BRAND EXPERIENCE & STORYTELLING

Submitted by Group 7Prachi Mohan 14P033Rishabh Sood 14P039Srishti Jain 14P050Devang Nahar 14P075Diksha Mahajan 14P077

INTRODUCTION“The best brands are built on great stories”

—Ian Rowden, Chief Marketing Officer, Virgin Group A brand story is more than just content and a narrative of the

brand. The story goes beyond what’s written on a website, the text in a brochure or the presentation used to pitch to customers

The story isn’t just what you tell people it’s also what they believe about you based on the signals your brand sends. The story is a complete picture made up of facts, feelings and interpretations

Each element of business or brand, from the colors and texture of your packaging and business cards, to the staff hired is part of the brand story and every element should reflect the truth about your brand back to your audience

Brand storytelling helps create: A COMPELLING BRAND STORY STRATEGY, BRAND NAMES, PRODUCT NAMES, BOOK TITLES & 

TAGLINES THAT HELP IT STAND OUT FROM THE CROWD UNIQUE MARKETING STRATEGY

NEED GAPS

With so much that storytelling does for the brand and the business it is important to study its impact and what has an impact on it

The overall impact of storytelling on the tangible and intangible aspects of brand value

Brand storytelling might serve as a way to bind the customers to a particular message, and thus increase engagement

The key elements of brand story telling that increase the brand recall

RESEARCH OBJECTIVE AND RELEVANCE

The purpose of this research is to analyze the overall impact of storytelling on the tangible and intangible aspects of brand value. How brand experience and brand value correlate. Also to understand what the impact of brand storytelling and brand experience on the brand’s perceived image.

Research questions: How brand storytelling impacts the perceived

brand image Does brand experience impact brand value –

positively or negatively

HYPOTHESIS

1. Brand storytelling positively impacts the perceived brand image

2. Brand value is positively correlated with brand experience

Survey questionnaire: Survey was used as an instrument of data collection

The sample size taken was - 80 out of which 11 were discarded (MDI students)

DATA COLLECTION

QUESTIONNAIRE

HYPOTHESIS-1 ANALYSIS

Brand storytelling positively impacts the perceived brand image

Rate Apple as a brand (5 being the highest)

Suppose you were ignorant of the history and innovation and general customer loyalty surrounding Apple. How would Apple fare then? (5 being the highest)

APPLE: UNINTENDED STORY TELLING 44.9% people have given Apple the highest

rating as a brand However, when asked to rate Apple, had they

been unaware of its history, innovation & general customer loyalty, only 8.7% still gave Apple the highest rating (only 19.3% retention)

This shows how the history, innovation & awareness of the customer loyalty of Apple as a brand has helped build the Apple brand through unintended story telling

Pick the best campaign from the following:

E COMMERCE: IMPACT OF DIFFERENT TYPES OF BRAND STORYTELLING This question explores the impact of different types of

storytelling for different brands in the same industry (E commerce here)

Flipkart, being an online marketplace, used the element of trust in its marketing communication, as part of its storytelling, to connect with its target audience

In contrast its competing firms, Amazon & Snapdeal, used variety and emotional connect respectively as its focus of brand storytelling

The consumers rated the Flipkart ad campaign to be the best amongst the 3

Brands in the same industry can build their brand image using brand storytelling as part of its marketing communication, the success of which will depend on the connect of each with the customers

Rank the following ads (1 being the best)

DIFFERENT TYPES OF BRAND COMMUNICATION

The last question explores how different kinds of marketing communication, including brand storytelling, mild storytelling, humor, product details & celebrity endorsements impact brand image

Here, the Google ad gets the maximum votes as the best ad campaign, where in the brand used brand storytelling and established an emotional connect with its audience

Yippie & Alpenliebe got the lowest votes as they communicated the core benefits of the brand, without humor or emotional connect with the customers

Recall the little kid in the 'jalebi?' ad (90's ad). Which cooking oil was shown in the ad?

CORRELATION BETWEEN STORYTELLING & BRAND NAME RECALL

This question attempts to explore how brand storytelling could overpower the communication of brand name

Sometimes there might not be a correlation between the richness of the story and recall of the brand name

We used the iconic Jalebi ad to explore this facet of brand storytelling

However 55.1% of the total respondents were able to recall the correct name of the brand, for the other respondents, the storytelling overpowered the brand recall

HYPOTHESIS-2 ANALYSIS

Brand value is positively correlated with brand experience

Apart from the coffee, what is the best thing about Starbucks?

Suppose the option you picked in the above question ceased to exist, how would you rate Starbucks, if you initially rated it 5/5?

STARBUCKS: BRAND EXPERIENCE VALUE

The 1st question, asking people the best thing about Starbucks, apart from the coffee, is just exploratory

The 2nd question shows how the rating changes if the perceived best element of the brand experience is revoked, everything else remaining constant

Only 5.5% of the respondents still rated Starbucks to be the highest even after their most important brand experience element was revoked

This primarily indicates the importance of brand experience to the overall brand perception

CONCLUSION

Brand storytelling positively impacts the perceived brand image Unintended brand story telling can also positively

impact brand image as in the case of Apple Brands in the same industry can build their brand

image using brand storytelling as part of its marketing communication

Brand storytelling that uses an emotional connect better impacts brand image

Brand storytelling can, in some cases and to some extent, overpower brand recall

Brand value is positively correlated with brand experience

RECOMMENDATIONS

Brand storytelling is a powerful tool in creating brand image and should be used by companies to create an emotional connect with the consumers

Brand experience also positively impacts brand value and hence companies should focus on creating an experience around their brand to increase perceived value of the brand

LIMITATIONS

o Small sample set due to paucity of timeo Quantitative methods and statistical tools could be used

for future research by testing with a large sample sizeo Bias could have occurred due to male female ratio

FUTURE SCOPE

Future research can be done by segregating consumers on a demographic and psychographic basis – like region, income etc

Further understanding and impact of digital elements in storytelling

THANK YOU!