3 Ways Stories Can Increase Your Perceived Value
I have a biscuit problem. Savory or sweet—I’ll dip those suckers in anything. My gateway drug was Pillsbury Grands. Then Whole Foods graduated me to the organic version (Immaculate Baking’s Flaky Biscuits). It wasn’t my fault—they looked pretty in the refrigerated section. Then recently, as Covid slimmed shelves of my regular go-to’s, I was forced to do another brand switch, and found this cool box filled with 4 doughy biscuits in the frozen section. Mason Dixie was the brand. The packaging was pretty and looked authentically southern, the branding going after a boutique, handmade feel. And they got me. I bought 4 boxes, and I’m not going back.
The story they told with their packaging was small batch and authentic. Their colors were catchy. Their price was inflated. And the messaging was specific and bold. Are they made with better ingredients than Immaculate’s or Grands? Maybe, maybe not. But my perception of that adorable box persuaded me to think that these biscuits were different, homemade, and higher quality. They looked like they should taste better—so they did.
This is an example of increased perceived value of a brand.
Your story, my friend, is part of your perceived value as a person, as a brand, and as a company. But how can you use your story to increase your perceived value? How can you use your journey that got you here to persuade people to think you are better than your competition?
Here are 3 ways that a well-crafted story can elevate you and your brand’s perceived value. These tips will help you build a premium brand. When people perceive you as premium, you are premium, and, in turn, doors will open. Increasing your perceived value means you can create higher quality partnerships, land better clients, and gain broader visibility. You ready? Let’s dive in!
3 Ways To Use Stories To Increase Your Brand’s Perceived Value
First, what is perceived value? It is what your customer, or audience, believes your product or service is worth to them. As Gustave Flaubert says, “There is no truth. There is only perception.” So, people’s perception of something is the same thing as their reality—it is subjective, and it is real. In other words, what they think of you, is what you are, making perception the key to creating a premium brand.
Tip #1 | Use stories as persuasion—the good kind.
Persuasion is about understanding who your customer wants to become, and how they want to be perceived. Do they want to feel successful, daring, bold? Do they want to feel sophisticated, fancy, or holding similar stature to their heroes? It becomes your job, then, to use your stories to make them feel that way.
Blair Warren, author of The One Sentence Persuasion Course, says: “People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions, and help them throw rocks at their enemies.” The key, then, is to tell stories that encourage people to believe you helped them accomplish one of those five things—making you invaluable.
Tip #2 | Use testimonials as social proof
Most testimonials only tell a portion of a profound story—you just don’t have room typically. But, what they can do is provide a layer of social proof that allows other people to see themselves in that same situation, and see how their lives could be dramatically improved. According to Bright Local, an average of 85% of people trust online reviews as much as recommendations from friends and family. Why? Because people believe testimonials are a reflection of correct behavior, so they trust them to make informed decisions.
What testimonials should you aim for? Specificity wins here. You’re looking for a customer to show how you helped them achieve a transformation or made their lives better in some way by telling a specific story highlighting the inflection point. What was that key moment for them? What changed for them after using your product or service? When people are able to witness the transformation of others, they’ll see you as the catalyst—as a highly valuable asset in that transformation, increasing your perceived value.
Tip #3 | Show the chasm between what is, and what could be
As a business owner, you are responsible for architecting a specific dream for your customer—one they can relate to and aspire to in the future. The best way to do this is by sharing stories showcasing not only the dream, but also the chasm between what is (their reality) and what could be (their idealized future reality). The chasm is the risk of someone NOT buying your product or service. By sharing the details of the chasm, people will perceive you and your product as necessary to their happiness, success, or fulfillment of their dream.
Once that shift happens, they will be incentivized to take action—be it signing up for your email list, following you on social, or purchasing your product or service—because they see the alternative as detrimental to them living their best life.
Ok! That was a lesson in human behavior, persuasion tactics (for good!), and how to use testimonials and risk aversion to dramatically increase the perceived value of your brand. Use these tips, tell us how they work, share on social, or send us your questions! Got it? Great!
