Donald Miller, author of Building a StoryBrand 2.0, posits a fundamental marketing principle: “Nobody wants to hear your story; they want to be invited into a story.” This principle highlights a common misstep in business messaging, where companies center their narrative around themselves rather than their customers. Financial planning, in particular, often falls prey to this mistake, showcasing services and expertise instead of focusing on the client’s journey and financial goals. Miller’s background as a memoirist turned marketing strategist provides a unique perspective on narrative theory, emphasizing the importance of understanding how stories work to create compelling brand messaging. His work isn’t just about storytelling, but about strategically using narrative to clarify a business’s value proposition and resonate with its target audience.
The core of Miller’s StoryBrand framework, the SB7, outlines the seven universal plot points found in successful stories, from classic literature to blockbuster films and iconic brands. These plot points follow a familiar arc: a character has a problem, meets a guide, who gives them a plan, calls them to action, which helps them avoid failure and ultimately achieve success. The error many businesses make, according to Miller, is casting themselves as the hero of the story instead of the guide. This often manifests in marketing materials that prioritize company achievements and technical jargon over addressing customer needs and aspirations. The StoryBrand methodology encourages businesses to relinquish the protagonist role and embrace their position as the helpful guide, facilitating the customer’s journey toward their desired outcome.
Applying this framework to financial planning redefines the advisor-client relationship. The client becomes the hero, facing the challenge of navigating complex financial decisions. The financial advisor assumes the role of the guide, offering expertise and support to help the client overcome obstacles and achieve their financial goals. This guidance encompasses a range of skills, including teaching, technical knowledge, consulting, and persuasion, all tailored to empower the client. The financial plan, while comprehensive, should be presented in manageable steps, acknowledging the principles of behavioral finance and avoiding overwhelming the client with information. The advisor’s role extends beyond creating the plan to motivating the client to take action and providing ongoing accountability.
The success of the plan depends on the client’s active participation and implementation. Financial plans don’t always unfold perfectly; unexpected circumstances and market fluctuations can create plot twists. These deviations from the initial plan offer opportunities for the advisor to re-engage with the client, reassess the situation, and adjust the plan accordingly. These “plot twists” are not failures, but rather integral parts of the ongoing financial journey, emphasizing the dynamic nature of planning and the value of a trusted advisor. Just as compelling narratives often feature multiple plot twists, the ability to adapt and overcome challenges strengthens the advisor-client relationship.
Building on the original framework, StoryBrand 2.0 introduces the concept of the “controlling idea,” a concise statement that encapsulates the core narrative of the brand. This controlling idea provides focus and clarity for all marketing messages, ensuring consistency and preventing distractions. Miller emphasizes the importance of a singular, easily understood plotline, using the analogy of a lost dog returning home to illustrate how extraneous storylines can detract from the central message. He provides examples ranging from classic narratives like The Lion King to real-world business applications, such as a gym franchise distilling its unique selling proposition down to “twenty minutes, twice.” This concept encourages businesses to identify the essence of their brand story and filter all messaging through this lens, ensuring that every communication reinforces the core narrative.
To further assist businesses in implementing the StoryBrand methodology, Miller introduces StoryBrand.Ai, a software tool that generates a comprehensive suite of marketing materials based on the StoryBrand framework. This tool offers a streamlined approach to crafting brand scripts, website copy, social media content, and other marketing assets, all aligned with the principles of storytelling and customer-centric messaging. The tool underscores the core message of StoryBrand, shifting the focus from the company’s story to the client’s journey and creating an inviting narrative that resonates with their needs and aspirations. This streamlined approach enables businesses to efficiently create consistent and compelling messaging, further reinforcing the importance of focusing on the customer’s story. Ultimately, the StoryBrand methodology challenges businesses to rethink their marketing approach, placing the customer at the center of the narrative and empowering them to achieve their goals with the guidance of the brand.
