I was reading an article this morning that IMHO was way off base – presenting some pretty inaccurate conclusions based on standard financial reporting numbers. I was just plain flabbergasted to see the conclusions that were drawn. And published right there on the web – with some credibility!
To be fair, I don’t think the person writing the article was trying to misrepresent anything. I just think he used the numbers to make his points without fully understanding the numbers. And his conclusions were pretty shaky, at best. I commented back to BNET, so I won’t go into the gory details here.***
What I want to emphasize is the importance of understanding your numbers – and of spinning them to support your points in a reasonable and logical fashion.
Quantitative evidence can be a great boon to companies. They prove the points we want to make. But they can also shoot our credibility in the foot – or even worse.
My keys to evidencing with numbers are simple – be accurate, be logical and tell a story that makes sense.
- Accuracy Matters. Especially in this business. There is always someone in your audience ready to play ‘stump the chump’ with you and your stories. We all know the kind – someone who knows more than everyone and is just waiting to prove it. The fastest way to shoot down your Phoenix is to use numbers that are inaccurate, or to inaccurately use the correct numbers (as in the case with the article above). Be accurate, be knowledgeable or don’t use the numbers. You’ll just give that guy in your audience the bullet he needs to shoot you down.
- Be Logical. If you’re going to use numbers, whether they are yours, the analysts, some market study’s – show the audience the logic you used to draw your conclusions. Logic is the thread that weaves your quantitative evidence together. When your logic is solid and your audience accepts it as trusted expertise – you gain credibility. When you throw out SWAG assumptions or just plain inaccurate logic – well, you better duck that next bullet.
- Tell Stories. Numbers are the foundation for great stories. For example, I use company growth numbers to tell stories of leadership – even when the growth may not be at the top line and/or company-wide. For example, let’s say your overall revenue has declined. But look at that new sector – the one that you just dipped your corporate toe into. You’ve grown sales by 10x and have some nice customer names to show for it. <NOTE: Sounds like a Phoenix to me!> That evidence shows the success of your transition in a tangible way. Use it to weave your leadership story – the value you bring, the success you’re finding – and the customers who make it so. BTW – that market is your most likely next destination!
Numbers are one of the best marketing tools we have. Using them in an accurate and informed way can go a long way in gaining customer credibility as a thoughtful and trusted expert.
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If you care to see what started me thinking, you can check things out for yourself. Here’s the article I’m talking about at BNET: Examining Microsoft and Apple’s Marketing Spend
