According to these business statistics, more than 20% of small businesses don’t succeed within their first year. Even more fail in their second year. What might have helped them stay alive? Strong strategic marketing. More specifically, good brand storytelling.
A major part of marketing for small businesses is the brand story at the heart of the strategy: the six-second story, the why-what-how. But believe it or not, many out there—especially young or cash-strapped businesses—just don’t see how brand story materially impacts their business success. They think branding is some big-ticket fantasy that lives only in the minds of Coke and Disney—but they are wrong.
Here are a few reasons why brand story is so critical for small business.
It Helps Small Businesses Reach More Customers
Marketing just refers to all your combined efforts to promote a brand and sell your products and services. Whether you’re offering shoes, digital products, or services like plumbing, you need to think of ways to tell the story of your small business to reach more potential customers.
In the marketing world, there are the two ways of telling your brand story:
- Digital Storytelling: Some examples include brand storytelling via social media, video marketing, and content marketing. These channels are used not just to let consumers know that a particular product or service exists, but to communicate the story that compels audience engagement long-term.
- Traditional Storytelling: Offline or…