Why Storytelling is Your Business Strategy’s Superpower (And How You’re Probably Doing It All Wrong)

Roll credits.

The End….?

By Santeri Viinamäki — Own work, Public Domain, https://commons.wikimedia.org/w/index.php?curid=49885019

Another presentation finished; another strategy meeting done. It’s in the can. Your slide that reads “Any Questions?” might as well have been followed by a soft, suspenseful score, a fade to black, and the promise of a sequel: “Coming Soon.”

What just happened? Did you just reveal a world-altering strategy? Or did you just narrate some random word salad with bar graphs?

…Something I’m at fault of doing myself more often than I’d like to admit.

Let’s cut to the chase. It’s not just what the story is; it’s how you tell it.

The Old Way: Strategies on the Stage of Boredom

Once upon a time, in a boardroom far, far away, strategy was about 7Ps, SWOT, and filling in some McKinsey Matrix like a Sudoku puzzle on a Sunday.

But let’s say you’ve just watched your favourite movie. Think about the plot.

Imagine if George Lucas brought us Star Wars as a bullet list? Sure, the Death Star might still get destroyed, but I’ll bet no one’s buying “Han Solo” action figures #HanShotFirst.

The strategy is the plot, but the storytelling is the magic that makes it real in the minds of your audience.

Remember, a strategy without storytelling is like Netflix without shows. It’s a thing that’s there, but no one’s watching.

The New Order: Unleashing Your Inner Storyteller

The best strategies are built on compelling narratives.

If you have a message to communicate, wrap it up in a story your audience will remember.

That’s Human Psychology 101. People remember stories because they resonate with our primitive, emotional, illogical selves.

Facts tell, but stories sell.

Quick tip: Make your strategy the hero of its own journey.

1. Set the Scene: Establish the market context and the challenges you, your business, or your organisation, is facing. Make it real, tangible.
2. The Quest: What are we trying to achieve? Growth? Market domination? Survival?
3. The Obstacles: Every hero has a dragon to slay. What are yours? Market saturation? Regulatory minefields? Funding priorities?
4. The Climax: This is where you put your ultimate strategy into action. No holds barred.
5. The Resolution: Wrap up your story with a glimpse of the future. And please, by Grabthar’s hammer, make it a happy ending. (That reference brought to you by my constant need to rewatch Galaxy Quest, but forgetting)

Why This Matters: From the Director’s Cut to Box Office Hits

Your stakeholders are your audience. Their investment, their engagement, and ultimately, their applause decide the success of your strategy. Fail to engage them with your story, and you might as well be whispering into a void.

In essence, storytelling is the emotional glue that makes your strategic facts stick.

Write this down: “The strategic leader is, in fact, a storyteller. Someone who understands that change, growth, and problem-solving happen not just through spreadsheets and PowerPoints but through the weaving of compelling narratives that inspire and mobilise a workforce.”

Final Credits

So, here’s your actionable takeaway, wrapped up with a neat little bow: Don’t just have a strategy; tell a strategy. Inscribe it with compelling characters, high stakes, and most of all, make sure it has a beginning, a middle, and an end. Because in this age of endless reboots and prequels, who doesn’t love a good story well-told?

Fade to black. The end. Or is it just the beginning?

Stick around for a post credits scene…

You’re still here

Here comes the twist — your C-suite, Government leaders, board members — they’re not just going to take your word for it. Even in the age of believing in something, these folks want numbers. So, let’s throw some in.

Memorability: Brains Wired for Narrative

According to Jerome Bruner, a cognitive psychologist, we are 22 times more likely to remember a fact when it’s part of a story. Why? Because stories are memorable, easier to understand, and easier to internalise.

SO: Instead of presenting your quarterly review with endless graphs, why not weave the data into a narrative? Numbers can be forgotten, but a compelling story of overcoming market challenges to secure a big win can stay with people for a lifetime.

Emotional Engagement: It’s Science, Not Fiction

The neuroeconomist Paul Zak found that storytelling can produce a powerful cocktail of the neurochemicals cortisol and oxytocin, which heighten focus and promote a sense of connection. What does this mean? Your audience is not just “getting” the strategy; they’re feeling it. That’s how you build commitment.

SO: Your stakeholders are more likely to champion your strategic vision if they feel emotionally connected to it. So, drop the jargon. Speak human.

Persuasion: Your Invisible Sales Force

In a 2017 study by the Journal of Marketing Research, they found that storytelling increases value perception and positively influences consumers’ willingness to pay for a product.

Translated into senior executive talk — that’s a bump in sales, brand equity, and consumer loyalty.

SO: If you want to persuade people, stop pushing features and start pulling heartstrings. It’s not just your product you’re selling; it’s the story behind it.

Long-term Strategy Adoption: Stats Don’t Lie

The B2B sector especially benefits from storytelling. A 2018 case study from Forbes showed that storytelling in presentations can make them 35% more persuasive and 21% more accurate in message recall compared to a strictly factual presentation.

SO: Strategic adoption is a long game. And 35% more persuasion can be the difference between strategy stagnation and your next market breakthrough.

Lessons from the Trenches:

So, you’re still with me? Good. You’re a better reader than me.

Here’s what you can do:

1. Back It Up: Use solid data and examples to back up your narrative. Just because it’s a story doesn’t mean it can’t be factual.
2. Get Personal: Share stories from your experience. Nothing says authenticity like a first-hand account of triumph, disaster, or even an ordinary day at the office that had an extraordinary impact.
3. User-Generated Content: Got happy customers or employees? Let them be your storytellers. Their testimonials can serve as subplots that enrich your main narrative.

“Data gives you the what, but storytelling gives you the so what. Without the latter, your strategy is a ship without a sail, floating aimlessly in an ocean of numbers and pie charts.”

Summing it Up: The Art and ROI of Storytelling in Strategy

It’s time for the grand finale.

Storytelling isn’t just some newfangled way to present your strategy. It’s backed by research, science, and, most importantly, dollars.

In the currency of strategy, stories are the real investment.

Fin.