StoryVesting
StoryVesting is a business framework designed to guide organizations through phases of the enterprise life cycle, which consists of incorporating new business processes, technology, and capabilities, as well as maintenance, disposition, and disposal of existing elements throughout a business.[1]
Overview[edit]
The StoryVesting framework was developed based on aspects of behavioral economics, such as the theory of intertemporal choice, and various principles of psychology such as the Law of Effect (developed by Edward Thorndike), studies of classical conditioning done by Ivan Pavlov as well as B. F. Skinner, and implicit association studies by Anthony Greenwald, Debbie McGhee, and Jordan Schwartz. Other aspects that contributed to the development of the StoryVesting framework include research based on motivational theory, cognitive psychology, and business psychology.
The framework visually consists of two circles, each with a set of six (6) concentric circles.
Each concentric circle consists of six (6) layers.
Brand Experience Framework[edit]
The concentric circle on the left represents the brand experience offered by a business to its customers. Brand experience elements include:
- The Business Why
- The Business Model
- 3 Ps
- Products and Services
- Channels
- Experience
Customer Experience Framework[edit]
The concentric circle on the right represents the customer experience along the path-to-purchase. Elements of the customer experience framework include:
- Emotional Triggers:
- Logical Triggers
- Emotional-Logical Triggers
This portion of the framework categorizes stages of the buyer journey sequentially into these three types of emotional or logical triggers experienced by consumers.
Framework Alignment[edit]
The StoryVesting methodology centers around the horizontal alignment of the two circles representing the brand experience and the customer experience.
Some of the key performance indicators (KPIs) affected by aligning the brand experience and the customer experience include but are not limited to: customer satisfaction scores, net promoter scores, or customer effort scores.
History[edit]
The StoryVesting framework was first developed by Eslee Buckley Barlow in 2007.[2]
People who influenced StoryVesting:
- Karen and Jon Huntsman Sr. of Huntsman Corporation
- James LeVoy Sorenson of Sorenson Medical
- Herb Kelleher of Southwest Airlines
- Eric Smith of iBAHN
- J. Willard Marriott of Marriott Corporation
- Eric Schmidt of Google
- Chris Seegmiller of Miche Bag
- Gene England of C.R. England Inc.
Influences on Framework Creation[edit]
Personal Influences:[edit]
People who influenced StoryVesting:
- Karen and Jon Huntsman Sr. of Huntsman Corporation
- James LeVoy Sorenson of Sorenson Medical
- Herb Kelleher of Southwest Airlines
- Eric Smith of iBAHN
- J. Willard Marriott of Marriott Corporation
- Eric Schmidt of Google
- Chris Seegmiller of Miche Bag
- Gene England of C.R. England Inc.
Psychological influences:[edit]
The StoryVesting Framework integrates psychological considerations into practices of business transformation. To do so, it relies heavily on findings of psychological studies such as:
- Jane Elliott’s study, A Class Divided, run in 1984 in which discriminatory behavior was displayed in students who were given superiority over other classmates.[3]
- The Asch conformity experiments run in 1951, which measured the likelihood of conformity within groups.[4]
- The Bobo doll experiment facilitated by Dr. Albert Bandura in 1961 and 1963 analyzed children’s learned behavior and social imitation based on the examples of adults.[5]
- Research conducted by Elizabeth Loftus and John Palmer in 1974 at the University of California Irvine which tested how malleable memories can be.[6]
- Leon Festinger and Merrill Carlsmith's study on forced compliance theory and cognitive dissonance.[7]
- Henry Landsberger’s work in 1955 documenting the Hawthorne effect, or a person’s tendency to change their behavior due to an awareness that they are being studied.
- George Miller’s theory referred to as The Magical Number Seven, or “Miller’s Law” developed in 1954 as part of a study that found that human memory can only hold 7 (plus or minus 2) objects in their working memory at any given time.[8]
- The Invisible Gorilla Test conducted by Daniel Simons and Christopher Chabris in 1999 studied selective attention or inattentional blindness.[9]
References[edit]
- ↑ "A Practical Guide to Federal Enterprise Architecture" (PDF). Chief Information Officer Council. February 2001.
- ↑ "CL163: Why Marketing Starts With A Story - Interview with Buckley Barlow". 16 March 2018.
- ↑ "A Class Divided". Public Broadcast System. 25 March 1985.
- ↑ "Conformity in the Asch Experiment". Journal of Social Psychology. 11 September 1973.
- ↑ "Bobo Doll Experiment". Encyclopedia Britannica.
- ↑ "Reconstruction of Automobile Destruction: An Example of Interaction Between Language and Memory". Journal of Verbal Learning and Verbal Behavior. October 1974.
- ↑ "Cognitive Consequences of Forced Compliance" (PDF). Journal of Abnormal and Social Psychology. 1959.
- ↑ "The Magical Number Seven, Plus or Minus Two: Some Limits on our Capacity for Processing Information". Psychological Review. 1956.
- ↑ "Gorillas in our midst: sustained inattentional blindness for dynamic events" (PDF). Department of Psychology, Harvard University. 9 May 1999.
This article "StoryVesting" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:StoryVesting. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
