Don’t neglect the power of combining strategy and story

Stories have connected people for thousands of years. Even before written language, we told stories and in today’s digital age, there are so many ways to share them. Technology has made storytelling and connecting with people around the globe possible – we must take advantage of these opportunities

I recently came across an article from Harvard Business Review discussing the importance of communicating your business strategy through stories. While I think that’s an interesting concept, I’m going to take an adjacent route and discuss the power of incorporating stories into your strategy to promote growth:

  1. Testimonials. Where do we look to make sure that the product we’re going to receive is high-quality? The reviews. Testimonials are your reviews. Collect transparent feedback from your members. Then, use those testimonials on your website or in advertisements in your local newspaper. Show prospective members that the products and services you offer are high-quality. For an advocacy organization like NAFCU, testimonials are also critical to sharing your stories with policymakers in Washington. They show how everyday Americans are impacted by various laws and regulations. Additionally, by collecting that feedback, you’ll get both testimonials to share and constructive feedback on things to improve. Two birds, one stone.
  2. Branding. Another way to use stories for strategy is to incorporate them into your brand. Most credit unions have served the same core community for decades. Make sure people know that. Tell your history, share your vision for the future, and detail how you have helped local members achieve their dreams. What you do for your community is what makes your institution stand apart from competitors. Your brand should put those differences on display.


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