Status "stories"

 

STATUS STORIES: As more brands (have to) go niche and therefore tell stories that aren't known to the masses, and as experiences and non-consumption-related expenditures take over from physical (and more visible) status symbols, consumers will increasingly have to tell each other stories to achieve a status dividend from their purchases. Expect a shift from brands telling a story, to brands helping consumers tell status-yielding stories to other consumers.

 

background: 

 

Ah, storytelling, yet another holy grail in the wonderful world of marketing. What's new in this field? How about companies no longer inundating consumers with their 'brand stories', but instead helping customers tell a story to other consumers. Not to promote that particular brand, but to make those customers more interesting to others.

 

Brands have been telling their stories for decades now. Typically, in a mass-advertising, mass-branding world, the 'telling' has involved reaching (and impressing) as many consumers as possible. Those who literally bought into these storied brands then gained the respect and admiration of other brand-exposed consumers.

 

Example: if you're Jaguar, and your (expensive) story is about old money with a dollop of English eccentricity and the whole world is aware of this, then consumers craving recognition from anyone impressed with this kind of lifestyle only need to buy one of your cars to bask in the glow of their peers' admiration.

 

However, while well-known, storied and very visible STATUS SYMBOLS will dominate consumer societies for years to come, they will face increasing competition from STATUS STORIES:

 

 

STATUS STORIES are an answer to some of the major shifts and trends taking place in the consumption arena, from uniqueness, to visibility, to ‘alternative status sources'

 

 

STATUS STORIES are not:

 

• This is not about brands telling their story to the masses, but helping individuals to tell stories.
• This is not about buzz or word of mouth. We’re talking about consumers first and foremost telling stories about their experiences or purchases in order to get a status boost, not consumers recommending or badmouthing a brand. Word of mouth as a side effect will of course occur, but cannot be the primary goal when assisting or prepping customers with stories.
• STATUS STORIES will not replace STATUS SYMBOLS, but they will become increasingly important, and may compete with some of the more tired, mass status symbols.
• STATUS STORIES are not barred from becoming mass status symbols. Successful niche brands can of course still become big and well-known, eventually losing the need for STATUS STORIES and moving into more traditional branding spheres. From innocent drinks to Crocs.

 

 

 

Links

 

read more: www.trendwatching.com/trends/statusstories.htm

 

whole report from trendwatching:  2008_04_statusstories.pdf