3. Have a Strong Brand Story
Storytelling is a skill that can increase customer loyalty, provide brand recognition, and boost profits. The reasoning behind this is simple – people remember stories.
Any successful brand story shares a few common elements.
Start With A Problem
The problem should be the starting point of your brand’s story. Usually, this involves explaining how your company discovered a particular gap in the market and then took steps to fill it.
For example, Shopify is a platform that allows regular people to set up their own eCommerce stores with no technical knowledge.
Shopify was created because its founders were looking for an eCommerce shopping cart solution when setting up an online store to sell snowboarding supplies. They couldn’t find one, so they decided to create their own.
Today, Shopify is worth billions of dollars – all because they created a solution for a single problem!
Embrace The Underdog Status
After outlining the problem, most businesses start out as an underdog. They’re a small fish in a very large pond.
Here’s the thing – everyone loves an underdog.
That’s why it’s important to share the struggles you encountered when trying to build a successful business. Doing so will create a sense of authenticity within your message. Millennials like to see personal characteristics in the companies they do business with. If you show that you’ve overcome real challenges through sheer grit and determination, you’ll win their respect and attention.
Add an Element of Social Good
Do you make it a priority to give back to the local community? Do you have environmental initiatives in place for your business? If so, it’s important that you share these things with your customers.
Social change is one of the largest influences on millennial purchase decisions. If you can prove that your business helps facilitate social change, millennials will choose you over competitors.
A Concluding Explanation
Finally, you need to tie all of the points mentioned above together in a way that tells customers why you’re the best choice. Why do your failures and successes make your company worth their time and money?
Don’t forget, a quality product is still important but if you have a compelling brand story, it makes it much easier to sell. Social responsibility is one of the most important buying factors for millennials. If they like what your company stands for, they might even overlook small imperfections in your business to show their support.