The ROI of business storytelling
Storytelling has a 28.06 times return on investment!
A few weeks ago, I was asked by someone in a large media house looking at commissioning a storytelling project, “What would be the ROI (return on investment)?" Even though I had in my own mind anticipated such a question over many projects I had done, I don’t think I was necessarily prepared with a convincing answer. I asked instead, “How do you, in your organization calculate the ROI of, say, a strategy workshop, of an annual conference or indeed any exercise involving human beings and several other variables?" I went on to say that we do identify impact measures like perception change, change in engagement levels, etc., but I had no clue about how to quantify them in rupees.