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Social Media Business Case social services

Social Media Business Case social services - Social Media...

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Unformatted text preview: Social Media Business Case Template Purpose The purpose of this tool is to help you design a Business Case for an investment in a Social Media program. A Business Case is a formal management communication document to justify and plan a project or investment by providing an opportunity overview, key success factors, assumptions & decision -making criterion, business impact analysis, sensitivity analysis, risks, contingency plans, and action -oriented recommendations. How to Use this Template Complete the following sections with your project team and/or stakeholders. Cut & paste this information into a document that reflects your corporate image, and deliver your Business Case to senior executives to sponsor the project. Title Page [Insert Company Name or Logo] Business Case – (insert project title) [Insert Completion Date] Completed By: [Insert Project Manager Name] Completed For: [Insert Project Sponsor Name] Table of Contents Page 1. Executive Summary 3 1.1 What Problem does this Social Media Business Case Solve? 2. Opportunity Overview & Key Success Factors 2.1 2.2 2.3 2.4 2.5 Opportunity Overview Project Purpose Project Scope Project Schedule Key Success Factors 3. Assumptions & Decision-Making Criterion 3.1 3.2 3.3 3.4 3 6 Assumptions Use-case Scenarios & Options Recommended Decision-Making Criterion Information Sources & Research Methodology 4. Business Impact Analysis 6 4.1 Cost/Benefit Analysis 4.3 Qualitative/Intangible Business Benefits 4.4 Required Resources for Implementation 5. Risks & Contingency Plans 8 5.1 Key Risks to Mitigate 5.2 Contingency Plans 6. Recommendation 6.1 Action Plan 9 1. Executive Summary 1.1 What Problem does this Social Media Business Case Solve? Provide a brief description of the problems that this Social Media business case was designed to solve. For example: Budget Constraints Decrease in Traffic or Search Engine Ranking Content/Research Collaboration Issues Limited End-User Reach Declining Customer Satisfaction Scores Poor Product/Service Feedback & Participation Networking Visibility Marketing Program Integration & Measurement 2. Opportunity Overview & Key Success Factors 2.1 Opportunity Overview & Project Purpose In this section, put a positive spin on the solution you are recommend ations. You need to obtain buy-in from your project sponsor, and projects that clearly fit organizational goals are more likely to be supported. Document your vision of the impact your solution will have on the organization. Write from each key stakeholder perspective . For example: Senior management: Cost effective solution, transparency Sales: More information on potential prospects, shorter sales cycle Marketing: Tighter marketing program integration Customer Service: Better visibility, quicker response times IT: Minimal support required 2.3 Project Scope Additionally, document what is in scope for this project and explicitly state what is not in scope. If you are planning on a phased approach, provide a summary of what each phase will look like from your perspective. Consider how many departments/stakeholders will be involved; then, docum ent them. For example: A Social Media program typically involves using highly accessible and scalable publishing techniques across multiple online channels. Our project will be implemented in phases, with staff training included in each phase. Phase 1 – Internal/External Audit: Review competitors, our existing efforts, industry/market trends, customer habits, etc. Phase 2 – Planning & Scheduling: Carefully plan the Social Media program, select channels, create a posting schedule, select contributors, dates, times, topics, etc. Phase 3 – Implementation: Kick off the Social Media program, set up selected channels, start using & posting to selected channels, etc Phase 4 – Integrated Marketing: Use Social Media with existing channels, run promotions, use email marketing, contests, etc. Phase 5 – Reporting & Maintenance: Reports will be created, based on management needs to monitor sales, customer satisfaction, website traffic, etc. Executive dashboard KPIs may include: Social Network Reach, Blog Postings, Referral Traffic, New Twitter Followers, etc. Ongoing Maintenance will include: New Postings, Social Media Application Updates, User Interface, etc. 2.4 Project Schedule Following is a sample project schedule that you can customize furth er: Project Milestones 1. 2. 3. 4. 5. 6. 7. 8. Deadline RFP Delivered to Consultants RFP Question Period Ends RFP Close Date Conduct Consultant Evaluations Award Contract to Consultant Phase 1 Phase 2 Phase 3 February 1, 2010 March 1, 2010 April 1, 2010 April 15, 2010 April 30, 2010 June 1, 2010 July 1, 2010 August 1, 2010 9. Phase 4 August 1, 2010 10. Phase 5 July 1, 2010 2.5 Key Success Factors Key Success Factors are the most important items that need to work for you to ensure project success. Examples include: adequate budget & resources, skill sets, time to do the project amongst other priorities, project sponsorship. Key Success Factors Justification 1. Budget Budget is required for consultation and training to ensure success of the project and staff take-up Management buy-in is required to ensure program success and to ensure staff take-up To ensure system and project is aligned with corporate goals, and to communicate with staff Time will be required of management for detailed business analysis, training, on-going contribution and sufficient Marketing and IT resources will need to be allocated on an ongoing basis to ensure success 2. Sales, Marketing, Customer Service, Management, IT Buy-In 3. Executive sponsorship 4. Resources 3. Assumptions & Decision-Making Criterion 3.1 Assumptions List all the assumptions you made when creating this business case. Some examples of assumptions include: costs, savings, incremental returns, pricing, volume, or resource requirements such as expecte d consulting costs. 3.2 Use-Case Scenarios & Options Contrast and compare various options, such as “Do Nothing”, “Conduct a Pilot”, “Conduct Full-scale Implementation” or “Build Internally”. This section should provide assurance that the business will not fall apart should it be decided that moving to your recommendation is not feasible. Your goal is to economically justify your investment to generate returns. 3.3 Recommended Decision-Making Criterion This section is useful for proposing the decision-making criterion that you believe a senior executive should consider when making a decision. The idea is to make it very easy for your sponsor to agree with your proposal, given that you have already completed the majority of the required critical think ing. Following is a suggested prioritized list of proposed evaluation criterion: 1. 2. 3. 4. 5. 6. 7. Revenue and customer benefits Cost-savings Management performance insight Time to deploy Cost Integration with Existing systems Use Cases in our Industry 3.4 Information Sources Where did you go to learn more about this opportunity? Are your sources of information credible? What process did you take to do the res earch? Some examples include: vendor discussions, whitepapers, analyst firms, Google searching, conferences, peer-to-peer networking, and consultants. 4. Business Impact Analysis This section will outline the costs and benefits of the proposed initiative. Both quantitative and qualitative (intangible) benefits need to be documented here. Additionally, providing a “High/Low” adds an element of sensitivity analysis, which provides both a conservative and optimistic outlook for your proposed initiative. 4.1 Incremental Cost/Benefit Analysis Determine the projected incremental costs/benefits over a 3-year period. Insert your cost categories, a description of each, and a high/low estimate for each. Divide total benefits by total costs and multiply by 100 to obtain a %. Complete this worksheet for each use-case scenario, and/or project option. Cost/Benefit Analysis Worksheet Project Costs Costs Consulting Fees Implementation Costs Maintenance Training Etc. High Low High Low Total Costs Project Benefits Benefits Reduction in direct marketing expenditures Etc. Total Benefits % Benefits/Costs 4.2 Qualitative/Intangible Business Benefits What are the qualitative or intangible benefits that were not captured in the cost/benefit analysis worksheet? 1. 2. 3. 4. 5. 6. Better customer relationships Greater visibility into operations & performance Increase in website traffic Increase in customer loyalty Faster service response and resolution time Insert other qualitative/intangible benefits here 4.3 Required Resources for Implementation What are the required resources in terms of budget, staffing, consulting, or other expenditures related to moving forward with this business case? For example: Budget, per section 4.1 Staff Resources: Administrator, Contributors, etc. – X hours/week Management in Sales, Marketing, Customer Service: commitment to cooperate with IT on business requirements, training, and roll-out to their staff 5. Risks & Contingency Plans This section will outline the key risks that need to be mitigated and provide contingency plans for each identified risk. Risks include: lack of end-user adoption, project over-time/over-budget, technical risk, and senior management commitment. 5.1 Key Risks to Mitigate For example: 1. Lack of management commitment adoption 2. Lack of end-user adoption 3. Technical risk 5.2 Contingency Plans What is the contingency plan for each of the preceding risks? For example: To ensure commitment of managers in sales, marketing, customer service departments, there will be a virtual committee/team formed for the Social Media program. This team will be lead by X, and their job will be to identify specific business requirements, ensure two-way communication with staff, identify training requirements, and measure benefits gained. To ensure buy-in from staff, the committee will be responsible for establishing a communication and change plan with a phased implementation. Management will also communicate upcoming changes with staff, highlighting the benefits of using Social Media to staff and customers. After each phase of implementation, the group will gather feedback from the staff to incorporate updates or changes in the next phase. Technical risks will be mitigated by ensuring our current IT infrastructure is compatible with the various channels and applications selected. 6. Recommendation What is your proposed course of action? Insert your recommendations here. 6.1 Action Plan 1. Approve budget 2. Approve staff resource allocation to project 3. Approve formation of Social Media Management Committee to proceed with managing and reporting on the progress of the project ...
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