Story-driven companies -- Target, Walt Disney, Starbucks, American Express, IBM -- are achieving better financial success than their competitors.
I'm amending my review here based on new information that the author of this article, Ty Montague, has been sharing in the many comments he is receiving to his blog post. My edits are in italics and bold.
Well, here is an interesting article that is focused on several issues:
- Are companies using storytelling as a mere tool to gain market share or as a core competence imbedded in their DNA?
- Can storytelling results be measured?
- What difference does storytelling make in business?
I applaud all three! It means we are maturing as a field.
Regarding #1, the author (Ty Montague) narrowly distinguishes between storytellers and storydoers, defining storydoers as those companies that "emphasize the creation of compelling and useful experiences — new products, new services, and new tools that advance their narrative..."
Hmmm -- that still frames storytelling as market output and leaves out leadership, culture, customer and staff engagement, knowledge transfer, etc. So in the end, he is still talking about different kinds of marketing: story that is messaging (telling) and story that is tied to both marketing and product development (doing).
Actually, Ty and his co-horts do name corporate integration of storytelling into other areas of business activity as one of their criteria. They struggled with how to find out of a company was actually walking their talk, or just using stories in their marketing. If you read the comments below the blog post you will gain additional insights into this issue and what they tried to do.
But it's a start and a valuable distinction! But we need to go further in the 'walk your talk' kind of authentic storytelling we are looking for to include the pieces he left out.
And I'll be picky again -- no company has one story as is mentioned here. It's a network of stories instead, which creates a story field that staff and customers interact with. How you think about story will frame the results you get.
The stats are pretty interesting. The author used social media shares, business growth rate, and financial share price to see if storydoing companies fared better than storytelling companies. I'll let you see the results for yourself!
The only other sentence that gave me pause in the article were the several references to "lighting up the medium of people." Are people a medium now? I thought we were just people. Set me straight if I read this wrong and don't understand!
Despite my nit-picks, this is a really great article because of the author's attempts to make distinctions, measure, and evaluate. And the results are exciting. We need more like it!
This review was written by Karen Dietz for her curated content on business storytelling atwww.scoop.it/t/just-story-it