Harnessing the Power of Data-Driven Storytelling: 3 Tips to Bring Data to Life

Driving brand awareness has become increasingly competitive across the financial media landscape as firms vie for a place in the press. Breaking through the noise has become more difficult, especially on crowded topics. This sheds light on the power of having data to differentiate a company – and the stories it wants to tell – from its competitors.

In fact, did you know that readers are 78% more likely to trust an article when a source quotes relevant data points? I made that up, but it got your attention, didn’t it?!

At Prosek, the power of data-driven storytelling is continually instrumental in helping position our clients as go-to sources for the media and true thought leaders driving the conversation on topics that tie back to their businesses’ core offerings.

Here are three key strategies that can help differentiate your brand among reporters by harnessing the power of data:

1. Identify the Whitespace

Narrowing in on a topic that is not heavily discussed by industry competitors is a smart way to reach target audiences, as well as highlight your company’s niche expertise and thought leadership in the space.

For example, demand for alternative investing opportunities is increasingly growing among many wealth management clients and broad investors. At Prosek, some of our clients are seizing on this emerging trend and taking advantage of this opportunity to fill the gap—or white space—by shedding light on the specific challenges investors and advisors face when looking to enter the private markets space through alternative investing. Importantly, they’re using concrete data and research as proof points.

The impact is two-fold: first, they’re underscoring their reputations as credible, go-to sources for key reporters and helping reporters tell compelling stories. Second, by strengthening their positions as thought leaders in this more niche space, they’re distinguishing themselves as knowledgeable resources for current and prospective clients, as well as great companies for top talent who want to work for a business that’s leading the charge in a specific space.

2. Uncover Unique Data Points

Statements that challenge common assumptions, break the norm or offer a fresh perspective are often far more engaging than rehashing common knowledge. (Saying that 9 in 10 people enjoy receiving free pizza at work, for example, isn’t an especially new or compelling data point!) Data can play a pivotal role in uncovering these unexpected viewpoints and counterintuitive insights that can help fuel eye-catching headlines. Moreover, reporters want to write about things that are novel—they want to cover true news. By uncovering something that’s surprising, rather than sharing data that speaks to the status quo, you’re helping them tell a story that’s fresh.

To ensure that you have interesting data that will help reporters build a story, it’s important to remember that there are two key steps to achieving this: 1) crafting strategic questions/hypotheses before research is conducted, and 2) analyzing the research after the fact.

For example, let’s say you’re working on a survey. The questions you decide to ask are just as important as looking at respondents’ answers. Run-of-the-mill questions will yield equally unremarkable results. The more creative the questions (within reason, of course), the more likely you are to see responses that might surprise you, reporters and (hopefully) the readers of the excellent pieces that are written about said survey.

3. Anticipate Timely News Hooks & Build Data Around It

Tapping into seasonal hooks and moments in time allows us to ‘hook’ reporters and answer the question: “Why should I write this story now?” Latching onto these news hooks—such as back-to-school-season, the holiday season or National 401(k) Day—can be a powerful PR tool, as content around timely moments often resonates more deeply with audiences. At the same time, the increase in media coverage tied to these seasonal hooks makes it more challenging to stand out, underscoring the need for data to capture and keep attention.

For example, lately, the media has been laser-focused on the 2024 Presidential election. Given the sensitivities around commenting on the election, data-driven storytelling can help clients insert their voices into the news cycle in a neutral, objective way on topics such as investing in an election cycle—without commenting on parties or platforms. In anticipation for a robust news cycle leading up to the election, it poses an opportunity to commission data that speaks to the historical market performance and key trends during previous elections in advance of these discussions, making you well-positioned to provide reporters with data-backed investment advice on a sensitive subject.

The result? You can maximize visibility on a crowded topic, while serving as a go-to source for reporters’ continued coverage throughout the election cycle.

The Takeaway

In this competitive media landscape, bringing data to the forefront of media outreach can help generate meaningful coverage, foster strong media relationships and deliver impact on business growth.