Harvard business professor John Kotter once said that leaders “under communicate their visions for change by at least a factor of 10.” A single email, a single presentation, a single tweet is not enough. Changing a narrative requires repetition.
I was thinking about Kotter’s observation recently as I sat in a meeting with senior leaders of a tech company who are excited about their products, but frustrated with the perception that analysts and consumers have about the brand.
The company has moved on from its roots—its founding narrative. Today the company is far more influential than ever and has diversified considerably, but is still known for a product category it dominated long ago. I suggested that the company turn everyone into chief storytelling officers: leaders, managers, sales professionals and employees. Give them the key messages, story arcs and tools to share the story simply and consistently to everyone from customers to the media.
If you don’t own your story, your competitors will and you won’t like their version.
In 2008, I learned a powerful lesson about the need for leaders to own their brand stories. I was sitting in a conference room with the founder of a Silicon Valley company whose technology has transformed the electronic devices we use every day. We were watching video clips of the CEO facing intense criticism on business shows for turning down an offer to buy his company. The size of the offer grabbed the headlines–$26 a share, an 80% premium to where the stock was trading.
“Carmine, nobody understands our story,” the CEO said, raising his voice in frustration.
“Then do a better job of telling it,” I said. “You’re a brilliant physicist. You haven’t had to be a storyteller. Your job now as a leader is to paint an irresistible picture of a future made better by your product.”
The entrepreneur rejected the offer—took the heat from disappointed investors—and regained control of the narrative. He talked about how the company’s technology had transformed the way we live, work and play. He took the audience on a journey from the company’s past to where it was headed. The CEO relinquished some control over the story and allowed other talented, charismatic leaders to share the stage—speaking at conferences and in the media.
The narrative generated excitement among investors who began to reward the company with a higher stock price. Five years later the company’s shares hit $100. It sold for $19 billion.
If you don’t own your story, someone will else will.
Every brand, every leader has a story to tell. Own the story and share it…often. Make your case publicly. Share your story on Facebook, Instagram and Twitter. Build out your story on your company’s website. Post videos of your presentations or interviews on your social media platforms. Make it easy for people to see and hear your brand narrative. In today’s world where information gets shared in the blink of an eye—it’s better to own your story before someone else decides to do it for you.