… or how to sell $128.74 worth of thrift-store junk to ecstatic customers who are willing to pay $3,612.51, or 28X the original cost!
by “Stories are such a powerful driver of emotional value that their effect on any given object’s subjective value can actually be measured objectively.” — Joshua Glenn and Rob Walker
Storytelling predates writing and is a vital pillar for a culture to channel knowledge, convey meaning, and entertain while establishing a framework for common beliefs, values, and codes of conduct. If you want to understand a culture, look to its stories.
Through evolution, the human brain is especially well adapted to interpret, comprehend, recall, and repeat stories. Do you want someone to remember a set of facts? Embed them in story form. Beyond this, stories can engage all of our senses, creating a much richer experience for us than a boring set of facts ever could. We are thus transported to another state of mind, one in which we can find deep meaning in the story being told.
In 2009, Joshua Glenn and Rob Walker launched the site significantobjects.com as “a literary and anthropological experiment” into the power of story-telling to quantifiably increase the value of an object, or in the experimenter’s words, “narrative transforms insignificant objects into significant ones.”
The experimenters went to second-hand stores and garage sales to purchase what many of us would call knickknacks. The items would typically be bought for less than a couple of dollars each. They then teamed up with a writer to create a fictional story about the object, which was then listed for sale on eBay ALONG WITH ITS NEW STORY. (The researchers exercised caution to ensure buyers did not think the story was true.)
The results were truly astonishing!
The results were truly astonishing! The experimenters proved the power of storytelling to transform an everyday item into a “Significant Object.” On the whole, they took $128.74 worth of knickknacks and junk and sold it on eBay for $3,612.51. An increase in value of 28X! As an example, take a look at the egg whisk above. It was purchased for only 25 cents, but when storified and then sold on eBay it fetched a whopping $30!! An increase in value of 120X!!
By infusing your brand with stories, you will significantly enhance its value and appeal.
