Once you start out in the B2B sphere, you may get a little confused over certain aspects of it. So, first of all, B2B – short for business to business, is a concept where you are engaging in a form of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business-to-business refers to business that is conducted between companies, rather than between a company and individual consumer. Business-to-business stands in contrast to business-to-consumer (B2C) and business-to-government (B2G) transactions. Therefore, the point is to be as appealing as possible to other businesses. And one of the best and easiest ways to do this is by acknowledging the importance of B2B storytelling.
This is also one of the aspects of selling successfully on the B2B seller market. So, that’s why it would be wise to read through this whole article to understand why you need to pay attention to storytelling. Without further ado, let’s start with disseminating the reasons why B2B storytelling is important!
The power of B2B storytelling:
Storytelling provides an alternate reality. Especially if we are talking about fiction. Meanwhile, nonfiction stories, particularly the successful ones, are read because they motivate and inspire us. People buy into stories because of our inclination to make sense of everything. We use stories to build connections between related concepts through what we have learned and experienced, which in essence means engaging audiences in a way that is both surprising and familiar to them. That is why storytelling is a powerful tool for marketing. But let’s take a look at why it works from a psychological standpoint:
- Form of Communication
- Collaboration and Connection
- Enhances Imagination
- Order and Thinking
Just like with every story, you also want to convey a message with your B2B storytelling.
That said, it’s really good to have someone like Digital Dot New York to help you out with the process of creating a story and telling it to the world. If you want a good story, then that is the place you should go to!
How to Structure a Story?
Good storytelling follows a specific structure:
If you want to convey a story the right way, it has to have certain components to it.
These components are shaped like an arc because a good story must not begin nor end unexpectedly. This makes the audience think in a very specific pattern, which, in turn, makes the story easier to consume. It’s natural for people to make sense of something by relating it to the different aspects of their lives.
Also, by making space in their thoughts for that something, it becomes easier to remember and digest the message. Storytelling doesn’t just explicitly tell a story. It’s made to create waves of conversation and interpretation. It extends itself to be an experience to whoever the consumer may be. Just like social media sites boost your reputation, so does good B2B storytelling.
Phases in B2B Storytelling
Just like with any story, B2B storytelling follows specific components that, if executed properly, allow you to easily attract a luxury crowd. These components are:
- Conflict – Identify their pain points and use them as an inspiration for a compelling B2B story. Present their problems and issues in a creative and attention-grabbing fashion. Make sure that you don’t offend them in the process.
- Climax – After establishing your customer’s conflict, it’s time to match it with the solution that you provide. It’s always a striking moment when you address your customer’s problems. This is where your business becomes the hero in the story by resolving its conflict.
- Resolution – As usual, you must have the perfect ending to the story. Describe how your customer’s life changed after using your product or service. Moreover, feel free to go into detail. Don’t just settle for generic satisfaction. If possible, show numbers and charts to quantify the value of the benefit.
Why is B2B Storytelling Important?
Let’s be real, if you want to be successful in the B2B content market, facts alone can’t do the job. Neither can logic. Or technical processes for that matter. The world has come to realize that it’s about connecting with people on a deeper emotional/psychological level. That is one of the aspects that is very important.
And, according to research by Google in partnership with Motista and CEB, 50% of B2B buyers are more likely to buy if they can connect emotionally with your brand. So, it starts with your business’ goals, objectives, mission, and vision. If a B2B buyer sees that they have a common ground with you, they identify with your brand. Consequently, that creates a sense of trust.
The only way that people in this era are going to be loyal to your brand and like you is if you have a good story that stands behind your name!
Based on the same study, 71% of B2B buyers purchase when they see personal value in your business. Along with that, 68.8% of the B2B buyers surveyed are even willing to pay a higher price to do business with a brand they believe in.
So, now the question becomes “what is personal value in B2B marketing?” Simply said, it represents the professional, social, and emotional benefits you experience in addition to the actual product.
So, emotions elevate customer satisfaction and customer experience. Studies also show that the honesty of the vendor plays a big part at 93%. Moreover, personal recommendations also drive purchase action at 91%. And that brings us to the last part of this article…
How can you Benefit from Good Storytelling?
Even though the emotions expressed are not explicit such as happiness or sadness, they are deeply rooted emotions that are powerful enough to influence decision making. At the end of the day, purchasing is quite a risk. You still need to trust the seller that they are not taking advantage of you.
Moreover, positive emotions increase a customer’s loyalty, improving the chances of them becoming brand advocates. And that is only one of the ways to increase brand loyalty. In an age where customer loyalty is everything, businesses need to take every chance they get. So, don’t underestimate the power of a good story!