Having a corporate story is a good way to communicate the key aspects of your business, create an identity for your business and gain “mindshare” from your target customer base.
Since the beginning of time, stories have been used to communicate important messages - and they still have a valuable part to play in the digital age as companies strive to create competitive space and differentiation.
So, What Can Your Company Do for Me?
Over the years, I have recorded a number of positioning statements and sales messages that caught my eye. They are not all from companies within the software tech sector but the points are the same and they serve as good examples, nonetheless.
There was one I came across a few years ago and which I included in a blog post (Clarity of Thinking and Simplicity of Communication) that I feel I need to repeat as it always makes me smile and scratch my head. (Company name changed for obvious reasons J)
"Confused Software Solutions provides software and services for retail and distribution businesses that help them deliver measurable, multi-channel revenue growth by helping businesses implement a step-by-step roadmap to becoming a fully integrated, efficient, omni-channel business through implementation of our integrated back office, retail and eCommerce solutions."
I recently found this little gem on Twitter. They probably offer a great service but I have no idea what it is:
“Clients turn to Totally Lost Associates to capitalize on opportunities and mitigate the challenges of an uncertain future”
As the two examples above illustrate, clear communication is critical. I am certain the authors of these two pieces of prose knew exactly what they meant; it’s just the rest of the world that has difficulty deciphering the meaning!
What is your Corporate Story?
Many businesses, both large and small, find it difficult to articulate the fundamental aspects of their company - the products or services they offer and their organisation’s predominant purpose. Management teams and employees will also often describe their work and the business they work for in entirely different ways.
Lack of a clear and cohesive, corporate narrative can create confusion for clients, investors, colleagues, employees and potential acquirers of the business, who will be exposed to a variety of inconsistent stories; this can reduce confidence, affect reputation, investor sentiment, operational performance and ultimately, diminish the value of the company.
A Single Voice to Unite Disparate Audiences
Creating a corporate story is essential for aspiring and successful businesses. It ensures that all parts of any organisation are speaking with one voice. Long before the written word became the established norm, story-telling was used to convey information. Stories were shared verbally and passed down through the generations in every culture throughout the world as a means of entertainment, education, cultural preservation and to instil moral values.
In the corporate world, a company narrative can unite disparate audiences, creating an identity and brand that is remembered, rather than an instantly forgettable, dislocated list of facts.
The company story - or narrative - should clearly state the purpose of a business, articulate its winning proposition and engender coherence across all communications. Importantly, the narrative is the foundation of successful marketing activity as it is delivered through campaigns and across multiple channels - both internally and externally.
Finding the Clear Competitive Space to Occupy
All businesses exist in a competitive environment where there is a near constant clamour for attention, customers and positive investor sentiment.
Boss Equity is continually scanning the software technology sector to fully comprehend how competitor companies in your space are communicating; we analyse their strengths and weaknesses as well as the opportunities for our clients' businesses.
It’s surprising - or maybe not - that so many companies don’t give this area of their business much consideration. If you follow the industry norm like a sheep you will not differentiate your organisation from the competition. Such an approach will also hamper your sales force because it will not be obvious why a company should choose your services/products over those of your competitors. To remedy this situation, it is essential you know your customers well but also, that you communicate your understanding as clearly as possible.
