A CMO's Guide to Brand Storytelling

The power of storytelling

Branded storytelling can have a profound influence on customer’s purchasing behavior through its ability to make emotional connections to a brand’s product or service. As a result, these branded stories have become a necessity for businesses looking to build stronger connections to customers.

As the architect and steward of the brand, CMOs can curate that impactful brand story that connects and resonates with their customers. One of the critical roles of the CMO is to advocate the importance of storytelling within marketing because it:

• Puts the customer at the forefront
• Strengthens the brand’s identity
• Connects purpose to the brand
• Demonstrates how marketing will push the business forward in terms of revenue and growth

The strengths and position that CMOs have as brand storytellers can help them build a unique connection with their consumers, establishing brand loyalty and a competitive edge in the market.
 

The storytelling roles of the CMO

Brand storytelling allows companies to create a narrative around their brand’s values and establish personality. Marketing leaders act as the brand storyteller and should be creating and telling brand stories while inviting customers to participate in narrative experiences. The role of a brand storyteller is to:

Evangelize the brand

A Deloitte analysis found that CMOs who are responsible for company mission, values, and culture are more than two times as likely to affect strategic decision-making, garner support of their C-suite peers, and help guide the direction of the business.

The role of the CMOs is to create clear connections between brand and purpose while building a culture that embraces customer-centricity at its core. As CMOs position themselves as customer experts and understand the customer journey, the most important role marketing leaders can play is to the be voice of the customer, leading storytelling to become a necessity. It connects the factual components of the business to its purpose, differentiating the competition.

Champion the customer

CMOs should consider ways in which they integrate the customer into business dialogue and internal decision-making to deliver more human customer experiences. Fifty-five percent of CMOs report a lack of common understanding of their customer across the enterprise, uniquely positioning CMOs to champion the customer.

The Deloitte Global Millennial Survey found that Millennials and Generation Z consumers are more likely to purchase products that align with their values. Therefore, a brand’s story is increasingly important for consumers, as they are increasingly purpose-driven buyers. The CMO Survey: Special edition report found that marketers predict customers will place the highest priority on trusting relationships. By integrating the customer into the business dialogue, consumers develop a stronger connection to the brand, building trust.

Build and protect the brand

Managing risks associated with customer data privacy and protection, as well as the company’s reputational risk, ensures customers’ continued trust in the brand. Trust in the brand builds customer perceptions of inclusion and belonging, making them more likely to pursue a product. Memorable business storytelling can create this connection.