Storytelling is a powerful tool for any brand, and it’s especially important for consumer products. When a company can effectively communicate the values and mission behind its product, it can form a strong emotional connection with its customers. This connection is crucial for building brand loyalty and ensuring that customers continue to choose the product over competitors. Just look at Apple, Coca Cola, Nike to see just how strong the impact can be.
But storytelling isn’t just about crafting a compelling narrative; it’s also about focusing on the user and the problem that the product is solving for them. This means that founders should prioritize understanding their customers’ needs and pain points, and then developing products that directly address those issues. Take for example from this pitch by Rener Gracie, the founder of QuickFlip, at Shark Tank:
What triggered me to write about this is a post by afriend, who’s an experienced CTO and expert in AI. He commented on the way founders are pitching generative AI startups:
I had the chance to meet several generative AI startups in the last few weeks. Something in common to all of them is the focus on technology vs the focus on solving a business pain.
This case, of technology searching for a problem, is preparing itself in cycles every time a new hype is introduced.
If to learn from history, the focus should be on the business value and the first thing to solve is the basic product question – of what good are we bringing to our future customers? and after you answer, please validate with more the two.
Roey Mechrez, posted on LinkedIn
As a founder, it’s easy to get caught up in the excitement of your product and the features it offers. But when it comes to pitching to potential investors, it’s important to remember that they aren’t just looking for a list of technical specifications. They want to understand how your product solves a problem and why it’s worth investing in.
One effective way to do this is by telling a story. Instead of just listing off features, try to paint a picture of how your product fits into the lives of your potential customers. What problem does it solve for them? How does it make their lives easier or better?
For example, let’s say you have developed a new type of bike lock. Instead of just listing off the features of the lock (e.g. “it’s made of high-quality steel, has a keyless combination, and can withstand temperatures ranging from -20 to 120 degrees Fahrenheit”), try telling a story about how your lock helps a commuter feel more secure leaving their bike outside the office all day, or how it allows a family to lock up their bikes at the beach without worrying about sand getting into the keyhole.
By telling a story, you not only convey the value of your product, but you also make it more relatable and memorable for your audience. So the next time you’re pitching to investors, try to focus on the benefits of your product and how it fits into the lives of your customers. This is not only applicable to massive brands with millions in marketing budget.
For example, let’s say you have developed a new type of bike lock. Instead of just listing off the features of the lock (e.g. “it’s made of high-quality steel, has a keyless combination, and can withstand temperatures ranging from -20 to 120 degrees Fahrenheit”), try telling a story about how your lock helps a commuter feel more secure leaving their bike outside the office all day, or how it allows a family to lock up their bikes at the beach without worrying about sand getting into the keyhole.
When it comes to pitching tech startups, or even funds, a bit of story goes a long way. Below are a few examples that stand out. Consumer products like Dollar Shave Club are naturally good at this.
But B2B SaaS products like Descript, that can tell a story, instantly stand out. This video is two years old but I still consider it one of my favourite product videos ever:
I would be remiss to talk about the importance of storytelling without eating my own dog food. Here’s the new Remagine Ventures video we published recently, telling the story of what we do and how we work with founders. Do you also cringe watching videos of yourself?
Like any marketer knows, storytelling is a vital aspect of any consumer product, and founders should prioritize understanding and addressing the needs of their users. By focusing on the problem that their product is solving rather than the features of the product itself, they can create products that truly resonate with their audience and drive long-term success.
Of course, it’s also important to include some technical details about your product, especially if you’re pitching to a group of investors who are well-versed in the industry. But be sure to balance those details with a compelling narrative that showcases the real-world value of your product.
In short, don’t just pitch features – tell a story about how your product makes a difference in the lives of your customers. It will make your pitch more memorable and effective, and increase your chances of securing that all-important investment
I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.
I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
- Weekly #Firgun Newsletter – November 29 2024 - November 29, 2024
- Finding Alpha: Why the Best Startups Often Buck the Trends - November 25, 2024
- Weekly #FIRGUN Newsletter – November 22 2024 - November 22, 2024
