How Stories Add Value | Increase Your Brand’s Value through Storytelling with Emotional Deltas
How can you increase the value of your brand?
I have one simple answer for you: use stories.
But before we get into the mechanics of how that works, we’ve got to get down to the basics and answer this question: What is value?
What is Value? | When Something Feels Correct
What does it mean when we say something has value?
Where did that value come from? And who says that counts as being valuable?
Although some people have gotten upset at me about this before, I continue to stand by my position: I believe value is essentially made up. It’s incredibly subjective.
Some argue that value is objective and intrinsic.
You could say that goalposts or benchmarks are set up to define value. Which raises another question: Who puts them up? How do you know the goalposts are even set up at appropriate points?
Which leads us back to this: value is subjective.
Before we get into a real argument here, let’s consult with Merriam-Webster.
When you look up the definition of value in the dictionary, you will find the following:
The monetary worth of something
A fair return in goods/money for something exchanged
Relative worth, utility or importance
Something intrinsically valuable or desirable
A numerical quantity that is assigned or determined through calculation
The presence of “intrinsically” and “calculation” could lead to the idea that value is objective, but I’m still stuck with these same questions: Who is setting the goalposts that measure intrinsic value? Who is creating the calculations? Who is establishing a baseline for comparison?
So many questions! Before this derails into a philosophy class, let me explain my theory on the origin of value:
Value in and of itself is emotional. It’s when something feels correct. It’s when we’ve determined it has worth.
To better understand my position, let’s look at something as practical as a shovel. A shovel does have a valuable design. It’s a tool designed to put a wedge through a piece of material then scoop that material up and move it. That’s valuable so long as it serves this function. The need for a shovel arose from a previous pain point. At some point in time, shovels did not exist, but people wanted to dig holes. Clearly using bare hands or a stick just didn’t cut it, but a shovel solved this problem because the design allowed scooping. Its design was better than any of the alternatives.
This doesn’t mean there weren’t other alternatives; they simply hadn’t been encountered yet. So, by comparing the shovel to other primitive tools, the shovel is clearly the winner. The shovel removes the emotional frustration of digging dirt the best, so it establishes a baseline for comparison.
That feeling of overcoming frustration gave the shovel value...which means value is something that is felt. We give value to something when it solves a problem we’re experiencing. The degree of value is based upon how great the struggle is and how deep that pain point goes. How well a solution removes this pain and struggle is precisely how valuable the solution is to us. If the solution goes above and beyond, to where it not only removes the struggle but also delights you - well then you have something that is extremely valuable.
To say this another way:
Value is established through struggle and pain problems. It is attributed to solutions that remove that struggle and pain.
Measuring Value: Understanding the Emotional Delta
We start to determine something’s value by establishing an emotional delta. Take a look at the diagram below. When evaluating a solution, there is a difference between how frustrated you are versus the level of delight the solution provides for your frustration. This gap, or emotional delta, determines the worth of a solution or its value.
The Measurement of Value: Establishing an Emotional Delta Copyright © 2021 McNabb Storytelling LLC.
Emotional deltas are created through facing problems. The problems we encounter in life are not all practical. Especially in the US and developed countries, the majority of our problems aren’t actually practical (i.e. physical needs) because those are easily solved in an industrialized society. The majority of our problems are actually of an emotional, psychological, and identity-driven/philosophical nature. They are the big crises we face in a society where the majority of our physical needs are already met. Since we don’t truly have a want for anything, we focus on internal problems.
Think about how Apple computers are designed not just to solve the problem of needing a computer; they’re designed to reinforce your identity. They solidify how you see yourself as a professional creative. If you consider yourself a professional designer, videographer, or marketer, then getting an Apple computer will drive that home. That’s the value Apple is providing. It’s not just making sure you can do your work, it’s reinforcing the story you’re telling yourself.
Using stories to create emotional deltas and give value is not just a theory; it’s proven through research. One of the most famous experiments is called Significant Objects and was conducted by Rob Walker and Joshua Glenn. Here’s a quick summary of it:
The researchers purchased “random junk” on eBay. They paid $128.74 for all the objects. There was nothing particularly special about the objects.
They relisted all the objects on eBay with one difference: they wrote a story for each object.
The same items with the story sold for a total of $3612.51 That’s a 2706% value increase!
If normal market rules were at play, the objects should have sold for around the same amount. The only change was the addition of a story. The story added significant perceived value which resulted in a quantifiable increase in market value of the objects.
Stories and Value | Problem, Agitation, Solution
Now that we’ve established value comes from an emotional delta, let’s discuss why I love storytelling so much. Stories are structured to create these emotional deltas; they take advantage of them.
A story is basically the problem-agitation-solution (PAS) copywriting formula, but more elaborated. The P-A-S framework is the go-to copywriting formula that goes like this:
Problem: First, show someone their problem. This problem isn’t merely practical; it’s emotional. They’re frustrated about their current situation and doubting who they are.
Agitation: Next, dig into it. As you agitate the problem, the customer realizes you get them. Not only do you understand the problem, but you empathize with them. As you dig in, they feel the problem and see you as the guide to provide a way out. Only offer the solution after the problem is sufficiently agitated.
Solution: Offer your product which is the solution to their problem.
The PAS formula is designed to create an emotional delta so that when you present the solution (your product or service), it’s now seen as valuable in the eyes of your target audience.
A story is a chronicle of a character who wants something and endures a series of obstacles in order to get what they want. See how the P-A-S formula fits right into this? You’ve got a character with a driving desire to achieve something. That puts them on a forward trajectory where they will naturally encounter this problem. This is no ordinary problem – it’s significant to the character. It gets in the way of achieving their ultimate end state. As they are on the path, they encounter a series of problems. So instead of just leveraging one problem, the character must overcome multiple obstacles. The problem is agitated even further and it builds the framework for an even greater emotional delta. When at last the character obtains the solution, they not only receive their reward, but also learn lessons through their struggle. So not only does storytelling allow you to position something as rewarding or valuable, but you can also communicate wisdom and teach a lesson.
We’ve basically taken the P-A-S formula and made it more complex. We’ve added interest. We’re still creating that emotional delta, but there’s more to it.
Give Them What They Want: Stories
So not only does storytelling take advantage of this emotional delta to create value, it also leverages a messaging vehicle that’s intrinsically coded in all of us. Stories are at the core of who we are. Our identity foundation is a story - we call it a personal narrative. Stories are how we structure information in order to communicate broader and deeper meaning with one another.
But they’re also what we want to hear and experience because they reward us for our attention. That’s why we binge watch Netflix after work instead of hopping on LinkedIn and scrolling through a bunch of business content.
We want to see stories.
We want to be captivated by stories.
We want to be engaged in stories.
Why is that true? Stories create that emotional engagement and entertainment. They captivate us.
Think about the last movie you watched. Did you notice you were riding an emotional roller coaster? That's by design. If you’ve ever gone to see a scary movie in a theater, you may have noticed everyone got scared at the exact same time. It wasn’t a fluke. Everyone is experiencing that emotion simultaneously because that moment of fear and terror is engineered; it’s intentionally designed in the film.
Stories are a way of designing shared emotional experiences in order to communicate a message. So when we apply storytelling within a business context, we’re using that favorable messaging platform to help us to create these emotional deltas.
Stories Address Your Customer’s Deepest Problem: The Identity Crisis
And with storytelling, we’re also hitting at the core of someone: their identity. We’re digging into that deep philosophical problem they’re struggling with: Who am I? When a character wants a specific object, it typically reflects upon their identity and entire worldview.
Let’s use Luke Skywalker for an example. He wants to get off Tatooine because he feels this pull to do something exciting like become a pilot. There’s something inside of him longing to go on an adventure. He doesn’t understand why that drive is there, but he knows a great life quest is waiting for him. Throughout the story you understand why that drive is there: he’s destined to be a Jedi. It’s only at the end when he is flying the X-wing and utilizes the Force to blow up the Death Star that he transitions to becoming this greater person.
Let’s get back to applying this to business...
The end state within a story is often a transformational future the customer is hoping for. The customer doesn’t fully understand it at the beginning, but they’re struggling with their identity. So as problems start to happen, they don’t just annoy your customer - they cause an identity crisis. It’s exaggerating that emotional delta to fantastical levels. So when the solution is finally presented, your customer is not only grateful, but also feels rewarded. They see the solution as something that helps them become that ideal version of themselves.
Storytelling is just matching the ideal state with your target customer. Your target customer has this vision of who they want to become. They have a destination in mind. So with story, you’re reflecting that ideal state back to them. Not only do you empathize with them, but you know the path forward. They need your help.
It’s just like when Obi-Wan presented the lightsaber to Luke. Not only does Luke know Obi-Wan can help him get off the planet, but he gives him an item which reflects upon the greater transformation Luke will go through as he learns to become a Jedi.
So meet your target audience in that space and make sure they don’t see your offering as just a solution to their problem. You’re offering them a way to get off the planet they’re stuck on. You’ve provided a vehicle to take them to the ideal state they’re hoping for.
Now go use the power of storytelling to delight your customers and sweep them off the planet of misery. They’re waiting for you.