Give Yourself A “Story Premium”
The perceived worth of products is boosted by up to 74% when accompanied by stories
Humans may be wired to enjoy stories, but can businesses really benefit from telling stories in a way that can be measured?
A series of five experiments we conducted show that stories boost the perceived value of products by a significant amount, that the effect persists across multiple conditions, and that it is robust enough to survive repeated testing.
Participants were presented with a series of situations and asked to indicate what amount they would be willing to pay in each situation. Situations in the experimental conditions were described using short stories. Situations in the control conditions were described using a list of product features or facts.