BUSINESS
The Art of Storytelling in Branding: Creating Authentic Connections in a Crowded Marketplace
The Art of Storytelling in Branding: Creating Authentic Connections in a Crowded Marketplace.
Since the history of human existence, storytelling has been the medium cultures use to pass on beliefs and tradition. Telling a story makes information memorable. Nothing tickles the imagination like a properly crafted story. We’re customized to be drawn to stories. Admittedly the tales by moonlight may have fade away, however our inner core yearns for stories. That’s why we appreciate movies and fictions with good plot, gists with our friends, the news, etc. Every human, regardless of age, craves a story. Some plot to ride with. We want to feel the pain and joys of others as they pass through varying phases.
Before now, companies were just near lifeless establishments that supplied goods. All they had to do was provide goods and services that met needs. Businesses were not generally interested in connecting with their customers on a level beyond buying and selling. However with the increasing number of manufacturers of goods and providers of service came stiff competition. Customers now possessed the power of choice. This resulted in people buying as a result of emotional sentiments. The monopoly in certain goods and services was removed. Customers had to buy from brands they could connect with, even though such connection might have been unintentional at the time. This prompted brands to seek out ways of connecting with their customers. Storytelling became a very effective means of communicating with their customers.
Brands realized that when it comes to promoting a business – audiences are much more inclined to connect with a good story than a good product. It is not enough to get people to engage with your brand. Instead, customers are attracted to brands they can relate to, brands that interest them – brands with a compelling narrative to tell.
What is Brand Storytelling?
Brand Storytelling is a marketing means of using engaging narratives to communicate a message which differentiates a brand from others. It is simply the means a brand uses to communicate her uniqueness in such a busy business world. The goal is to make the viewer feel something – enough that it’ll inspire them to take action, and to increase their brand loyalty. Storytelling in marketing helps consumers to understand why they should care about something, and it works to humanise your brand.
For every brand today, couching compelling stories is an essential part of distinguishing from competition. As competition for customers continues to grow intense, more buisness teams and marketing heads have learnt to devote time to thinking about curating captivating brand stories. In the following post, we’ll outline a few ways you can tell your brand story on your website in order to help prospective customers understand what makes your business, products, and services unique
A successful brand story helps you achieve the following
Distinguish Your Business: Everywhere we turn today, there’s more than a dozen brands producing the same goods or delivering the same service. Today’s market is brimming with similar goods and services. What makes your business distinct is your brand story. This prompts buyers to purchase from companies that share their core values. An original and compelling story helps attract customers with similar values.
Build Customer Trust: Your brand story establishes your brand promise and explains how you deliver on the expectations. Following through on brand promises deepens your business’ connection with its customers and builds customer trust.
Maximize Resources: The interesting thing about brand storytelling is the fact that it doesn’t necessarily require a large budget. Small businesses can use their brand story to attract new customers, even without a big marketing budget. Besides the regular online publishing of brand stories, loyal customers help to spread brand stories. This gives small businesses the edge to maximize local relationships and boost their customer base.
Develop a bond with your Audience: Modern buyers look beyond price tags and comfortable deals to the heart of a Business. Customers are now inclined to brands that resonate with their values and ideas. This makes a business’s reputation depend entirely on her connection with her customers. Brand loyalty now arises as a result of some emotional connection with a brand, which is always a result of a captivating brand story.
Where and In What Medium Can I Create My Brand Story?
- On Your About Page: The first place you go to whenever you visit a website is the “About Us” section. This is a very good place to position a story that will reveal the goal and purpose of your brand. Your About page is a nearly perfect place to include information that will help visitors understand what your brand does, the why behind what your brand does, and why they should care.
- In Videos: This is commonplace as well. Top brands as Disney, Coca Cola, etc have created incredibly captivating brand stories in videos. Creatively find a plot that reveals the spirit of your brand. Turn the plot into a compelling video that will leave your audience emotionally connected to your brand! You may also have videos of your employees in action, your staff narrating what is to be loved about your brand, satisfied customers expressing their satisfaction, “behind-the-scenes” videos that give prospective customers a glimpse into how your business operates, etc. All these are video concepts that can reveal the story behind a brand.
- In Pictures: A brand story can be told in pictures such as photos of employees interracting with customers, photos of employees off the job, highlighting their other passions and hobbies, photos that illustrate how your business, products, or services have evolved over time, historical photos that help visitors understand what your business was like in the early years of establishment, etc.
- Your brand story may also be contained in blogposts, newsletters, etc.
How To Write A Good Brand Story
A brand story has to contain certain elements in order to appeal to the emotions of your customers.
- A Brand Story Must Have A Status Quo: The status quo is an outline of how things are done usually. Your brand story must contain events and happenings as they are at the moment. What obtains in the industry your business operates? What is the regular state of events associated with your product or service? For example, if you’re creating a brand story around an automobile brand, you should create a story around what obtains currently in the transportation sector. Your brand story must have a plot which starts with the way things happen in the industry your brand operates.
- Your Story Must Have A Conflict
At their core, stories are about overcoming challenges. Absence of conflict means there’s no drama or emotional journey for people to relate to. Such story won’t hold attention, much less resonate and inspire. The conflict phase of every brand story may be used to achieve two purposes
Expose the flaws with the status quo in the industry or sector your brand operates. Recall that your plot must have set out the status quo. The role of a conflict in this regard is to point out the achilles heel in such status quo. The conflict in your story disrupts the status quo and puts something at stake, forcing the protagonist, your brand, to actively find a solution to the problem.
Secondly, a conflict may be used to further humanize your brand. Have you ever felt that jolt of compassion when a character you love in a movie experiences harmatia? It’s as though you want to get in the movie and help such character through the pain being experienced right? That’s what a well-positioned conflict can achieve in a brand story. Brands might shy away from revealing any adversity or conflict because a blemish-free story about growth seems like the best way to convince people they’re the best-in-class solution, free of imperfections. In truth, this is a serious misconception because everything has flaws. In addition, as a human, we all appreciate the fact that life comes at us all in various ways. So when a brand reveals their flaws, it evokes feelings of compassion which makes customers connect faster to a brand. The more honest you are about your brand’s shortcomings, the more people will respect you and relate to your brand.
- Your Story Must Have A Resolution
Every brand story must show a resolution. The resolution is how the protagonist solves the conflict. The protagonist, your brand, must show how she overcomes the conflict with the status quo or otherwise. Without a resolution, there’s no emotional payoff for the audience. Hence every good brand story must have a resolution.
- Your Story Must End With a Call To Action (CTA)
Think about your brand story as it is right now. What is it you want your customers to do? Buy a product or service? Sign-up for a newsletter? You customers need a compass and push to take action. Is the customer’s path to take action precise? You know you are the best choice to solve your customer’s problems. But do your prospective customers know that? If your story struggles to tell your customers what you want them to do, they’ll make their own decision. As always, that decision is to leave and not come back. This is the essence of a call to action. A CTA basically directs your customers towards the necessary action they should take after you’ve shown how your brand resolves the conflict with the status quo.
Tips To Create An Effective Brand Story
- Find your why: Every brand has a reason for existence. This is the primary message a brand must communicate in her story. Find out the “why” behind your business. What is your brand’s mission? What problem does your business seek to solve? These pertinent questions must be asked and answered succinctly in your brand story.
- Know your product: Sound understanding of your product is very necessary while crafting your brand story. How does your product relate to your “why”? What is the unique feature that sets your product/service apart from it’s counterparts?
- Understand and be in harmony with your audience: It would be a bad move to create a brand story without knowing and understanding your customer base. How does your product relate to them? How does it take away the pain or need they feel? Why should your audience care about the “why” behind your brand? It is necessary to identify these while crafting a brand story.
- Tell your brands’s actual story: Don’t just spit out some reels. Most brands come up with just about any reel that “informs” prospects about their presence. This is what a bland reel does. It just informs prospects. It doesn’t create any connection, neither does it leave an imprint. When crafting your brand story, tell the actual story behind your brand in a creative way and realize the magic it works!
- Your story must captivate attention: We already know that the marketplace today is brimming with brands. This leaves buyers with a difficult task of selecting a brand that aligns with their values. You story must be catchy enough to capture and hold a prospect’s attention.
- Your stories should be imaginative: However you choose to tell stories, as long as you run a good plot with compelling characters, and plenty of emotion – you’ll keep your audience captivated.
In conclusion, your brand story is what inspires your customers and keeps them emotionally connected to your brand. It is a very strong marketing strategy that turns prospects to customers, and customers to loyalists. Study the brand stories of top brands as Coca Cola, Disney, Guinness, etc and observe how their stories inspire their customers to stay loyal and connected to the brand.
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BUSINESS
Adamawa Mortgage Bank Faces ₦10 Billion Lawsuit for Alleged Contract Breach with Wisdom Kwati Smart City
Wisdom Kwati Smart City Ltd, a prominent property development firm based in Abuja, has launched a lawsuit against Adamawa Mortgage Bank Ltd, seeking ₦10 billion in damages. The legal action follows a breach in a joint venture agreement between the two parties for a 20.5-hectare property development in Sangere Village, Yola South, Adamawa State.
The joint venture was established to transform the Sangere property into a large-scale residential development, with work already underway and over 3.5 billion invested in the construction of over 200 housing units and on the estate’s infrastructures. However, tensions arose when Adamawa Mortgage Bank publicly withdrew from the agreement, and without appropriate notice or engagement with the firm, released a statement on The Cable newspaper on November 9, 2024. In its announcement, the bank warned prospective buyers, stating:
“This is to inform the general public that Adamawa Mortgage Bank Ltd is not selling its land at Sangere-Wisdom Kwati Smart City. Anyone buying land at the property does so at his own risk. Take further notice that the bank has withdrawn from the joint venture agreement with Wisdom Kwati Smart City. Thank you. Signed Management.”
Following this statement, Wisdom Kwati Smart City Ltd, led by Chairman Mr. Wisdom Kwati, filed for both an interlocutory and interim injunction. The lawsuit names both Adamawa Mortgage Bank Ltd and its Managing Director, Dr. Noris Giscard Stanley, as defendants, alleging breach of contract and reputational harm caused by the bank’s public renouncement.
On November 14, 2024, the High Court of Justice of Adamawa State issued an interim injunction, temporarily restraining the mortgage bank from further actions related to the property until a resolution is reached. The court has ordered the defendants to respond to the claims and appear before the court within 30 days of receiving the summons.
The implications of the contract dispute are significant, given the current stage of the project. According to representatives of Wisdom Kwati Smart City Ltd, the company has invested over ₦3.5 billion in construction and developmental costs on over 200 buildings currently under construction at the site, of which over 50 units are at the finishing level of construction, and infrastructural development that are well into the third phase of the company’s five-phase development plan.
Industry observers suggest that a swift resolution of the dispute would be in the best interests of both parties and their investors, who rely on the stability of the joint venture to secure their investments. The project, originally designed to develop 317 mixed housing units, is already well past its midpoint, making it highly unreasonable for a partner to withdraw at this stage.
Wisdom Kwati Smart City Ltd has expressed a commitment to seeing the project through to completion and ensuring that stakeholders are kept informed of any significant developments in the case. Despite the legal steps taken, the real estate company has reportedly made several attempts to resolve the matter through dialogue, but the bank has reportedly not been forthcoming.
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BANKING
Afreximbank Acts as Joint Lead Manager on Ecobank Transnational Incorporated’s USD 400mn Senior Unsecured Note Issuance
The proceeds of the note will fund general corporate purposes of the issuer, including refinancing of a USD350 million senior bridge-to-bond loan facility that was jointly coordinated by Afreximbank in March 2024.
African Export-Import Bank (“Afreximbank”) (www.Afreximbank.com) is pleased to announce that it has successfully acted as Joint Lead Manager and Bookrunner on a USD 400 million 10.125% Rule 144a/RegS senior unsecured note issuance by Ecobank Transnational Incorporated (“ETI”) due in October 2029.
The proceeds of the note will fund general corporate purposes of the issuer, including refinancing of a USD350 million senior bridge-to-bond loan facility that was jointly coordinated by Afreximbank in March 2024.
The note issuance achieved peak orderbook oversubscription of 2.1x, backed by more than 70 high-quality and diverse investors comprising development finance institutions, asset managers, commercial banks and insurance companies from Africa, the UK, USA, Europe and the Middle East.
Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commenting on the transaction, said: “We are pleased to have supported Ecobank Transnational Incorporated (“ETI”) in placing the first public Eurobond issuance by any Sub-Saharan African financial institution since 2021, following our bridge financing support earlier in the year. This transaction underscores Afreximbank’s capacity and readiness to structure innovative market access solutions for our pan-African banking partners.”
Afreximbank’s Advisory and Capital Markets (ACMA) department acted as Joint Lead Manager and Bookrunner on the issuance, working alongside international and African partners.
Distributed by APO Group on behalf of Afreximbank.
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BUSINESS
Japan: African Development Bank Celebrates Three Decades of Japan-Backed Trust Fund
Japan: African Development Bank Celebrates Three Decades of Japan-Backed Trust Fund
Over the past three decades, Japan has contributed JPY 5.3 billion ($ 37.4 million) to the PHRDG, supporting 107 projects, with 96 completed and 11 ongoing as of September 2024
The African Development Bank Group (www.AfDB.org) has celebrated the 30th anniversary of the Policy and Human Resource Development Grant (PHRDG), a bilateral trust fund created by Japan in 1994.The initiative has contributed significantly to the development of Africa’s human capital, supporting over 100 transformational projects across various sectors.
Presenting a commemorative publication on the trust fund at the Ministry of Finance in Tokyo on Wednesday, 16 October, Dr Akinwumi Adesina Adesina, African Development Bank Group President said the publication highlights three decades of successful collaboration and the impactful projects funded by the Policy and Human Resource Development Grant, as well as the critical role the grant has played in Africa’s socioeconomic development.
Over the past three decades, Japan has contributed JPY 5.3 billion ($ 37.4 million) to the PHRDG, supporting 107 projects, with 96 completed and 11 ongoing as of September 2024. In recent years, the trust fund has seen a notable increase in contributions, underscoring Japan’s renewed commitment to fostering a climate-smart, resilient, inclusive, and integrated Africa.
Japan’s Vice Minister of Finance for International Affairs, Atsushi Mimura, said he was pleased the country’s partnership with the African Development Bank Group was going well. He pledged continued support, particularly for the African Development Fund, the private sector, and Japanese and African start-ups
“We look forward to deepening Japan’s relationship with the African Development Bank,” he said.
Mimura described the African Development Bank Group’s partnership with the World Bank’s plan to bring electricity to 300 million Africans (Mission 300) as a powerful narrative that draws attention to the continent’s energy needs.
Adesina commended Japan for its strong support of the African Dev?
elopment Fund, noting that the Fund has delivered impressive results. He sought the country’s support on a wide range of issues, including the 17th general replenishment of the African Development Fund, Mission 300 (http://apo-opa.co/3YcTfy2), Special Drawing Rights, the private sector, and start-ups, among others.
“We thank the people of Japan for standing in solidarity with the people of Africa,” Adesina said.
Since its establishment, the PHRDG has been a vehicle for Japan to share its expertise and experience in human resource development, empowering Africans to lead the transformation of their societies and economies. The grant has supported a wide range of projects aligned with Japan and the African Development Bank Group’s shared objective of human capital development. Officials said the projects have laid the groundwork for accelerated economic growth in Africa.
In a foreword to the Policy and Human Resource Development Grant at 30 publication, Deputy Vice Minister of Finance for International Affairs Daiho Fujii, expressed Japan’s pride in celebrating the 30th anniversary of the PHRDG.
“Japan is leading the international community’s efforts to overcome global challenges, particularly those affecting vulnerable populations. Through the PHRDG, we provide technical cooperation to develop the human resources that will drive Africa’s socioeconomic transformation. Our partnership with the African Development Bank Group is key to realizing a more resilient and prosperous Africa.”
As the Policy and Human Resource Development Grant enters its fourth decade, the African Development Bank Group and Japan have expressed eagerness to expand their partnership. With six new projects in the 2024–2025 pipeline, including initiatives in higher education, debt management, and climate-smart agriculture, the trust fund remains a critical tool for delivering impact across Africa, officials said.
Both parties pledged to continue to work hand in hand to unlock the potential of Africa’s human capital, fostering innovation and economic development for generations to come.
Japan–Africa Dream Scholarship Program: Investing in the Future
Among the most impactful PHRDG-funded initiatives is the Japan-Africa Dream Scholarship Program (JADS), launched in 2017. This program aims to develop Africa’s human capital by offering scholarships to high-achieving African students for master’s studies in fields such as agriculture, development economics, energy, and public health. To date, the program has awarded scholarships to 23 students from 10 African countries, two-thirds of whom are women.
Graduates of the JADS program have gone on to make significant contributions to their home countries. Alumni include Mary Yeboah Asantewaa from Ghana, who now works at SORA Technology in Accra, leveraging drone technology to control infectious diseases, and Glory Sibale from Malawi, who joined Tokyo’s Taiyo-Yuka recycling company, focusing on sustainable agricultural project management.
As part of his mission to Japan, Adesina also met with Nobumitsu Hayashi, the Governor of the Japan Bank for International Cooperation, to expand collaboration in key areas, including agriculture, healthcare, energy access, support for youth entrepreneurs, critical minerals, and regional corridors.
Later Wednesday, Adesina met with the leadership of the Association of African Economic and Development Japan, where both parties discussed potential collaborations for impactful projects. He continued with meetings with Kanetsugu Mike, Chairman of Mitsubishi UFJ Financial Group, and Ken Shibuya, Co-Chairman of the Global South Africa Committee of Keizai Doyukai (Japan Association of Corporate Executives).
The African Development Bank president invited business leaders to the 2024 Africa Investment Forum to be held in Rabat in December. Adesina also hosted representatives of the African diplomatic corps, development partners, and the private and public sectors, where they discussed leveraging co-creative relationships with Japanese companies and institutions.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
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