Other companies have squandered these opportunities in the past, so if Starbucks wants to maintain its industry dominance, the coffee giant will need to make sure its story is one worth hearing. Here's how: Tell a better brand story. Many companies position their brands based on a greater good, which makes the brand story come a little more naturally. For example, Patagonia and Toms Shoes highlight the good they do in the world in their stories because people like to connect their own consumer activities to positive social impact. Stories can remain consistent even when they've been adjusted for distinct audiences. They can spot a formulaic, insincere story from a mile away; instead, what they want is authentic, personable content. Sometimes, the company’s customers can tell the story just fine on their own. The research company Headstream found that only 53 percent of consumers it surveyed preferred content that comes directly from brands, even though non-branded content didn’t even exist until recently. You can do this too: Choose to make the consumer your central character instead of your brand, and your audience will connect more strongly with the message. But by staying focused on its audience, along with honest positioning a "sales-last" attitude, Starbucks -- and every other brand with a story -- can set itself up for long-term success.
Starbucks has had a tumultuous 2018. First, in April, a barista in Philadelphia called the police on two African American men who hadn’t ordered beverages, resulting in a national conversation on corporate racial relations. Then, in June, Starbucks CEO Howard Schultz announced his plans to leave the company. Schultz has hinted in recent interviews about a shift to politics (including a potential run at the presidency), leaving the Starbucks brand in a period of transition.
The Starbucks brand has always focused on its coffee shop atmosphere, but recent events have thrown the Seattle-based company into a different light. With the departure of the charismatic Schultz, Starbucks finds itself in the same situation as it was in, in 2000: at the end of a chapter with a new story to tell.
Stories are vital components of brand strategy. When thoughtfully crafted, they provide the foundation for creative development. Stories take the mission and vision statements of the company — which on their own might otherwise feel hollow — and make them real, demonstrating to employees and consumers alike that the company means what it says.
At this juncture, Starbucks has an opportunity to embody a new story that will guide its brand for years to come. Other companies have squandered these opportunities in the past, so if Starbucks wants to maintain its industry dominance, the coffee giant will need to make sure its story is one worth hearing. Here’s how:
Tell a better brand story.
Over the next few months, brand experts at Starbucks will be responsible for shaping the company’s direction for years to come. A well-told brand story should follow the following five guidelines for the best chance of success.
1. Reflect your purpose. In today’s buying world, consumers care deeply about the business behind the products. Many companies position their brands based on a greater good, which makes the brand story come a little more naturally. For example, Patagonia and Toms Shoes highlight the good they do in the world in their stories because people like to connect their own consumer activities to positive social impact.
Starbucks is already a champion of corporate responsibility, thanks in large part to the work of its departing CEO. If the coffee chain maintains its commitment to sustainable business practices, its brand story will start from…
COMMENTS