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Storytelling in Marketing

Updated: Nov 29, 2022

Storytelling is a fantastic marketing tool. We champion our clients to “let your brand tell your story," as a great story produces an emotional response, grabs the attention of the audience, and engages people to react in a significant way (hopefully by making a purchase). The author of Start with Why, Simon Sinek, contends it’s not what we do which inspires people to buy, but why we do it. This can be daunting for entrepreneurs and small business owners to define. Start by asking yourself these questions: Why do you want to do what you’re doing? Is this your passion? Are you purpose driven, financially driven, or a mix of both? What led you here? What inspires you? The answers to these questions will assist in determining your brand value.

There are several factors to consider when determining brand value and brand equity. Brand value refers to how much a brand is worth financially. Brand equity is the way consumers feel about a brand and how it aligns with their individual values. For example, Starbucks is a company with extremely high brand equity, which increases their brand value. Several aspects contribute to their success: brand image, brand recognition, and brand loyalty. They have actual fans! Much of their marketing content is created by customers who’ve made a purchase and display their delight by posting on social media platforms.

Starbucks is a worldwide coffee company; how can a small coffee shop compete? They have a wide target market and a wide offering of products ranging in price. Visit the Starbucks website and review the mission and vision statements. “Creating a culture of warmth and belonging, where everyone is welcome." Fantastic sentiments but are they true? We can research competitors by visiting them ourselves to determine what makes the small coffee shop different or unique. A SWOT analysis will clarify strengths, weaknesses, opportunities, and threats. This is how we discover the unique brand story!

Reflect on a small business you support; do they have a relatable mission or interesting backstory? Do their products or services improve the lives of others? Sharing your unique brand story with consumers is one of the most successful ways to engage on a more personal level.

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