"In my new book, True Story: How to Combine Story and Action to Transform Your Business [Ty Montague], I call these new companies storydoing companies because they advance their narrative through action, not communication. Storydoing companies — Red Bull, TOMS shoes, Warby Parker, and Tory Burch, for example — emphasize the creation of compelling and useful experiences — new products, new services, and new tools that advance their narrative by lighting up the medium of people. What I mean by this is that when people encounter a storydoing company they often want to tell all their friends about it. Storydoing companies create fierce loyalty and evangelism in their customers. Their stories are told primarily via word of mouth, and are amplified by social media tools.
So how do you know a storydoing company when you see one? These are the primary characteristics:
- They have a story
- The story is about a larger ambition to make the world or people's lives better
- The story is understood and cared about by senior leadership outside of marketing
- That story is being used to drive tangible action throughout the company: product development, HR policies, compensation, etc.
- These actions add back up to a cohesive whole
- Customers and partners are motivated to engage with the story and are actively using it to advance their own stories"
Read the full article to see research results on the difference between storytelling and storydoing companies.