The Paramount Value of Storytelling in Selling

September 10, 2016

Bill McGlade

With more than a dozen years of experience in the event industry, Bill McGlade is a thought leader seeking to provide provoking conversations that push the envelope and the industry forward. He is founder and CEO of Victory Productions.

 

The hot topic these days is utilizing storytelling for connecting with our audience and prospects. Most of us in the events industry have heard a lot about storytelling, but may not understand the how or the why specifically for sales. Many times, in sales, we tend to take the traditional route of showcasing the features and benefits of a package. That is not always helpful in getting a prospective client to form a strong connection with what we are offering. Let’s take the leap, break the mold and incorporate storytelling in our narrative to sell a bit differently. Here’s why.

The Human Mind

First, a little history. Humans have been telling and recalling stories since we first learned to communicate. This is one of the backbones of our nature, the ability to tell a story. The human mind’s ability to recall and relate to these stories is even more impressive. Take a second and look back at your story, your life. How many stories can you remember? How many stories made an impression on your life?

Simplifies Selling

Stories make it easier to understand complicated concepts, anticipate outcomes and perceive the tangible and intangible value in a proposal. That is what makes it an extremely effective tool for sales. If you can take your client or prospect on a journey that explains your pitch in a way that will make exhibitors and sponsors remember it forever, wouldn’t you? Stories bring in emotions and logic to the thought process. It is these emotions that will motivate them to purchase sooner and purchase faster.

Works on Multiple Levels

Personal: When storytelling ties into the problems and issues that specific to your prospect’s concerns, it can help build a better relationship with them and help move the sales process along. Make sure to fully understand their concerns and requirements in order to appropriately personalize your narrative.

Emotions: Emotions, no matter how logical a person is, play a large factor in successful sales. Logic can change based on facts, and only facts. Emotions can be affected by numerous factors. This is a double-edged sword because many factors can change the emotional and it is key to ensure that your story address their concern and makes it clear that you empathize with them.

Multisensory: Smart sales professionals create opportunities to engage their audience through a multisensory engagement strategy during a sales demonstration. A personalized story that incorporates visuals, props and interactivity can help engage them better. Needless to say, by adding some delectable food to the equation, you can help engage multiple senses simultaneously!

How to Storytell Right

Make sure the story is true. Trust builds deeper relations. If your story is made up, it can ruin your relationship and lose that client or prospect forever. Make sure to re-read it many times, and understand fully why it works.

Create a hero. Hero stories are wildly popular in movies. If it works there, it can certainly work in sales. Narrate success stories from your current client base to create the hero’s journey.

Inspire them and give them hope that their concerns can be resolved. Educate them through the story. Education is key to the success of any story, after all there is a moral to every story. Right?

Conclusion

If you have been thinking that storytelling is not right for you and your sales team, this is the time to rethink your strategy. There has been a lot of success from this sales technique. If your numbers aren’t quite where they should be, where’s the harm in giving it a try?

Storytelling is powerful. It’s a way to have the mind recall things more easily. It’s a way to make sure you communicate that you understand the buyer’s concerns and can resolve them.

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.