Every year more and more new businesses are being created, and with that, there are more choices for consumers to decide where to spend their income. These new businesses now must determine what sets them apart, and for many of them it’s their brand’s story. But what is a brand story? They differ from company to company, but in simplest terms your brand story is the motivation behind your business.
Authenticity. It’s not necessarily what you do as a company but why you do it. There are thousands of companies doing the same thing, but the why of your company is what sets you apart. Consumers want to invest in companies whose stories they can relate to and believe in. This insight shows us how professionals in the brand development space approach the subject, and how you as a business owner should as well.
"But why is it important?" You may ask. Brand loyalty has become more important than the product itself. Look at Apple as an example of this. Former Chief Designer Officer, Jonathan Ive was quoted as saying “People have an incredibly personal relationship with what we make” and he’s right. Buying has become a very personal decision. Good brand stories allow the customer to project their values and personal identity onto the brand.
Let’s take a look at a smaller business and their brand story. MeUndies, a startup out of Culver City, CA that specializes in selling undergarments. This company has blown up over their 10 years of operation, and one reason for their success can be attributed to their customer’s brand loyalty.
The company’s main advertising has revolved around their brand story, which in their own words is “Making the best basics in town so you can feel and be your absolute best.” A company that pushes self-expression and body positivity in an industry that was severely lacking, won over their customers and continues to do so.
All of this talk on how important it is to establish a brand story, we haven’t addressed just how difficult it can be to figure out. This is where the value in a fresh set of eyes is found. It can be an invaluable asset to see your company from a unique perspective and craft your brand story.
When you're so close to an issue, functional fixedness can kick in and make it hard to look at it objectively and from fresh angles.
You as the business owner might believe that your unique selling point, and core messaging would be that your product is organic. However, an outside expert can show you that your brand story should actually revolve around how your business supports local farmers and sustainable agriculture, and that’s where you get your organic product from. This is a much more personal and authentic look at your company that many consumer demographics would love to align themselves with. You don’t need to go with the expert’s advice, but a new set of eyes can only benefit you. This even allows you to work backwards from your brand story to better outline your ideal customer and buyer personas.
A brand story can do a lot for your business and set it apart from the competition. Whether you are an ambitious law office, or creating the next big dating app, crafting an accurate and effective brand story will be fundamental to your businesses success.