Beliefonomics Brand Storytelling Index: increase market impact x 10
Updated: Aug 18, 2020
"You can expect to increase your Market Impact exponentially by developing a Brand Story – a clear, compelling narrative that taps into your customers’ belief systems and underpins your go-to-market strategies.”
Book excerpt: "Beliefonomics,” Mark Jones ©2020, p234. Buy it here.
The Beliefonomics Brand Storytelling Index© is a method of self-evaluation for organisations (grid pictured below), and it’s where we start every engagement.
The goal is clearly to achieve an Amplified story state where the story is Simple and the Market Impact is high (10x). Most of my clients begin somewhere between Disorganised and Managed. As you can see from the right hand column - headed Next focus - there are certain steps required to move up the ladder.
The Beliefonomics Brand Storytelling Index©
NOTE: I share details in my book about how the Market Impact figures are calculated.
Now, I'll share with you some of the diagnostic questions used by teams in a co-creation workshop setting to help identify their current Story State and Market Impact. Have a go at answering them for yourself:
To what degree do you have a simple, well-defined brand story?
How successfully have you aligned all your sales and marketing resources around a common storytelling vision?
To what degree are you held back by organisational silos or lack of reliable data?
Are you amplifying your brand story across every relevant customer media channel?
Given these factors, what story state on the Beliefonomics Brand Storytelling Index best describes you today?
A brand’s story gains traction with customers, partners and staff who do more than engage with its content – they’re actively sharing it to invite others into the conversation.
It’s important to emphasise the significance of this simple, unified story from an economic and profit perspective.
Brendan Markey-Towler from the Australian Institute for Business and Economics and the School of Economics at the University of Queensland, writes in The Conversation:
Our research shows the more simple a story, the more it extends and agrees with preconceptions, the more persuasive it is. A good story becomes embedded in investors’ minds; the story becomes the expectation. Source: Markey-Towler, B., 2017, ‘How storytelling drives finance and economics’, The Conversation
In my experience, you start to see the impact of a strong, simple story almost immediately after it hits the market. Brand stories develop a life of their own, spreading by word of mouth and through customer advocacy. A good litmus test is whether the mainstream and marketing trade press are writing about, and analysing, your campaign.
BOOK EXCERPT: 'Beliefonomics: Realise the True Value of Your Brand Story', Mark Jones (2020), Chapter 7. Buy it here, ebook or print versions now available.