![]() ![]() For instance, they can argue that the increase is due to the entrance of a new, strong competitor into the market. They may even come up with alternative explanations for the increase in your churn rate. If you don’t draw out the narrative, the audience won’t understand that the churning companies are mostly small businesses, they won’t directly see how the timing on the graph corresponds to the change in your pricing strategy. Think of a graph of your increasing churn rate and decreasing revenue. Let’s continue with the same example to show how this is the case. This is because visuals alone cannot explain the characters, setting, conflict and resolution if they’re not coupled with narratives. ![]() Visualization is an essential aspect of data storytelling, but it’s just one element in the process. Image from InfoCepts Is data storytelling the same thing as data visualization?Īs I’ve implied, the short answer is no. Maybe you could, but your job would be much more challenging because visuals can’t replace storytelling. What do you think should be done to fix the issue? Do you think you should return to the previous strategy or try another new one? Which trends in data make you think the way you do? These questions will outline the plan you will follow in the upcoming months.Ĭouldn’t I have done all this with a single graph? you may ask. For instance, what was company X, a startup that has recently churned, saying on its churn survey? How did the new pricing affect their budget? These questions help zoom in on individual characters in your story.įinally, you’re ready to come to the happily-ever-after part of your story: the resolution. While such holistic views are helpful, it’s also beneficial to look at individual reasons and motivations behind the conflict. In this case, you can use a monthly churned revenue graph to show that the change in your pricing strategy is doing more harm than good. To emphasize the importance and urgency of the matter, you should use visual elements such as graphs and charts. Now comes the conflict: you’ve made a change in your pricing strategy, and it’s causing you to lose a part of your customer base. This way, your audience can start seeing the association between company size and churn. To depict the characters, you can name some of the companies that have churned, put forward their customer profiles and talk about what they have in common. The characters involved are small companies, startups, and of course, your business. The story takes place in the first quarter when the upward trend started. So, you decide to show the importance of this trend and its meaning via storytelling. Without the key elements above, you wouldn’t sound as convincing. Now, if you had taken the churn graph to a meeting and said that you need to change your pricing strategy once again, your audience would naturally ask you why. The upwards trend in your churn rates started when you changed your pricing strategy from tiered to usage-based. Careful analysis showed that the churning companies are small companies and startups with limited budgets. Say that your company has seen an increase in its churn rates. Let’s analyze an example to see these elements at play.
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