Marketers today realize that turning a prospect into a customer requires creating a connection through storytelling.
In fact, digitally speaking, there are now many options for brands to help communicate their brand story. From big data to written text to virtual reality, brands have a powerful tool set available to create a set of experiences that will inspire action.
As brands generate more and more data, they begin to tell a data story, and vendors like narrative science help convert data to a story.
Agencies are now using artificial intelligence to help generate ad copy and Facebook - realizing the importance of an immersive story- has invested billions in Oculus .
And, in fact, Amazon’s purchase of Whole Foods and its entrée into physical bookstores is partially driven to extend the buying experience to a physical story-telling touchpoint.
And artificial intelligence is even being used to measure the effectiveness of brand storytelling. Companies like 8-Point Arc have developed models to measure and improve storytelling efforts.
Says Brian Dames, CEO of 8-Point Arc, “Good brand storytelling has long been a somewhat ethereal concept largely owned by Madison Avenue agencies in exchange for millions of dollars. Leveraging AI, we can quantify the presence of storytelling elements and link them types of engagement. So now, all marketers have the opportunity to tell their compelling brand story in a way that is measurable, actionable and affordable.”
The B2B and B2C purchase journey is no longer just a sum of digital likes and impressions. Brand storytelling and AI are transforming the process.
Beverly is the author of the best selling book The Power of Real-Time Social Media Marketing. She also teaches the Business of Media, Entertainment & Sports at UCLA Anderson School of Management and is a thought leader in business strategy, IoT, big data and digital media trends.