What are narratives and why are they important to marketers?
Whether we’re conscious of it or not, we hold beliefs, make assumptions, and tell ourselves stories about the world around us – these are our narratives.
Narratives shape not only how we perceive and interact with the world, but also how we receive brands, products, messages, campaigns, and customer experiences. Narratives are unseen forces that drive behavior, and can work for or against you – often in unexpected ways. Now, the volume and velocity of digital and user-generated content make it even harder to harness narratives to your advantage.
Why are narratives especially important for financial services?
The financial services industry is rich with narratives—packed with emotion—some good and some not. From issues about trust, to confusion about products, to personal views about money and love/hate relationships with certain brands—narratives are everywhere. The question is, do you understand them and are you using them to your advantage?
The good news is: narratives are now identifiable within the ever-growing sea of rich-content and data in the digital world. Monitor 360, using its proprietary Narrative AnalyticsTM approach, can now surface narratives in this data, quantify them, and connect them to client strategy.