Olson on Selling: The Story is Very Important

Posted on July 29, 2007

I was lucky enough to be able to attend the 2007 BlogHer conference this weekend in Chicago. At the event I was able to put a lot of faces to names since a lot of loyal FeedBurner users and evangelists were among the speakers and attendees. Talking to people like Elise Bauer of Simply Recipes is always a great way to clarify my thinking about the product and what publishers want out of it. It also helps me to see what we should be looking to do in the future.

Anyhow, since I spent much of my time chatting at the Google/FeedBurner booth and in the hallways I didn’t get a chance to see many sessions. In fact, I only sat in on one but it was a very good one to sit in on.

The topic of the panel I sat in on was crafting and how blogs and the internet effect it. There were a lot of great folks on the panel including Amy Sedaris. For those unfamiliar with Amy, she’s a riot. I had seen her on Letterman a couple times so I knew the panel was going to be entertaining. However, what I didn’t know was that one of my past thoughts on this blog would be brought up.

I have been thinking about a store on the web for microfinance goods for a while. I first wrote about the idea in a post titled “Opening Markets for Microfinance Goods” where I talked about the idea as a simple online store. As the idea evolved in my mind though I began to find that a simple online store wouldn’t do it. Why? Because in a typical online store with many products the story of each product can’t be fully told.

For the microfinance goods store I figured that the story of each item needed to be told in a compelling way to make the idea work because people wanted to buy more than just an item, they also wanted a story and would perhaps even pay a premium for it.

This is why a lot of the fair trade stores on the internet haven’t made a huge splash. With too many products “on the shelf” the story of each product simply can’t be told in a compelling way so consumers will simply get the cheaper alternative in their local store.

Woot.com then became an inspiration to me. The way they have set things up is exactly the way in which a store devoted to microfinance goods, goods with a very rich story, would thrive.

Tell the story well and items will sell.

This same theme appeared in the middle of the crafting panel at BlogHer. When pricing and selling came up one of the panelists mentioned that telling the story of how she makes each item in a detailed and compelling way not only lets her sell her items quickly but also allows her to command higher prices for them then she would have been able to otherwise.

The other panelists then began to chime is stating that they have seen the same thing happen with their crafts. Wow, I thought, so this theory really does produce compelling results. With woot.com and these crafting ladies backing things up I then turned my attention onto some of the more compelling companies to come out of the Web 2.0 space and I found that they too were telling compelling stories.

Take FeedBurner for example since I am intimately familiar with how things were done there. We always had great content on the site and witty banter that made the company feel more like a person. Not only that but we, along with other companies in the space, used our blogs as a communication platform to both tell the story of FeedBuner and engage with our users. While this is slightly different than telling the story of a specific item and then selling it I believe it still follows the same framework.

Bottom line: People love stories and are willing to be more loyal to a company or pay more for a product (or even simply buy the product in the first place) if they understand the story and feel they are an intimate part of it.

In fact, I notice myself following that behavior as well. Although I do think Cervelo bikes are superior to other bikes I do love the fact that they tie in a good story to the bike about how they are obsessive about their engineering and work on every little piece of the bike to make it better. That story alone has drawn me to Cervelo. (However, their bikes are still a bit pricey for me but maybe they’ll throw me a bone for the free publicity.)

Next up in the Olson on Selling series: Support is King

Subscribe


Enter your email address:

Delivered by FeedBurner

Search this Site

Lijit Search


Leave a Comment

If you would like to make a comment, please fill out the form below.

Name (required)

Email (required)

Website

Comments

1 Comment so far
  1. Elise Bauer July 30, 2007 10:19 pm

    Hi Eric,

    So great to finally meet you in person at BlogHer! That was an entertaining panel, wasn’t it? Amy Sedaris is a riot. I liked the idea about the story helping to sell the product too. I like to buy crafted goods. When I look at them I think of the people and hands that made them. I have several hand-knotted rugs from Turkey, where the symbol of the village they were made is woven into the rug, and I have the photos of the women who did the weaving. These rugs can take months to make. Knowing that, and knowing just a little about who made them makes the rugs special. Simply Recipes has little stories too. Not long, but enough to let our readers know the hands and eyes that bring them the recipes and the photos. It’s not just the information, or the product. It’s the care and love that bring them to you. Anyway, great to meet you. Please say hi to the FB team for me.