When they are founded, a kind of DNA is created that persists for the life of the company. Thinking is the DNA of IBM’s brand. When beginning to develop a strategic narrative, I’d say the biggest problem is trying to appeal to everyone as opposed to saying, “This is a specific market we’re going after.” Don’t try to do everything, try to build out a small market. The concept of third place powered years of exponential growth for Starbucks until Schultz stepped away from direct management of the business in 2000. Most companies get it wrong. When it comes to strategic narrative, the first thing you have to do is understand what it is and make sure that your target audience is enlightened too. How to Build a Strategic Narrative. People want to get a sense for your company as if it were a person. Harvard Business Publishing is an affiliate of Harvard Business School. When he founded the company, Sam Walton said, “If we work together, we’ll lower the cost of living for everyone.” Other retailers can match Walmart’s strategy, but not its narrative. This doesn’t come out of the usual competitive landscape, customer interviews, and whiteboard sessions. It’s by no means unique among retailers. Bulk Pricing: Buy in bulk and save Bulk discount rates × Below are the available bulk discount rates for each individual item when you purchase a certain amount. That type of thinking poses a risk that companies don’t want to take. The cornerstone of a strategic narrative is a shared purpose. It says who you are as a company. In addition to being part of the inspiration in the mission, it also helps define the respective roles. I bring the entrée, you bring the salad, and someone else the dessert. Choosing meaningful methods of communication within your company and with your clients, and avoiding confusion is a good recipe for building a good strategy. Nike’s “Just Do It” slogan is a key part of its narrative. You want to know what inspires them, what they are like to work with, and whether they can be counted on. Copyright © 2020 Harvard Business School Publishing. Where you’ve been, where you are, and where you are going. While the content here is specific to Uberflip, you can use the same structure to build a strategic narrative for anything you pitch to anyone: 1. The second function of the narrative is to explain the roles necessary to fulfill the shared purpose. Narrative strategy is a use of certain narrative techniques and practices to achieve a certain goal. It’s more than a value proposition of what you deliver to them. But Walmart’s shared purpose is not about lowering prices, but raising the quality of life. You want to know what inspires them, what they are like to work with, and whether they can be counted on. As an example, Nike has a mission “to bring inspiration and innovation to every athlete in the world.” What makes this a shared purpose is that Nike actively encourages people to inspire each other. This is a good technique. Some companies have a powerful narrative and then lose it. This shared purpose is the outcome that you and your customer are working … But the opposite can also be true. Choosing meaningful methods of communication within your company and with your clients, and avoiding confusion is a good recipe for building a good strategy. You have the candidate’s resume, but what really matters can’t be put on paper. It is no coincidence that market leading companies like IBM, Nike, Walmart, and Starbucks have powerful narratives. Starbucks is not a coffee company that serves people. Or a mission of what you do for the world. It may sound a bit strange at first, but the same is true for your company. How you believe value is created and what you value in relationships. Name a Big, Relevant Change in the World. The natural step is to give the assignment to an agency. It’s more than a value proposition of what you deliver to them. It’s the journey that you are on with them. The narrative should say who you are, not just what you do. Most PR firms with messaging and communication plans. Most companies don’t have a powerful narrative. The first step is to understand the context of the narrative. Specific but with room to grow. Below I've summarised Andy Raskin's posts to understand how he helps build narratives for companies including examples and key points. Schultz writes: “Starbucks’ coffee is exceptional, yes, but emotional connection is our true value proposition. People want to get a sense for your company as if it were a person. It’s not a coincidence that the mantra of IBM’s founder, Tom Watson, was THINK; IBM’s last marketing strategy was based on the idea of a Smarter Planet; and its current strategy is based on the idea of Cognitive Business. 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