Data-Driven Storytelling: What Can Fintechs Learn from Spotify Wrapped?

In today’s hyper-connected, information-saturated world, audiences crave authenticity, relevance and connection. Generic messages fail to stand out in this increasingly crowded environment. A powerful tool that is often overlooked is data-driven storytelling. Combining compelling narratives with proven sources of data not only cuts through the noise, but also increases credibility, provides clarity and informs an audience in a more inspiring and influential manner.

Data-driven storytelling is a powerful tool to establish trust, engage prospects and drive business growth. Stories captivate emotionally, while data appeals to the rational side of decision-makers. This combination is particularly effective in B2B contexts where decisions often involve multiple stakeholders. Compelling stories backed by data provide clear, evidence-based reasons for prospects to take the next step, whether that’s scheduling a demo, signing up for a trial or making a purchase.

One of the more well-known examples of data-driven storytelling is the annual Spotify Wrapped, a roundup of personal music highlights that presents data to each customer in a meaningful, more memorable manner. Spotify Wrapped neatly summarizes a customer’s streaming history for the last 12 months. The data is pretty straightforward; however, it is presented in a story format, highlighting unique attributes that are meaningful to each individual user. As a result, Spotify Wrapped is delivered to more than 400 million users each December and has quickly become a tradition music lovers anticipate each year.

Most fintech organizations have a plethora of data available including internal customer, sales or product usage data, proprietary data mined from an organization’s product offering or technology platform, survey results, public data available from third-party sources, external databases, customer interviews and more. When identifying which key data points to include in the narrative, the first step is to identify your target audience and then clearly define the key messages you want to convey to that audience. With your target audience in mind, focus on identifying data that is relevant and that directly supports the narrative you want to convey. When examining data, there are often patterns that emerge, trends that stand out or surprising insights that may help shape the narrative. It is important to ask questions such as, does the data highlight a specific challenge that is hindering the target audience; does it indicate a larger industry trend that will impact the audience; does it demonstrate a new opportunity for the audience that is being overlooked?

Storytelling presents a unique opportunity to transform traditional, often mundane data into a more engaging narrative that is much more likely to resonate with your target audience. Identifying meaningful insights and presenting them in a clear, compelling manner is key to effective data-driven storytelling. Contact WMA learn more about data-driven storytelling and other public relations strategies to stand out in a crowded market.