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Storytelling vs. Storydoing™ Taking storytelling to the next level Rosemarie Ryan, Co-Founder & Co-CEO, co: Visit http://www.4astransformation.com for more information.
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© 2013 co:collective llc 1
STORY DOING
Building your story into your business
© 2013 co:collective llc 2
What’s different today?
Scarce
AbundantAudiencesResource
sTime
ScarceBrands
ChannelsSpecialist
s
Abundant
© 2013 co:collective llc 3
In just the last decade
PerceptionsBrand quality -24%Brand loyalty -31%Brand trust -50%Differentiation -90%
BrandsGrowth in number 4x
ChannelsGrowth in number 100x +
Products250K every year
© 2013 co:collective llc
80% of CEOs believetheir productsare differentiated.8% of customers agree with them.
Source: Bain & Company
© 2011 co:collective llc
© 2013 co:collective llc 5
Sources: Nielsen, Young & Rubicam Brand Asset Valuator, Weber Shandwick Planning
New game, new rules
Recommendationsdrive performance more than communications
…and recommendations are based on great product experiences
90% of people trustfriends’ recommendations75% trust anonymousreviews on the Internet50% trust ads
70% of recommendations are driven by product experiences2% are driven by ads
81% Blogs 81% Pinterest73% Twitter 67% Facebook
© 2013 co:collective llc 6
A fundamentally different approach is needed
Peopleare nowthe medium
It’s aboutdoing,not saying
© 2013 co:collective llc
Old world: storytelling
Marketingdepartment
engaged
Engineeringengaged
Media purchased
Digitalagency
engaged
UIdesigned
Product researchbegins
Product planningbegins
Product named
Media agencyalerted
Story defined
Social media strategy
formulated
Finger pointingbegins
Growth opportunityidentified
Launch!
© 2013 co:collective llc
New world: storydoing
Story
© 2013 co:collective llc
A companywithout a storyis a companywithout a strategy.Ben Horowitz
9
© 2013 co:collective llc
© 2013 co:collective llc
Storytelling Sears JC Penney Dillard’s Saks Macy’s
Time Warner News Corporation ViacomComcast CBS
Dunkin Brand Groups Wendy’s Company Burger King Panera Cosi
JP Morgan & Chase Mastercard DiscoverFidelity Visa
Panasonic Samsung ToshibaSony Dell
American Airlines United Continental US Airways Skywest Delta
Hewlett-Packard Cisco OracleSAP CSC
Storydoing Target
Walt Disney
Starbucks
American Express
Apple
Jet Blue
IBM
© 2013 co:collective llc
Less spent on paid media
Media spent as % of annual revenue
* Does not include Cisco, HP, Sony, Dillard’s
Storydoing
Storytelling
Storytelling companies spend nearly 3x more on media as a percent of revenue than Storydoing companies
Source: Company annual reports, Magnum media spend data Co:collective analysis
2007 2008 2009 2010 20110.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
1.4%
3.9%
1.1%
3.4%
1.0%
2.8%
1.2%
2.9%
1.0%
2.7%
© 2013 co:collective llc
More social awareness
Number of social media mentions 2008-2011
(millions)
Storydoing companies are mentioned much more in social media conversations
2008 2009 2010 20110
5
10
15
20
25
30
35
40
45
50
0.32.8
0.8
9.9
1.9
27.6
2.2
44.0
Source: Radian6, Co:collective analysis
Storydoing
Storytelling
© 2013 co:collective llc
Better financial performance
Operating income growth rate(2007-2011)
Storydoing companies outperform storytelling companies in topline sales…
Revenue growth rate(2007-2011)
* Due to negative operating income in 2007 or 2011, we had to calculate 3-yr CAGR for Sears, JCPenney, Dillard’s, Visa, and American Airlines
And in finding better ways to reduce costs and optimize assets
Storytelling Storydoing0%
2%
4%
6%
8%
10%
12%
Source: company annual reports, co:collective analysis
Storytelling Storydoing0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
v v
© 2013 co:collective llc
Higher valuations Stock price
CAGR(2007-2011)
Storydoing stock price growth demonstrates the value created through their actions
Source: Google Finance, Co:collective analysis
Storytelling Storydoing-6%
-4%
-2%
0%
2%
4%
6%
8%
Storydoing
Storytelling
v
© 2013 co:collective llc 16
© 2013 co:collective llc 17
Thanks!