Master the art of Product Storytelling
Most of the early digital native retailers that used paid advertising for unicorn valuations like caspar and Warby Parker are now struggling to grow amid recent privacy updates. Retailers who relied on earned media for traffic, on the other hand, are riding those headwinds in their stride.
Pioneering online watch retailer Hodinkee is a perfect example. Founded in 2008, Hodinkee ran no paid advertising for the first decade of its life and only hired its first marketing manager in 2021.
Instead, Hodinkee has built a loyal community by focusing on product storytelling, from their influential blog that generates 3.6 million views per month, to their richly detailed product pages that cement the sale. In doing so, they steadily grew to over $100 million in revenue.
The reason product storytelling is so powerful is simple: stories are how we humans create meaning and change behaviors, including buying behaviors. According a Stanford study stories are remembered up to 22 times more than facts alone. In another studystorytelling has been proven to double donations to a well-known children’s charity.
All this to say that if you’re not using the power of storytelling, you’re not changing mindsets or building community. And you leave money on the table.
What is product storytelling?
Product storytelling takes customers on the journey of how and why you created your product, and how it solves their problems. It also connects your products to themes and attitudes that they care deeply about.
A perfect example is the rise of Lululemon. In the early 2000s, when Nike and the rest of the sports industry peddled stories of competition, dominance and victory, Lululemon offered a vision of athletics as a path to health and self-improvement.
Were Lululemon’s products better than Nike’s? Questionable. Were their stories of self-improvement a welcome relief to millions of clients tired of the “winning takes care of everything” narrative that dominated sports at the time? Without a doubt.
What are the advantages ?
Different stories solve different problems at different points in the customer journey. Here’s a quick look at three ways product storytelling can improve your bottom line.
Attracts customers to your website
Customers rarely search for products. They look for solutions to problems. By constantly sharing stories about how your products solve customer problems on your blogs, category pages, and PDPs, you’ll rank higher in search results and drive more traffic to your website. KEEN Footwear, for example, saw a 524% increase in organic traffic of their blog in just six months by creating stories about how their products fit into the lives of their customers: young working families.
Create a community
Product storytelling provides the most complete picture of the product your customers are about to buy. In a study by market research firm Origin, researchers found that consumers were 5% more likely to purchase from the product page featuring the winemaker’s story, and were willing to pay 6% more for the same bottle of wine.
What are the challenges?
Understanding how your products solve the challenges in your customers’ lives is one thing. Communicating this consistently, accurately, and impactfully everywhere your customers shop is a much tougher challenge.
That’s why we created Talkoot. Talkoot helps the world’s most loved brands create deeper, more valuable connections with customers everywhere they shop through more powerful product storytelling. To see how Talkoot can do the same for your brand, contact one of our advisors.
Talkoot is the world’s most flexible smart PIM, helping consumer-obsessed brands bring their product information to life.
Talkoot powers product storytelling for some of the world’s most beloved brands like adidas, Burton, Rossignol, POC, Reebok and more.
An easy-to-use system to control your brand voice, happy content teams, and updated product pages, with the only AI writer built for e-commerce.
Looking for faster, more consistent branded content production? Talk to us on how Talkoot can turn all your copies and product assets into customer love.