Money Talks, But Stories Sell: The Hidden Power of Storytelling in Finance

What’s another name for a long-term investment?

A failed short-term investment.

It took me some time to find a good finance joke, but there it is.

The finance industry is obviously an important aspect of the business world. And it’s serious business. We all have finances or a lack of them to deal with every day.

That means when we are looking for a financial professional to help guide our monetary decisions, we want someone we trust. Someone who knows what they are doing. But how do we know that they know what they are doing?

It’s not just their spreadsheets, although they have their place.

Financial brands focus on trust, security, and data. These are essential for any customer to hand over their money. But trust isn’t built on numbers alone. It’s built through connection.

So yes, please tell us about our ROI, show us you understand the market and its functions. We’ll listen to every word – when we know we can trust you.

And that’s where storytelling comes in.

Storytelling doesn’t mean fairy tales. It’s a means of pulling the data and organizing it so it can be communicated in a relatable way.

Here are three ways storytelling captures data and makes it relatable.

1. Make complex ideas understandable. Easy to say, right? But what does that look like? It looks like a conversation without the jargon.
2. Build emotional trust.  If you’re in the finance biz, you know more financial decisions are made on emotion rather than logic. Show us we can trust your logic over our own emotions.
3. Humanize the brand. Set yourself apart from the numbers by telling a story.

Did you know Harvard studies show that people remember stories up to 22x more than facts? 22x!!

Studies also show that if you share a story, people are often more likely to be persuaded. “And when data and story are used together, audiences are moved both intellectually and emotionally.”

We’ll forget the latest financial report. But you better believe we remember how the founder started the firm – from his garage – with $200 and a dream.

Mini-Stories

The Wealth Advisor

Don’t say: “I manage portfolios.”

Say: “I help my clients sleep better at night knowing the financial future of their family is secure.”

The Accountant

Don’t say: “Let me file your taxes.”

Say: “I’ll make sure you keep more of what you earn – without the stress.”

You don’t have to start every meeting with a sob story. But “I used to overpay on taxes because I didn’t know better” is more relatable than “ We optimize your tax position.”

Phil Collins said it best: “We need to hear both sides of the story,” in his song Both Sides of the Story.

You know the numbers side. How can you tell the rest of the story?

• Share your WHY. Your customers should know why you are in the finance business. What drew you to it. What keeps you locked in. (Why will help you in more ways than you can count. Its power as a question is never-ending, but today, use it as a noun and own it.)
• Share (client-approved) client success stories.
• Share your personality. Not everything has to be business-related. Share a joke, your childhood dreams, or just a cup of coffee.

Finance is about the numbers. And the numbers are important to every individual, family, and business who walks through your door. But they are important because of what they mean for each – security, freedom, and peace of mind.

Storytelling bridges the gap.

So, before your next ad campaign, website refresh, or social media post, remember:

You’re not just in the finance business, you’re in the business of trust. And trust starts with a story.