Business leaders behind retail powerhouse brands Harrods and Inkpact share why stories and conversations will always be the key to brand success.
In fast growth sectors supported by the latest marketing platforms, strategists and £multi-million budgets, the spotlight of Hypergrowth fell on the most human & long standing essentials of brand - storytelling and conversation.
Charlotte Pearce, Founder & CEO of Inkpact, stated
"It doesn't matter what new tech comes in, all brands still need that personal and simple connection with customers."
Focussing in on examples from brands that have made people fall in love with them, such as John Lewis, Patagonia and Lush, Pearce explained where other brands go wrong - by being too serious and forgetting to be human and meaningful. Brands that stop having conversations with their audience, that stop communicating meaningful moments are not just losing ground but creating barriers to customers.
"The future is there for those businesses that mean something, that stand for something, that create conversations."
And the powerhouse behind Harrod's brand strategy, CM&CO Amanda Hill echoed Pearce's sentiments. Discussing the 5 superpowers all marketers need to succeed in the current market, the number one superpower highlighted by Hill was 'storytelling';
"Great brands are, by very definition, great stories. And all great brands have a powerful human story at their heart."
So what does this mean for your business?
Human stories and connections are an obvious opportunity for B2C brands. However it highlights that many still need uncover their story and what their brand stands to create true engagement with their communications.
And what does this mean if you're a B2B business? It is still critical to understand the story at the heart of your brand, the purpose of your business and why you do what you do, beneath the products and services. In fact those B2B businesses that really build their brand around this will find they not only have the competitive edge but also they will achieve much higher ROI from their marketing investments.
Ultimately, for any business looking for growth, it is an important reminder -
no matter the size of your business or marketing budget, understanding the essentials of your brand story could be one of the most important factors to unlocking growth and competitive advantage.
It is certainly a crucial step to take before you invest in marketing tech and campaigns.