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Professor Jennifer Aaker and venture capitalist David Hornik explore the importance of stories in fueling growth and innovation in your company as well as the role of stories in shaping how others view your brand
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The Power of Storytelling: Making Brands Come to Life
Welcome to:
Today’s webinar will begin at 9 a.m. PTFrom the United States and Canada: Toll free: +1 (800) 868-1846 -- Participant code: 83916826Outside the United States and Canada: Toll: +1 (404) 920-6361 -- Participant code: 83916826
Hosted by Jennifer Aaker
New CourseXINE217:
The Power of Stories to Fuel Innovation Taught by Jennifer Aaker
Learn more at: create.stanford.edu
A big idea is not enough. You need people to create it and people to buy into it. Your big idea needs a story. Stories fuel innovation. They hold the power to transform listeners; to take listeners on a journey that changes how they think, feel or act. This interactive online course covers the variety of roles a narrative can play, and its potential to transform an organization or new venture. Explore why story is at the heart of effective innovation and how story can be used to transform culture.
Featured Course: The Power of Stories to Fuel Innovation
David Hornik has worked with technology startups throughout the software sector. In 2000, David joined August Capital to invest broadly in information technology companies, with a focus on enterprise application and infrastructure software, as well as consumer facing software and services.
Jennifer Aaker is the General Atlantic Professor of Marketing and Ormond Family Faculty at Stanford University’s Graduate School of Business. Her research spans time, money and happiness. She is widely published in the leading scholarly journals in psychology and marketing, and her work has been featured in a variety of media.
The Power of Stories: Making Brands Come to LifePresenter and Special Guest
See stories as an asset.A tool to emotionally connect your audience,
influence culture, build a brand and spur innovation
Goal
TABLE OF CONTENTS
WHY ARE STORIES IMPORTANT IN BUSINESS
FOUR STORIES
Q & A – SUBMIT YOUR QUESTIONS!
STORIES IN
BUSINESS
A story is a connected series of events - with a beginning, middle and end.
It is a journey that moves the listener. When the listener goes on that journey, they feel different,
sometimes even transformed.
Story
Stories are all around us.
Researchers found that personal stories and gossip make up 65% of our conversations.
Some stories are small – 6 words or 140 characters; others long – a book or movie.
Your best stories are told in multiple forms and lengths.
Jeremey Hsu (2008) http://www.scientificamerican.com/article.cfm?id=the-secrets-of-storytelling
What kind of effect can storytelling have for business?
How can storytelling contribute to a successful pitchorganizing your team
connecting to your customer or closing a sale,spurring growth?
CHAPTER 1: A STORY THAT SEALS THE DEAL
VCS AND ANGELS DON’T INVEST IN TECHNOLOGY. THEY INVEST IN PEOPLE WHO EXUDE CREATIVE POTENTIAL COMBINED WITH URGENCY TO SOLVE DAUTING PROBLEM. WITH NEW APPROACH.
YOUR PITCH SHOULD DEMONSTRATE BOTH.
REDUCE IDEA TO 4 WORDS OR LESS
EXAMPLE; GOOGLE: ORGANIZES WORLDS INFORMATION
MAKE IT COGENT, ELEGANT
James Buckhouse: https://medium.com/design-story/375bf9674cac
CHAPTER 2: THE WIKI OF YOUR ORGANIZATION
A STORY THAT WORKS AS INTERNAL FULCRUM AND WHICH YOUR TEAM CAN STRESS TEST BUSINESS DECISIONS.
INFORMS YOUR ROLE, TEAM’S ROLE, AND COMPANY’S ROLE
EXAMPLE: PEER TO PEER GREEN POWERFOUR WORD STORY: GREEN POWER FOR EVERYONEDESIGN TEAM: INSTANT INFORMATION, BETTER DECISIONSTEAM MEMBER: BETTER DEMAND, METER ALERTS
MAKE IT CLEAR
James Buckhouse: https://medium.com/design-story/375bf9674cac
CHAPTER 3: STORIES OF YOUR CUSTOMERS
YOU ARE RARELY THE HERO; YOUR CUSTOMER IS
HOW DID YOUR PRODUCT OR BRAND GET USED BY A CUSTOMER TO ATTAIN THEIR GOALS AND TRANSFORM THEIR LIFE
EXAMPLE; JARED (SUBWAY)
MAKE IT FOCUSED ON THE PROTOGANIST
CHAPTER 4: REASON WHY IT IS HUGE
WHY SHOULD WE CARE? WHY SHOULD BE BELIEVE IN GROWTH?
HOW DOES YOUR PRODUCT MAKE PEOPLE’S LIVES BETTER, AND CHANGE THE WORLD IN WHICH WE LIVE?
EXAMPLE: SQUARE
MAKE IT HUMAN-CENTERED AND INSPIRED.
How is using stories important internally – within a company?
How can storytelling play a role in a turnaround?
What elements does a story need to be compelling?
Are stories proven to spur action in consumers?
Shradha Sharma, Founder, YourStory, realized the power of storytelling while interacting with hundreds of small business owners from all across India.
An entrepreneur’s story is always unique and has the power to meaningfully connect with his/her stakeholders. Their stories are filled with grit, passion and perseverance, but more often than not these stories are lost and not captured.
Historically for media the emphasis has been on news rather then capturing the essence of a venture through stories - that realization was the genesis of Shradha’s story with YourStory! Emphasis on the "you" aspect of the story played a key role in the growth of the platform, with “you” it was easier to build a loyal community (as opposed to I and my approach)
Today YourStory is India’s largest storyteller with stories of over 12,000 entrepreneurs captured. Guiding Principle – Stories Stay!
A BUSINESS STORY:
THE
END
Q & A
Tips
STORYTELLINGTIPS
You don’t need to have an exotic story; just one that has most of the components that will be further developed.
INTRO STORY FLOW AUDIENCE AUTHENTICITY FINALE
Make sure your story flows. It doesn’t have to be linear, just clear. Focus on answering the questions on people’s minds. You’ll likely iterate on flow/structure 5 times.
Involve your audience: Provide details they can relate to. It makes the audience feel closer to you.
Be authentic. It shows. Don’t try to pretend something that you’re not. The audience really appreciate this.
Stop the story when you have said enough to keep people interested. Don’t answer all the questions at the beginning. Leave them asking for more.
Adrianna, 2010
Appendix
How to tell a
STORY
HOW TO BUILD A STORY
Begin with a description of a place, circumstance, or premise that everyone understands
Understand the protagonist’s desiresPersonalize the protagonist so the audience feels a personal stake
1Get the audience’s attention fast!
3Focus on the protagonist or character
2Hone in on the obstacles keeping the protagonist from his desires
The people in your story have to want something
Audience compelled to take actionAudience has a personal stake in finding a solution
3 to 5 minutes each
4Know what you want the audience to do
Answer in a few sentences
6Keep stories short
5Ensure the audience knows the point of the story
HOW TO BUILD A STORY
