suggest this works. A <\/span>2017 report from Edelman and LinkedIn<\/span><\/a> found that:<\/span>
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