The importance of storytelling with data for CFOs

Amid distractions, soundbites, and information overload, today’s finance leaders are expected to do more than recite and report the P&L: they need to present data through storytelling. Translating numbers into narratives helps stakeholders quickly understand what matters, why it matters, and what to do next. Numbers can inform logic, but they can get lost in a sea of pure data. Influence often hinges on emotional connection; studies have shown that almost always decision-making is rooted in emotion. And narratives are a way to build a rapport.    

Our newest CFO Insights offers a practical framework on how to employ storytelling in finance to produce an impact on even non-finance audiences. Deloitte has identified a storytelling structure called the Three Ts:

• Takeoff: Open with the most critical insight and tailor the hook to the audience (e.g., investors vs. employees vs. marketers); examples include leading with a provocative observation or promising the details of a lagging product launch while sharing changes that have been made.
• Turbulence: Interpret implications of financial findings—such as rising operational costs in certain geographies—by explaining what happened, margin impact, and what management is doing differently. Putting the numbers in the context of the company’s future trajectory can set the company apart from its competitors in the marketplace - and in the minds of the listeners. 
• Touchdown: Wrap up with a concluding message and a call to action, offering recommendations as to steps listeners can take.

To make stories stick, finance leadership can pair data with a compelling narrative, sharing the story behind the numbers: Whereas GenAI may help isolate and synthesize insights across reports and forecasts, leaders still should employ the Three Ds — Details, Dialogue, and Drama — to create vivid, credible moments people remember. The ability to distill complex financial data into an accessible and engaging narrative is likely to become a key differentiator for successful CFOs. By providing thoughtful framing, CFOs can humanize complex ideas and make it easy for their audience to act fast. 

Download the full report to learn how to implement financial storytelling with data and make a memorable impact.