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How to build a business case: Six steps to advance your social initiative, presented by Kim Celestre
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Transcript of How to build a business case: Six steps to advance your social initiative, presented by Kim Celestre
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How to build a business case:Six steps to advance your social initiative
KIM CELESTREFORRESTER RESEARCH
SOCIALMEDIA.ORG/SUMMIT2013ORLANDODECEMBER 9–11, 2013
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Making Leaders Successful Every Day
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How To Build A Business Case Six Steps To Advance Your Social Initiative Kim Celestre, Senior Analyst December 9, 2013
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© 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.
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“The discontented man finds no easy chair.” – Benjamin Franklin
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You must build a business case
Advancement
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"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
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Source: Forrester May 2012 Report “Defining Social Intelligence”
1. Use data-driven insights
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“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
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2. Choose your objective
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The essence of strategy is choosing what not to do.” - Michael E. Porter
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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
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“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
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4. Enlist key stakeholders › Identify colleagues who will play a role
› Consider their unique concerns
› Engage with your CI and BT teams
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“There are risks and costs to action. But they are far less than the long range risks of comfortable inaction.” – John F. Kennedy
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5. Conduct a cost-benefit analysis
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“Business opportunities are like buses, there’s always another one coming.” – Richard Branson
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6. Commit to measurable outcomes › Identify the business goal that your initiative will
influence
› Tie your proposal to it
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“Before anything else, preparation is the key to success.” – Alexander Graham Bell
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© 2013 Forrester Research, Inc. Reproduction Prohibited
Source: Forrester’s October 31, 2013, “Get Approval To Fund Your Social Marketing Initiative” report.
Adobe builds a successful business case
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© 2013 Forrester Research, Inc. Reproduction Prohibited
Adobe builds a successful business case
Source: Forrester’s October 31, 2013, “Get Approval To Fund Your Social Marketing Initiative” report.
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“If you're presenting yourself with confidence, you can pull off pretty much anything.” – Katy Perry
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Before you present your case… › Educate your stakeholders
› Recruit key influencers to your cause
› Tailor your proposal to different perspectives
› Be prepared!
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Thank you Kim Celestre +1 650.581.3810 [email protected]
Follow me! @Kcelestre Blog: http://blogs.forrester.com/kim_celestre
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