How many digits of Pi do you remember?
How many digits of Pi do you use?!
The math constant π (Pi) has an approximate value of: 3.141592653589793238462643383279502884197…
For many calculations we round this down to 3.14, but for a quick estimate of a circle’s circumference or area we simply use 3. Why? Because the single digit is much easier to remember and use!
In our doctor-patient interactions example (see previous posts below), the actual first-year net gain was $11,738,000. This is the correct number, but it is hard to remember (try saying it rapidly several times…!).
$11.7 million is quite a bit easier and saying ~$12 million is even more so.
Along similar lines, if you found that your prospect could redeploy 5.27 FTE to other, more productive tasks, you have several choices of what to communicate:
· 5.27 is the exact number and is generally what you should use in detailed cost-benefit calculations.
· 5.25 (or 5¼) is easier to articulate and grasp.
· Rounding down to 5 is the simplest form and represents a safe, conservative approach.
In most situations, simple numbers are the recommended approach. However, there may be situations where the impact of a very specific number is particularly memorable and effective.
For example, in a study of demo effectiveness, the authors analyzed 67,149 demo recordings. When presenting the results of the study, saying the precise number of 67,149 appeared to have more impact than rounding it down to “about sixty-seven thousand.”
Bonus: For a terrific book on communicating numbers, read Making Numbers Count by Chip Heath and Karl Starr. Many of the ideas in this series of posts are drawn from their work.
Double Bonus: Chip and his brother Dan also wrote that seminal book on storytelling, Made to Stick, which should be required reading for all customer-facing folks!
And here are the other posts in this series so far – enjoy!
https://greatdemo.com/calculating-value-numbers-you-should-know/
https://greatdemo.com/which-vendor-statement-has-more-impact/
https://greatdemo.com/arithmancy-the-magic-of-numbers/
https://greatdemo.com/making-monetary-numbers-tangible/
https://greatdemo.com/value-statements-need-to-align-with-job-title/
https://greatdemo.com/annualize-your-value-statements/
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