How to build a business case: Six steps to advance your social initiative, presented by Kim Celestre

How to build a business case:Six steps to advance your social initiative

KIM CELESTREFORRESTER RESEARCH

SOCIALMEDIA.ORG/SUMMIT2013ORLANDODECEMBER 9–11, 2013

Making Leaders Successful Every Day

How To Build A Business Case Six Steps To Advance Your Social Initiative Kim Celestre, Senior Analyst December 9, 2013

© 2013 Forrester Research, Inc. Reproduction Prohibited

The marketer’s conundrum

Source: Forrester’s October 31, 2013, “Get Approval To Fund Your Social Marketing Initiative” report.

“The discontented man finds no easy chair.” – Benjamin Franklin

© 2013 Forrester Research, Inc. Reproduction Prohibited 5

You must build a business case

Advancement

"If you don't take time to build your case on data that describes the opportunity, stakeholder value, and benefits, then you will be treading water.” – Maria Poveromo, Adobe


Source: Forrester May 2012 Report “Defining Social Intelligence”

1. Use data-driven insights

“If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.” - Henry David Thoreau, Walden


2. Choose your objective

The essence of strategy is choosing what not to do.” - Michael E. Porter


3. Set a strategy › To meet a Reach objective

• Implement social advertising and word of mouth

› To meet a Depth objective • Embed social tools and content on your site

› To meet a Relationship objective • Create branded profiles on social networks

“I have a duty to the people who believe in my dream, the people who work with me with passion and honesty to make that dream come true.” - Charlene May


4. Enlist key stakeholders › Identify colleagues who will play a role

› Consider their unique concerns

› Engage with your CI and BT teams

“There are risks and costs to action. But they are far less than the long range risks of comfortable inaction.” – John F. Kennedy


5. Conduct a cost-benefit analysis

“Business opportunities are like buses, there’s always another one coming.” – Richard Branson


6. Commit to measurable outcomes › Identify the business goal that your initiative will

influence

› Tie your proposal to it

“Before anything else, preparation is the key to success.” – Alexander Graham Bell



Adobe builds a successful business case


Adobe builds a successful business case


“If you're presenting yourself with confidence, you can pull off pretty much anything.” – Katy Perry


Before you present your case… › Educate your stakeholders

› Recruit key influencers to your cause

› Tailor your proposal to different perspectives

› Be prepared!

Thank you Kim Celestre +1 650.581.3810 [email protected]

Follow me! @Kcelestre Blog: http://blogs.forrester.com/kim_celestre

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How to build a business case: Six steps to advance your social initiative, presented by Kim Celestre