Friday, January 20, 2017

Infographic: How Storytelling Is Helping Brands Sell More Products- 

 Detailed stories connect with consumers

This short article from AdWeek that came out earlier this week shows some findings from a study that Origin, the consumer research arm of Hill Holiday, had conducted. Consumers were shown items paired with either standard descriptions or more detailed stories—from user reviews to creator bios, and even fiction. The results were clear-  every time the same exact product had a story attached to it, the customer perceived value was higher. 

There was a picture of a hotel room, with description, size of the room, amenities, and the same description but with a user-review added had 5% more perceived-value. 

They showed a piece of artwork with title, artist name, and year, and the same description but a personal story from the artist which added 10% more perceived-value. 

And they also showed a bottle of wine with standard tasting notes, and the same description but a personal story from the winemaker. In this case, Group B with the winemaker's story was 5% more likely to that bottle, AND pay 6% more for it.

The moral of the story here is that consumers want to relate to what they are buying. Whether they are consciously making that decision or not, a story of some sorts helps pull the consumer in, instead of just a description of the product. 

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