The stories worth $8000

I am often asked what evidence I have that storytelling adds value, customers and, bottom line, profit to a business.

I have lots – but this is one of my favourite examples:

Rob Walker and Joshua Glenn set out to demonstrate that the effect of narrative on any given object’s subjective value can be measured objectively.

Their study involved buying cheap trinkets from charity shops, pairing the items with great writers who invented stories about them, and then auctioning them off online – with a ‘story’ instead of an ‘item description’.

One hundred objects, purchased for no more than $4 apiece (including the hand-held bubble blower that grants wishes and the miniature bottle that has a strange magic curse) were sold for nearly $8,000.00 in total!

If everyday objects and ornaments can significantly increase in value, when brought to life with a story, imagine what telling your own unique and authentic story could do for your business.