Companies need a narrative to keep their audience interested. A narrative is different from a story, which has a beginning, middle and ends whereas a narrative is ongoing, open-ended. A narrative is a call to action and depends on the actions of those involved.
A narrative should be about the customer and not the company. It requires a deep understanding of the customer, their needs, opportunities that excite them, their pain points, the way the company can help overcome the obstacles.
Today the customers have a wide variety of choices and more demanding. They can exercise wide options, replace vendors immediatelTrust is vital in doing a transaction with a customer. Trust is eroding fast and people are often tuned into how companies boost their revenues at the expense of their customers and environment. This is partly due to increased competition, mounting performance pressure and focus on internal efficiency.
However, in this dynamic scenario, there is a powerful opportunity to differentiate and stand apart. Customers would be attracted to companies that have a compelling narrative that is based on a deep understanding of customer needs. With such actions, companies can build trust with their customers over the long haul.
These narratives can also inspire other companies that can help customers. Today fear has become a dominant factor. Increased competition, accelerating uncertainties, employee activism, employee fears of losing jobs to robots, and events that disrupt all well-laid plans. This fear cripples action. We have to seek ways of moving beyond fear and take action and make a meaningful impact. Narratives can help in moving beyond fear and keep the team together.
How to start?
Narratives have a deep impact if is authentic and hence do not leave it to the marketing or PR team to ce=reate narratives. Top leadership should take up the initiative of creating the narrative and develop an understanding of the needs of the customers. Employees should understand the narrative and how it impacts their day-to-day work and besides helping customers fulfilling their needs and overcoming obstacles they may face.
Explore beyond the product offered. Explore the broader needs of the customer and what their unmet needs or aspirations are. Connect this with the companies needs and priorities, how it can excite and inspire the team.
Find stories of people who may have achieved similar obstacles and put together a powerful narrative that speaks to customers,
To create more value it is necessary to widen the horizon. Examine the unmet needs of the customer and develop solutions that will inspire them. When done properly it would help the company focus on a larger objective, overcome fears and uncertainties and focus on the opportunities to serve better.
Every Company Needs a Narrative
by John Hagel III HBR 2021/05
R2G 