Monetizing Data with Referrals with Nick Jordan founder of Narrative

The Scale Up Show

The founder of Narrative, Nick Jordan, joins Ryan in this episode. He talks about what made him enter the world of entrepreneurship after previously working at global tech companies Adobe and Yahoo. He then talks through his solution, why so many companies are missing out on the value of data right now and his highly-effective referral-based growth strategy.

KEY TAKEAWAYS

• Narrative has a mixed growth strategy. Focusing on both their enterprise sales team and referrals.
• Nick hadn’t always dreamt of starting his own company, he knew the work involved from watching his father create his own business. But 5 years ago, he wanted to fix the problems he had been seeing in data.
• Every company assumes they have enough data to be able to utilise it effectively to drive results. But this isn’t the case, they often have gaps in data sets and a lack of knowledge of how to make their data useful
• If you can get the right data at scale you can generate trust and a lifetime lifestyle brand.
• If you collect the right data you can look at supply chain optimisation and shopping basket analysis, using it to aid growth via ancillary products and add-ons.
• Narrative can often feel like a marketplace, they are ‘the pipes’ that make it easier for people to work together. This is what enabled their referral-based growth strategy; they work with both sides of the market.
• If you make things easier and more efficient for both sides of a marketplace, this means that they want to use your software outside of your marketplace to make other areas of their business easier too.
• Narrative’s solution allowed the smaller companies in the data world to get a much bigger market share, by putting all of their solutions together on one platform, one marketplace making it more appealing for buyers.

BEST MOMENTS

“Certainly, I’m not the only person with this problem…no one had fixed the problem in the way I wanted them to”

“People are often drowning in data and often the data they have isn’t efficient in solving the problem they want to solve”

“We’re starting to see people use data to actually source deal flow”

“Referral-led growth, the easiest way to cut through that is to have someone who already works with a company, so you need to be working with them”

Do You Want The Closing Secrets That Helped Close Over $125 Million in New Business for Free?" Grab them HERE: https://www.whalesellingsystem.com/closingsecrets

Ryan Staley

Founder and CEO

Whale Boss

312-848-7443

[e-mail]

www.ryanstaley.io

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