Is storytelling a squishy, feel-good concept, or is it a sound business strategy that can make money for you and your company?
But storytelling can help you make money in a multitude of ways. Here are three big ways:
I put this one first, because it’s the one you can control the most. When you build a strong personal brand, you’re more apt to get noticed by your employer, or other employers. Better opportunities come your way, followed by new jobs and promotions.
When you tell your stories, whether they are about your company, your department, or yourself, you naturally attract people’s attention, including people who want to come work for you. Top talent means better results, and that means more money.
Dr. Joe Phillips experienced this when he was at Kansas City Public Schools, using LinkedIn to tell the story of his department. Working for a public school, he wasn’t in the money-making business, but he still managed to attract top talent.
Differentiation & Trust
When you use storytelling to reach your customers, a few things happen. First, it attracts their attention, because it’s different from what your competitors are doing.
More importantly, customers are more likely to trust you. They don’t trust faceless companies making claims about their products. But they do trust individuals telling stories about how their products help people.
When customers trust you, they are more apt to purchase your products or services. More sales means…you know the rest.
Can storytelling make you money, whether it’s through career advancement, attracting top talent, or increasing sales? Business is complicated, and there are no guarantees.
But having storytelling as a cornerstone of your strategy puts you in a better position than if you didn’t have it.