How can a business story be used to generate sales and revenue?
Business stories are used to build awareness, credibility and trust to lubricate the process of buying. Stories ease that process so that it is not dry and jarring or clunky.
What do I mean by level of readiness of the customer?
Am sure you are familiar with the sales funnel. Ideally, you should choose a story that is suitable for your prospect ie his or her level of readiness.
For a prospect that has already had enough awareness, an awareness story like magnetic story is not ideal. Further down the funnel, it is better to share either a mission mayhem or mastery story.
What do I mean by quality and type of the story?
Neurological studies show that we make decisions emotionally. Thus, stories that have emotional undercurrents are more effective at getting the prospects to make a purchase decision.
Magnetic stories are designed to create curiosity. They use facts and figures as social currency or bait to magnetize prospects . This generates tension (suspension) and draws the prospects in.
Mission stories tend to focus on the “why.” Why are you in this business? Also called the igniting incident. It also clarifies your purpose. When your why is strong your brand is high.
A mayhem story is aimed at boosting trust. It shows how you ‘ve overcome adversity. Not only does it humanize you, it also strengthens your bonding and trust with the potential client.
A mastery story based on the the past and the future. It shows the blind-spots and bright-spots in way that engages the prospects emotionally to commit. It is typically very up-lifting. It is ideal for closing.