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Storytelling - how Credit Unions can create heroes out of customers

Author: Caroline Schmid | Categories: Customer Acquisition, Customer Engagement, Digital Marketing, Content Marketing, Lead Generation

“This is a new era of marketing communications, and I think storytelling will become an increasingly important skill for businesses.”  - Robert Rose, Content Marketing Experience

Content marketing can have a significant impact on your customer experience in the world of credit unions and, thereafter, overall bottom line for marketers in credit union companies. The key is to create what several marketers call, 'content storytelling'.  Storytelling allows marketers to create a story or narrative for the customer that may be different based on their customer personas. One customer may be vanquishing a dragon while the other is saving a damsel in distress - metaphorically speaking of course.

A majority of banks and credit unions highlight only promotional content concentrated towards pricing or value. With this, we get only the last few pages of the story - skipping to the end of the hero’s journey. Hey, the story is over, and I just told you I am the hero. How much faith would you have in me? Would you care?

But if I took you through the fairy tale and empowered you to slay the dragon, be a hero based on self-analysis, wouldn’t that conclusion be a better one? In storytelling, you earn customers' trust throughout their journey, you give them the sword. The hard-fought journey is more valuable to your customers; storytelling can help your credit union build confidence and guide the “hero” through their digital buying journey.

If you can create helpful content that is focused on addressing consumer’s questions and concerns, your credit union would have the ability to connect with customers on an emotional level. Thereby, creating a connection with your company as a financial matters expert and not just another low-priced or great service provider.

Stories work in marketing because science confirms that storytelling is a powerful communication tool and it can cut through the clutter of enormous quantity information in an already overflowing financial marketplace. To get it right, it is critical to understand the elements of a good story.

“James Lush, says stories must contain five elements to make them truly effective.” - Sarah Mitchell

Following are some elements to create an engaging story:

· They should be topical – Is it the right time to tell this story? Is your audience looking for the information now? This is especially true if your content is seasonal or time specific. For example, don’t publish stories about budgeting if your audience is focused on tax time.

·  Relevant – It’s rare to have a ‘one-size-fits-all’ story. Make it pertinent to the audience you’re trying to reach. If you’re marketing to multiple audiences or buyer personas, think about how you can create stories that appeal a specific segment.

· Unusual – If you really want to cut through, come up with a new angle for your stories. This is the reason why fractured fairy tales are so popular – an unexpected twist on the old familiar is always appreciated by the reader.

· Trouble – One thing fiction writers know is there has to be some sort of a conflict to tell the story. Where is the conflict in your story? What makes it interesting?

· Human – No one wants to be friends with your brand. They do, however, get intrigued by the human element surrounding your brand. Put a human face on your stories and you’ll fetch a lot more success.

Content marketing strategy