Only a few of the marketers I interviewed received a green light from their CMOs to move forward with their social marketing proposals. How did they do it? They crafted a "winning" business case that included:
Real data. Our successful marketers included insights from sources such as listening platforms, marketing systems, and web analytics. Those that did not have data available turned to third-party research to fill the gaps. Without data, there is no platform to build the business case.
Key RaDaR objective(s). An effective business case identifies the key RaDaR objective that helps establish the purpose of your social program or initiative. It answers the questions: Are you trying to extend reach? Provide more depth on your brand and products? Develop relationships with your customers? All of the above?
A detailed strategy. A good business cases lists the social marketing tactics that will be implemented. A great business case provides a detailed action plan that will help achieve the stated RaDaR objectives.
Key stakeholders. Stakeholders are the pillars that support the entire business case. They are critical to the outcome of the social marketing proposal. Successful marketers never underestimate the influence of key stakeholders and always involve them in the process of creating their business case
Cost/benefits analysis. Effective business cases include a quantitative and/or qualitative analysis that determines the costs, benefits, and risks involved with implementing or not implementing the proposal.
Impact to business outcomes. Every business case should clearly articulate the impact the proposed program will have on business outcomes. Will the proposed social marketing initiative help the company meet its revenue goals through increased leads? Will it help a cost-control goal through support-call deflection? Will it contribute to a rebranding strategy through positive brand sentiment?
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