How to get rich by telling stories

08/1/2013 | Harvard Business Review online

Worthless junk can turn into a valued commodity when it's accompanied by a compelling story, with one experiment finding that eBay buyers were willing to pay up to 2,700% more for bric-a-brac accompanied by a well-crafted story. That same principle applies to commercial products, too, Ty Montague writes. "In a world of almost overwhelming abundance, an authentic, meaning-rich story becomes the most important ingredient to drive a company's margins up," he writes.

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