The 5P Business Case – Part 2

Video is an important part of the communication channel mix for employees, but building the business case can be a challenge. To build the case for including video as part of your overall communication infrastructure, cover these five points.

  1. Pain. Find the right opportunity that is causing pain: what challenges need attention, what change is under way, what results need to shift? Is the pain at the top, or is it your employees who need help?
  2. Partners. Find internal sponsors: who has the greatest stake in addressing this issue? What will they invest to see the situation change?
  3. Potential benefit. Put a price on success: What is the value of addressing this issue?
  4. Pilot. Before a TV series is made, producers invest in a pilot to test the concept. This is a solid approach for internal video. Start small to test capability, appetite, and audience.
  5. Prove. Measure the impact of the initiative to build momentum

In the last post, we covered Pain and Partners. Now lets look at Potential, Pilot and Prove.

POTENTIAL BENEFIT

What is the current situation costing the business? What will solving the problem contribute to the business?

At an enterprise level, doing anything that improves communication pays dividends. Companies with effective communication financially outperform those with ineffective communication. A long-term study has demonstrated this can mean that over a 5 year period, a company with effective communication would return 1.7 times higher shareholder returns.[1]

The same study showed that 70% of highly effective organisations agree that “The use of internal social business/collaboration tools for work-related purposes has a positive impact on employee productivity at my organisation.

In order to build the case, however, it will be necessary to get specific.

By clearly defining the change in knowledge or behaviour, you can calculate a return.

  • Will sales increase with better training? Will the time to learn new products reduce?
  • Will safety improve? Will incidents reduce? What is the current cost? What would an improvement mean in terms of days lost?
  • What is the current cost of all staff town hall meetings?

Not every initiative will have a definite dollar positive outcome. Other organisational outcomes may be valuable too. However, in seeking investment for an initiative, it can be useful to target opportunities where there are both financial and non-financial benefits to demonstrate the result.

In defining the potential benefits, work with your partners from Finance to ensure your calculations are relevant and acceptable in your business.

PILOT

Based on the problem and the potential benefit, where can you start?

By clearly identifying the business outcome a communication activity is designed to solve, measurement becomes a simpler task. In each of the following examples, identifying the costs of the current state, and quantifying the outcomes provides a simple method of targeting benefits.

Potential Benefits

Potential Benefits

PROVE the case

What just happened? What changed as a result? How did people use the new approach?

Effective measurement is a perennial topic in communication. While top marketers are comfortable with demonstrating traffic, leads and conversions, internal communicators sometimes struggle with clearly demonstrating the return on initiatives.

However, if you have clearly identified the business outcomes, been clear about how video will help contribute to the solution, you are in a strong position to measure the impact.

Analytics packages allow for detailed viewing behaviour to be measured: who watched for how long, where and what did they use to watch, when did their attention shift. These data help shape the approach and provide essential information for looking at the impact of video content. Combined with audience feedback, this information will contribute to the evaluation of a pilot.

 

Prove the impact

Prove the impact

It’s a wrap – for now…

Video is an iterative channel. It grows and evolves with your overall business strategy. Great stories have a way of capturing people’s attention. If you find the right opportunity and take a strategic approach, people will take notice. You can transform a tactic – a broadcast, a leader message, an employee story – into a powerful strategic tool. Taking a planned approach to building the case and demonstrating the outcomes is the first step in making video an integral part of your engagement agenda and delivering valued outcomes to your business.

 

[1] Towers Watson 2013 – 2014 Change and Communication ROI Study Report http://www.towerswatson.com/en/Insights/IC-Types/Survey-Research-Results/2013/12/2013-2014-change-and-communication-roi-study

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s