Yesterday, I took part in an event called the Impact Lab which was hosted by UBC Global Lounge. There, Vanessa Chase, the founder of  Philanthropy for All, focused her speech on the importance of storytelling in terms of crowdfunding. After this event, I feel that storytelling is truly about communicating value propositions to your target audience sincerely and dramatically. It is about drawing a beautiful and genuine picture of the future of your business in your audience’s mind. When people can relate to your story and see the value of your business, they will do things to help.

A case study posted on the Globe and Mail can better explain the importance of storytelling. In this case, Energy Aware Technology Inc., a small business located in BC, has reached its 30-day fundraising goal for its new product “Neurio” in just two weeks using crowdfunding on Kickstarter. It is important to note that usually half of the projects on Kickstarter will not get funded. However, Energy Aware successfully “beat the Kickstarter odds” by telling good stories—before their Kickstarter launch, they shared their brand story through niche bloggers, and made sure that “the timing of these outreach activities was meticulously planned to achieve maximum impact”.  Good storytelling has  helped Neurio market its value, and has become a catalyst for Energy Aware’s fund raising.

Reference:

Cubbon, Paul. “How a B.C. Tech Company Beat the Kickstarter OddsAdd to …” The Globe and Mail. N.p., 08 Nov. 2013. Web. 11 Nov. 2013.

Chase, Vanessa. “What Is a Story and Why You Need To Tell Them.” Philanthropy For All. N.p., 30 Oct. 2012. Web. 11 Nov. 2013.

Chase, Vanessa. “Meet Vanessa Chase.” Philanthropy For All. N.p., n.d. Web. 11 Nov. 2013.