Using Business Cases to make decisions

Using business cases to make strategic decisions

I don’t know about you, but I have a love/hate relationship with end-of-year planning. Or any planning exercise for that matter.

I love planning because it’s an opportunity to review what you’ve done, what you’ve done well, and where there is room for improvement. And then comes the fun part, reacting to all the data and coming up with ideas for what to do next.

But then…

…you have a whole pile of ideas and it can feel overwhelming. That’s where we are right now. We have a lot of good ideas but now we have to go through the exercise of winnowing down the list, prioritizing, and creating plans around each idea from execution to measurement.

You thought I was going to say to use the 5Ps, didn’t you?

Well, you would be right.

The 5Ps in this context will stand in for business cases.

We know that for Trust Insights our main priority for 2023 will be awareness. We need to bring more people into our ecosystem, and let them know who we are and what we do. We need more prospects at the top of our funnel.

The other side of that is that we’re still operating with limited resources and talent. For us to achieve our goals, it’s pertinent that we stay focused and choose the tactics that are going to yield the best results.

Ok, enough chit-chat. Let’s get into it.

For the sake of this example, let’s say option 1 is to generate more blog content, and option 2 is more public speaking. And in this example, I only have the bandwidth to do one of these things, not both. How do I decide? Let’s run down the 5Ps for each.

Write more content

Purpose: To enhance our organic search results and drive more traffic to the website
People: Internal: Me, Chris, and a contractor. External: Marketers on the internet that are using a search engine to find specific keywords and topics
Process: Use the predictive keyword calendar to generate topics and write at least three posts a week (to start). Someone will write/edit/schedule the posts. Once the post is live, share it on social media.
Platform: Open AI (or a similar tool) to help get the post started. Google Docs to write the post. WordPress to host the post. Agorapulse to schedule the post on social media.
Performance: XX% increase in site traffic, XX% increase in TOP prospects

More public speaking

Purpose: To drive more awareness and traffic to the website by demonstrating expertise
People: Internal: Me, Chris, our virtual assistant (VA). External: Event attendees
Process: VA to research and pitch events with our topics. Speaker to create a speaking deck with any associated materials. Speaker to give a talk at an event. Travel as needed.
Platform: The internet for research. Google slides for creating the talk.
Performance: XX% increase in site traffic, XX% increase in TOP prospects

When I look at these two options side by side, a few things stick out to me. The addressable audience with content creation is larger. The risk with the event audience is that it could be the same audience over and over. Ideally, we would reach a new audience but we don’t know that for sure. We also need to convince event coordinators that we are the right speakers. With content creation, as long we do our due diligence with planning, we should be able to reach our correct audience when they are looking.

So, does this mean we can’t look for more public speaking opportunities? Not at all. It is still an important tactic to drive awareness. However, we should spend our time generating more helpful content and publishing it on our website. And if we rethink it, our content creation could be a tactic that leads to more public speaking.

Ok, friends. It’s time to wrap this up. I have a lot of business cases to write and decisions to make.

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