The power of stories in business

You are probably suffering from a modern affliction right now and you're not even aware of it. In our social media-saturated world, "main character syndrome" is so pervasive it's practically invisible. It's an updated version of what behavioral economists call the "spotlight effect," our human tendency to imagine others are focused on us far more than they really are. Through platforms like YouTube, Instagram and TikTok, a common bias has transformed into a constant performance. People have become the stars of their own carefully curated stories, where mundane setbacks transform into great tragedies and minor achievements become legendary feats. But for marketers, falling into the trap of acting the protagonist in your content can have serious implications for your company's bottom line.

Being self-serving serves no one

If your marketing efforts are too self-centered, main character syndrome can easily become what's known in psychology as the "self-serving bias." In business, that's when an organization views situations and makes decisions based on its own story, achievements and interests rather than its customers' needs. Remember Kodak? It's a cautionary tale of the self-serving bias in action. Despite inventing the first digital camera back in 1975, the brand was so invested in its identity as a film company, it missed out on the ensuing trend that would eventually take it from a market cap of $31 billion in 1997 to bankruptcy just 15 years later. Today, it's worth 98% less than it was in its heyday. You might say, by looking at its business through its own lens, Kodak took itself out of the picture. Leadership's fatal mistake was that they believed the company sold film. However, if they'd asked customers, they would have heard a different story. For its user base at the time, Kodak was in the memory-making business. In retrospect, that sounds like a great idea for a nurture campaign.

Think like a trusted friend

Today, prospects and customers are so invested in their own stories, they don't want to hear how great your product or services are... at least not from you. The data is revealing: 91% of consumers rely on user reviews before making a purchase, and 84% of them trust user reviews as much as a personal recommendation. Traditional advertising? It sways just 14% of consumers. This disconnect between brand messaging and audience trust isn't new. The early 20th Century German-Jewish philosopher, Walter Benjamin, observed that in great storytelling, "the psychological connection... is not forced on the reader." Instead, he said, it is left up to the reader "to interpret things the way he understands them." In laymen's terms, a well-told story's meaning belongs not to the author, but to the audience. So how do you use storytelling to turn a prospect into a customer and a customer into a brand advocate? As a marketer, the customer should be the hero of your content. A well-told narrative has the power to captivate, connect and convert.

The world’s best brands do it

You can probably think of at least a couple of brands that have perfected the art of letting their customers define them. Apple comes immediately to mind. The company created elegant, easy-to-use products that were a far cry from the terminally frustrating personal computers of the era. The brand encouraged people to "think different." And when consumers took that advice to heart, the company became part of their identity. Apple has since earned a cult-like following and, with a market cap of more than $3 trillion, reigns as the world's largest company by valuation. Nike is another brand that has let its customers define it to great success. "Just do it." Do what? That's left to the imagination. More recently, lackluster game-maker Tiny Speck developed an internal tool for its coders to communicate. It became so popular with users — and then consumers — when the company's main product, a game called Glitch, failed to take off, Slack became its main product. What started as word-of-mouth became a strategy of embracing customer feedback such that the company's tagline became "Where work happens." What's work? Who cares? The company went from zero to a $27.7 billion acquisition by Salesforce in under a decade.

Letting go

Too often, companies become so invested in their own stories they miss the big picture. The road to prosperity is littered with the remains of Blockbusters, Blackberrys and Myspaces; all companies that thought they knew what their customers wanted more than their customers did. Blockbuster passed on a chance to purchase nascent Netflix for $50 million because it believed people preferred an in-store experience. Blackberry failed to give up its keyboard for a touchscreen because it was convinced businesspeople wouldn’t go for it. And poor Myspace became a free-for-all of aesthetic chaos because it thought its users wanted endless choice when all they really wanted was to connect with friends. Had executives at any of those companies set aside their own egos and listened to what their users had to say, it might be Blockbuster and chill, Blackberry changes everything and Tom, rather than Mark, might be building a global community (and a multi-billion-dollar fortune) today.

Getting out of your own way

Recognizing the self-serving bias is the first step toward changing the narrative. Putting the customer first in your content marketing can transform your business and elevate your brand above the competition. Unfortunately, thanks to the blindness surrounding our own main character syndrome, it's not always easy to get out of our own way. Here's how to begin:

• Listen to the voice(s) outside your head. Solicit feedback from customers, pay attention to online conversations and have candid conversations with your vendors and employees. Themes may emerge that you hadn't even thought of. Give the customer the credit they deserve. Often, the smartest people in the room aren't in the room at all.

  
  

• Make it easy (and memorable). Messaging should be simple for people to wrap their heads around. You may have the most complex product in the world, but it will never sell if you need to explain it over and over in your marketing content. Remember, you don't have to do the heavy lifting — that's up to the imagination of the audience. Make memories, not film.

  
  

• Be consistent. Once you've landed on a brand voice and style that's working (data!), stick with it. This is how to keep reinforcing the memorable part above. Are you a trusted mentor? A funny friend? A reassuring shoulder? The customer decides what you say, you choose how to say it.

  
  

• Be willing to pivot. Change is inevitable. When the time comes — and it will — be open to a new approach. In addition to making sure your marketing is memorable, there's an advantage to keeping it vague. Don't pigeonhole customers by telling them who you are. Nokia is calling from the past and it needs you to hear this.

The stories that resonate most aren't the ones we tell about ourselves, but the ones our customers tell about us. By stepping out of the spotlight and empowering customers to become the heroes of your brand narrative, you create something far more valuable than content — you create connection. In today's crowded marketplace, that authentic connection is what transforms casual customers into passionate brand advocates who will tell your story far better than you ever could. The most successful companies understand this fundamental truth: your brand isn't what you say it is — it's what they say it is.