What the world’s fastest growing businesses do with their data that you - almost certainly - don’t

Are you struggling to make your voice heard against your competitors, who always seem to do a better job than you at attracting and retaining their customers’ attention?

In a business environment drowning in too much information, do you find the benefits of your product or service too often get stuck in the weeds of the data?

Would you like to know the secret of how to engage with your customers and prospects with genuine impact?

What sets the world’s fastest-growing businesses apart from the also-rans is in how they use the data in their organisations to inform decision-making and to shape communication. The world’s most successful companies are also the best at moving from data to insight and from insight to action. By combining narrative and numbers, stories and statistics in a human and empathetic fashion – and in a way that respects the data tolerance of those they’re looking to move to action – they show themselves to be brilliant data storytellers.

Companies like Netflix, IDEO, and Amazon; organisations including Google, easyJet, and Great Ormond Street Hospital. (Send me a DM for case histories).

Why data holds the key to unlocking increased sales and customer relationships

The data that your business generates creates the raw material you need to describe how your products or services can make life better for your customers. From inspiring case studies to financial impact, from increased productivity to better efficiency, the data you already gather is a potential goldmine that can turn what you already know into a steady stream of stories to turbo-charge your evidence-based selling.

You see, to build a truly compelling narrative, you need to combine the emotional (narrative) with the rational (numbers). For too long too many companies have taken either the ‘arts’ (story) or the ‘sciences’ (statistics) approach to storytelling when the truth is, a truly-impactful narrative needs both. And it works because, as behavioural science has shown conclusively, we make our decisions emotionally and then we go on to justify them rationally.

?

Five steps to sales success

Those companies that understand how to make effective use of data in their storytelling – if they are clear, fair, and never misleading in how they use numbers in the narratives – truly do set themselves up for commercial success. Telling a simple, straightforward, data-driven narrative wins in the following five ways.

1. YOU SAVE TIME – AND MONEY: if you explain your proposition clearly and simply, your sales and customer success teams will spend less time talking to confused customers. Customers will ‘get’ why your products and services are (and, indeed, aren’t) right for them and will appreciate the time you’ve spent making this clear.

2. YOU GENERATE MORE REVENUE: when a product or service is easier to understand – including the data-driven rationale underpinning the emotional appeal – it’s easier to buy. It’s also easier for existing customers to go on to become product advocates for you, part of a volunteer salesforce.

3. YOU INCREASE THREE, KEY BRAND ATTRIBUTES: customers know, like, and – crucially – trust you more. If you’re a credit card company and you’re transparent about your APR, say, customers will know where they stand and how much they’ll be paying back each month.

4. YOU BUILD LONGER RELATIONSHIPS: maximising customer retention (and minimising churn) is a hugely cost-effective way to drive success. By using data smarter in your communication, you hold onto customers for longer and increase the lifetime value of each contract. So much easier to sell another one of the same products and services – or a shiny new one – to someone who already knows, likes, and trusts you.

5. YOU ENHANCE YOUR REPUTATION: plain-speaking businesses that are open and honest in how they use data in their storytelling become known for being no-nonsense partners who are great to do business with. Your customers will talk to their competitors and peers, the media and influencers about you, and you’ll find your sales team fielding more calls and emails than they send.

?

Weaponizing what’s already yours

Every business generates and collects data. Those that are thriving in the age of Big Data have realised that it’s their data – often combined with third-party data and other, publicly-available data sources, too – that hold the key to building the most powerful, persuasive narratives. Narratives that help them sell more, more often, more effectively and efficiently – provided the data never dominates or overwhelms, provided it’s used with humanity and empathy. These are the skills of the data storyteller.

There are two things I suggest you do next.

The first is to complete our data storytelling scorecard. This will tell you what kind of data storyteller you are. 12 questions, easy to complete in just a couple of minutes, and we’ll send you your own, personalised report, highlighting what you’re doing well already and where you could improve. Follow this link or click on the image below.

And the second is to check out our comprehensive, online course in effective data storytelling, Using Data Smarter. Again, follow this link or click on the image immediately beneath.

In-person training

At the start of this week, I was back at Publicis Groupe to deliver the third of four sets of insight and data storytelling training sessions this year. Such an excellent group of participants from right across Publicis agencies, from Publicis Media to BBH London , from Performics to Starcom , from Spark Foundry to 实力传播 .

Thanks again so much to Anika Gohil , Vidhyaa Barathan , Maariyah S. and the team for having me. And brilliant to be connected now to Martina Buoni in plotting and planning the new heights we can scale in 2025, with new courses and L&D extensions.

Really great also to be working with Joyce Ella Dodd on a really fascinating opportunity on the global level, too. This truly is a great partnership.

Thanks again to the Market Research Society (MRS) for another opportunity to run my ever-popular data storytelling training for members as comparatively recently as yesterday. Before the end of the year, I’m running the half-day version via of the same material the PUBLIC RELATIONS COMMUNICATIONS ASSOCIATION LIMITED . It takes place on 7 November, and there are still some spaces available over there.

?

The Data Malarkey podcast

Data Malarkey – the podcast about using data, smarter – returned in the middle of last month with Season Six (already? Yup!). Guests this season come from the worlds of publishing, numeracy, neuroscience in marketing, political punditry, the law, and graphic design. That’ll see us nicely through to Christmas.

Season Six kicked off with a great interview with Ylann Schemm , Vice President of Corporate Responsibility at 爱思唯尔 and Director of the The Elsevier Foundation . Ylann talks with great passion about how the company and the Foundation have been using data and AI smarter for many years to tip the balance on gender equity in research. It’s an inspiring episode. And last week, we were joined by Mike Ellicock , CEO and Founder of Plain Numbers , a UK-based company empowering businesses to explain their data to customers clearly, fairly, and in ways that are never misleading.

October’s guests include Cristina de Balanzo, Ph.D. , the powerhouse founder of Walnut Unlimited , followed by a real treat for political junkies – none other than Sir John Curtice, professor of politics from the 英国斯特拉斯克莱德大学 . Anyone who’s watched the BBC’s Election Night coverage since 1979 will know John. Quite simply one of the world’s finest and most nimble data storytellers, this episode promises to be a real treat.

As ever, any suggestions for guests – if you think you’d make a good guest or you know or work with someone who’d tell a great story about how they make smarter use of data – drop us an email at [email protected] or complete the simple application form at https://www.usingdatasmarter.com/guest

You can get straight there by clicking the image below.

Your feedback matters

Do let us know what you think of the Data Malarkey Newsletter at [email protected]

We’ll be back with issue 18 on Friday 1 November. See you back here then.