How to Make a Business Case for #Socialmedia Gain Social Media ROI with Crimson-Hexagon

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Often times creating a business case for any initiative - whether it is a social media initiative or a traditional business endeavor can be difficult. This slide deck walks you through the steps to make a business case in 4 steps so you can get the funding you need when you present your idea to your senior leadership team.

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How to Make a Business Case for #Socialmedia Gain Social Media ROI with Crimson-Hexagon

  1. 1. How  To  Make    A  Business  Case    for  Social  Media        Dr.  Natalie  L.  Petouhoff   @drnatalie   www.DrNatalieNews.com  
  2. 2. We  are  going  to  explore  the  4  KEY  Steps  to   Making  a  Business  Case   Step  1:  Define  Business  Benefits  &  Social  Strategy       – Start  with  one  simple  sentence   – Determine  ways  that  social  analysis  would  help   – Do  the  math  with  help  from  department  heads   Step  2:  Examine  Project  Benefits,  Costs  and  ROI   Step  3:  Determine  AddiIonal  Benefits   Step  4:  Define  Risks  and  UncertainIes   Using  A  Business  Case  Template:  
  3. 3. >3.5  Billion  pieces  of  content    Shared  /  Week     By  2020  à  450  Billion  business  transacIons  /  day   How  can  we  make  sense  of  all  this?  
  4. 4. People are Acting on Content
  5. 5.   Aren’t  the  Benefits  obvious?   CLEARLY,     PEOPLE  ARE  SHARING  MORE  THAN  EVER       SOCIAL  IS  HERE  TO  STAY.       SO  WHY  DO  WE  NEED  A  BUSINESS  CASE   FOR  THE  INVESTMENT  IN   SOCIAL  MEDIA  ANALYSIS?    
  6. 6. •  The first 2 phases driven by Innovators & Early Adopters •  They don’t need business cases to adopt something WHAT’S SHIFTING THE NEED FOR A SOCIAL MEDIA BUSINESS CASE? We’re in the “third wave” of social media. 6
  7. 7. The  Third  Wave  is  Dominated  by  The  Early   Majority  Who  Are  PragmaMsts  –     •  They  want  proof   •  Love  business  cases  
  8. 8. –  Now  deep  insights  are  needed   –  Based  on  proprietary  market  research  technology  to:   •  Know  More   •  Know  Why   •  Know  How   Social  Media  Analysis  has  Evolved    
  9. 9. To  make  sound  business  decisions…   Businesses  need  deep  insights  to  drive  business  acIons   –  Who’s  talking  about  the  brand?   –  What’s  being  said  about  the  products  &  services?   –  How  are  those  online  and  offline  conversaIons  between   customers  affecIng  the  business?   –  What  can  the  business  learn  from  these  conversaIons?   –  What  can  the  business  learn  from  monitoring  their   compeIIon?  
  10. 10. The Business Case Creation Process:

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