“In the information society in the last century the best product was winning, this century the best story is winning.” – Rolf Jensen
Rolf Jensen is the former CEO of the Copenhagen Institute for Future Studies, one of the world’s leading futurist think tanks.
In his book “The Dream Society” (2001) Jensen wrote about a farm in Denmark that is selling eggs at 75 cents each. That’s actually quite expensive for an egg, even in Denmark. Particularly since egg buyers have to walk down the yard to a cozy henhouse, and collect the eggs by themselves. And in case the hen is still sitting on it, they have to ask her politely to get up… Many of the consumers even want to know name of the chicken that laid the egg they will eat the next morning.
This is once again a great example of the power of a good story. It helps the farmer to sell his eggs for 75 cents instead of the usual 25. The investment he made in creating and presenting a story about the Good Life is probably close to zero, but its RoI is pretty huge –a premium of 200% above the average price is not a bad result at all.
By drawing his customers into the roost and making them part of this rural story, the poultryman is appealing to their emotion (“happy chickens must lay delicious eggs!”) instead of to their ratio (“why should I pay the triple of the market price for the same product?”)
Most of the people don’t even come –and pay– for the product, but rather for the experience. And they will probably take the story home with them, come back for more and bring their friends.
As I mentioned in one of my older blog posts about what business presenters can learn from B2C marketers: decision making is often emotion-based and value is in the eyes of the beholder.