In Dan Ariely’s book, Predictably Irrational, he describes his research that led to this conclusion: despite their protestations to the contrary, human beings make decisions based on emtion, then justify those decisions by developing a rationale after the fact. This process held true in a wide range of case studies that Ariely conducted involving insignificant decisions, such as choosing a beer or a dinner entree when out with friends, to more significant choices, such as buying a new car or selecting from an offering of business tools.
His findings are confirmed in a study conducted by the Corporate Executive Board in partnership with Google. Based on a survey of more than 3,000 B2B buyers, as well as 70 marketers and 15 academics, thought leaders and consultants in different industries, the research revealed that the power of brands’ “unique selling propositions” has greatly dimished. Instead, the ability to connect with customers through personal values makes all the difference in a company’s ability to grow and prosper.
In the summary statement reporting the results of the survey, the CEB and Google point out that 1) “only 14% of B2B buyers see a valuable difference between brands’ business value”, and 2) personal value will provide 2x as much impact as business value will on a B2B purchase. In other words, connecting on a personal level enables a company to cut through the increasingly cluttered marketplace. To learn more of the data and the compelling reasons to emphasize emotion rather than features and benefits in your marketing, download the complete survey report, “From Promotion to Emotion.”
The bottom line is, as more and more businesses realize the necessity to connect emotionally with their customers, the use of values-based stories in marketing and sales will grow even more dramatically than it has in the past 10 years. As I’ve been teaching Corporate Storytelling clients for the past 21 years, stories are far more powerful than most people–and especially business leaders–realize. Among the many reasons are that they help us make sense of the world, they illuminate values, and they help people remember essential information, which sometimes means the difference between destruction and survival. Stories have always fulfilled a multitude of purposes. They do so by touching people’s hearts.