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

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In her Brands-Only Summit presentation, Forrester Research's Senior Analyst, Kim Celestre, explains how to build a business case that will advance your social marketing initiatives.

Using insights from marketer interviews and surveys, she outlines six steps that will help get you a green light from your CMO.

Published in: Social Media, Business, Technology
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How to build a business case: Six steps to advance your social initiative, presented by Kim Celestre

  1. 1. How to build a business case: Six steps to advance your social initiative KIM CELESTRE FORRESTER RESEARCH SOCIALMEDIA.ORG/SUMMIT2013ORLANDODECEMBER 9–11, 2013
  2. 2. Making Leaders Successful Every Day
  3. 3. How To Build A Business Case Six Steps To Advance Your Social Initiative Kim Celestre, Senior Analyst December 9, 2013
  4. 4. © 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.
  5. 5. “The discontented man finds no easy chair.” – Benjamin Franklin
  6. 6. © 2013 Forrester Research, Inc. Reproduction Prohibited 5 You must build a business case Advancement
  7. 7. "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
  8. 8. © 2013 Forrester Research, Inc. Reproduction Prohibited 7 Source: Forrester May 2012 Report “Defining Social Intelligence” 1. Use data-driven insights
  9. 9. “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
  10. 10. © 2013 Forrester Research, Inc. Reproduction Prohibited 9 2. Choose your objective
  11. 11. The essence of strategy is choosing what not to do.” - Michael E. Porter
  12. 12. © 2013 Forrester Research, Inc. Reproduction Prohibited 11 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
  13. 13. “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
  14. 14. © 2013 Forrester Research, Inc. Reproduction Prohibited 13 4. Enlist key stakeholders › Identify colleagues who will play a role › Consider their unique concerns › Engage with your CI and BT teams
  15. 15. “There are risks and costs to action. But they are far less than the long range risks of comfortable inaction.” – John F. Kennedy
  16. 16. © 2013 Forrester Research, Inc. Reproduction Prohibited 15 5. Conduct a cost-benefit analysis
  17. 17. “Business opportunities are like buses, there’s always another one coming.” – Richard Branson
  18. 18. © 2013 Forrester Research, Inc. Reproduction Prohibited 17 6. Commit to measurable outcomes › Identify the business goal that your initiative will influence › Tie your proposal to it
  19. 19. “Before anything else, preparation is the key to success.” – Alexander Graham Bell
  20. 20. © 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
  21. 21. © 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.
  22. 22. “If you're presenting yourself with confidence, you can pull off pretty much anything.” – Katy Perry
  23. 23. © 2013 Forrester Research, Inc. Reproduction Prohibited 22 Before you present your case… › Educate your stakeholders › Recruit key influencers to your cause › Tailor your proposal to different perspectives › Be prepared!
  24. 24. Thank you Kim Celestre +1 650.581.3810 kcelestre@forrester.com Follow me! @Kcelestre Blog: http://blogs.forrester.com/kim_celestre
  25. 25. SOCIALMEDIA.ORG/SUMMIT2013ORLANDO Learn more about past and upcoming events DECEMBER 9–11, 2013 SOCIALMEDIA.ORG/EVENTS

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