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Four Steps to CFO Funding for Your
Employee Communications Platform
October 12, 2017
2
OUR SPEAKERS
Greg Shove
Founder & Executive Chairman
SocialChorus
@gregshove
Brian McDowell
VP of Sales
SocialChorus
3
JOIN THE CONVERSATION!
Chat with us on
ReadyTalk!
Our agenda for today:
1. The Modern Employee Comms Opportunity - Getting to
3.0
2. The Business Case and Approval Roadmap
3. Questions the CFO will ask - and you need to answer!
4. Building your Business Case
5. Building your Coalition and Getting Approval
6. Now what?
THE OPPORTUNITY FOR
EMPLOYEE
COMMUNICATIONS
Comms 1.0
LEADERSHIP COMMS EVERYONE
Comms 1.0
LEADERSHIP COMMS EVERYONE
Comms 2.0
LEADERSHIP COMMS EVERYONE
Comms 3.0
LEADERSHIP COMMS
PEOPLE AND
TEAMS
PEOPLE AND
TEAMS
PEOPLE AND
TEAMS
THE BUSINESS CASE AND
APPROVAL ROADMAP
11
THE KEYS TO BUSINESS CASE SUCCESS
• Follow our Roadmap
• Get the sequence right
• Be Ready for the important questions
• Build your OWN business case - show the $$
• Build a coalition
What budget requisition feels like
What it can be – the first step on your journey
14
PROGRAM BUSINESS CASE AND APPROVAL ROADMAP
1 2 3 4 5
PROBLEM
DEFINITION
SOLUTION
DEFINITION
BUSINESS CASE
ORGANIZATION
INTEGRATION
LAUNCH
PLANNING
Define the scope
& urgency of the
communication
issues
Agree on the
overall philosophy
and model for the
solution
Confirm
commitment of
resources and
senior leader
support
Validate all
integration points
and support from
relevant
stakeholders
Commitment with
tech partner to the
program
outcomes
15
SEQUENCE IS CRITICAL - GOLDILOCKS ZONE
TOO LATE
TOO EARLY
JUST
RIGHT!
Problem
Problem
Problem
Solution
Biz Case
Solution
Integration
Solution
Biz Case
Launc
h
Integration
Integration
Biz Case
Launc
h
Launc
h
16
QUESTIONS YOUR CFO WILL ASK
Why make a change?
•Can’t any of our current technologies do this?
•How does this fit into all of that technology?
Why spend $$ now?
•How much will this cost – hard $, soft $? What is the 5 yr TCO?
•What is the expected return? Hard $, Soft $, Savings?
Why this solution?
•Will it deliver the results?
•Do you have strong support from: IT, HR, Legal, LOB Leaders?
17
THREE PART BUSINESS CASE
OVERVIEW COMMUNICATION
OUTCOMES
BUSINESS OUTCOMES
1 2 3
◈ Current State: The problems
to be solved
◈ Desired State: The solution
and what it will enable
◈ Audience: List of relevant
groups that will be impacted
◈ Critical Content: High value
content to be delivered to
each group
◈ Stakeholder Benefits: The
executives or other leaders
that will benefit, and how
◈ Revenue: Increases in
productivity, customer results,
anything that makes money
◈ Cost: Reductions in cost –
replacing or removing other
expenses, or
reducing/avoiding costs
◈ Risk: Reducing exposure,
mitigating risk
18
THREE PART BUSINESS CASE
OVERVIEW COMMUNICATION
OUTCOMES
BUSINESS OUTCOMES
1 2 3
◈ Current State: The problems
to be solved
◈ Desired State: The solution
and what it will enable
◈ Audience: List of relevant
groups that will be impacted
◈ Critical Content: High value
content to be delivered to
each group
◈ Stakeholder Benefits: The
executives or other leaders
that will benefit, and how
◈ Revenue: Increases in
productivity, customer results,
anything that makes money
◈ Cost: Reductions in cost –
replacing or removing other
expenses, or
reducing/avoiding costs
◈ Risk: Reducing exposure,
mitigating risk
19
THREE PART BUSINESS CASE
OVERVIEW COMMUNICATION
OUTCOMES
BUSINESS OUTCOMES
1 2 3
◈ Current State: The problems
to be solved
◈ Desired State: The solution
and what it will enable
◈ Audience: List of relevant
groups that will be impacted
◈ Critical Content: High value
content to be delivered to
each group
◈ Stakeholder Benefits: The
executives or other leaders
that will benefit, and how
◈ Revenue: Increases in
productivity, customer results,
anything that makes money
◈ Cost: Reductions in cost –
replacing or removing other
expenses, or
reducing/avoiding costs
◈ Risk: Reducing exposure,
mitigating risk
20
THREE PART BUSINESS CASE
OVERVIEW COMMUNICATION
OUTCOMES
BUSINESS OUTCOMES
1 2 3
◈ Current State: The problems
to be solved
◈ Desired State: The solution
and what it will enable
◈ Audience: List of relevant
groups that will be impacted
◈ Critical Content: High value
content to be delivered to
each group
◈ Stakeholder Benefits: The
executives or other leaders
that will benefit, and how
◈ Revenue: Increases in
productivity, customer results,
anything that makes money
◈ Cost: Reductions in cost –
replacing or removing other
expenses, or
reducing/avoiding costs
◈ Risk: Reducing exposure,
mitigating risk
21
BUSINESS OUTCOMES
• Reduce current costs
• Labor savings
• Retire other systems
• Reduce training, compliance, certification costs
• Expand access to existing systems
• Advocacy, social sharing
• Increase engagement
• Reduce attrition
• Accelerate onboarding
Hard $$$
Soft $$$
22
HARD $$
Category Examples Example $$
Reduce current
costs
• Print less
• Stop upgrades to intranet, CMS, etc.
• $1 – 5 per print piece
• Upgrade projects are $50-150K
Labor savings • Publishing efficiency
• 3rd party services
• Typical savings of 4-8 hours per
week
Retire other
systems
• Email newsletters
• CMS
• Intranet
• LMS
• Annual SW license fees
23
FIRM $$
Category Examples Example $$
Reduce training,
compliance,
certification costs
• Move classroom content into the app
• Deliver critical content in the app
• 1 day of training = $400-2000
Expand access to
existing systems
• Reports & updates from transactional
systems
• Saved user license fees
Advocacy • Earned Media Value of social sharing • 100 people sharing 10x a month
generate $13K in EMV
24
SOFT $$
Category Examples Example $$
Increase
engagement
• 74% of app users “feel more
connected to my company”
• A 5% increase of engagement is
linked to:
• 3% increase in revenue growth the
following year
• 3.5 fewer absence days per year
Reduce attrition • 66% of app users “have a better
understanding of how my role fits
into the company strategy”
• Talent Replacement costs:
• Entry-level: 30-50% of annual
salary
• Mid-level: 150% of annual salary
• Specialized, high-level: Up to
400%
Accelerate
onboarding
• 33% of new hires leave their job
in the first 6 months.
25
THE MATH WORKS!
Category
BEFORE
SocialChorus
AFTER
SocialChorus
Email Newsletter Tool & Design Services $1 $0
Intranet Upgrades & Management $4 $3
Compliance Training – 2 hr/month $50 $25
Attrition – Amortized, from 10% to 9% $208 $187
SocialChorus $0 $4
MONTHLY COSTS PER EMPLOYEE $263 $219
Spend $4 and save $44
Assumptions: 5,000 employees, $50K annual salary
26
BUILDING A COALITION
Department
Must
Have?
Nice to
Have?
When Needed
IT X
• Check-in before Biz Case
• Contribute to Biz Case
• Validate after Biz Case
HR X • Collaborate on Biz Case
Marketing X • Contribute to Biz Case
CFO X • Review/approve Biz Case
CEO X • Anytime – pressure all others
Legal X • After Biz Case to approve
Business
Leaders
X
• Collaborate/support overall project & biz
case
27
NEED A BUSINESS CASE?
PROCESS
◈ Interviews: Assess current state &
priorities
◈ Workshop: Communication Outcomes
◈ Confirm communication priorities
◈ Data gathering – business impact
◈ Workshop: Business Outcomes
◈ Review & finalize presentation
◈ 2 weeks total time
◈ 2 workshops @ 2 hr each
TIMING
SONIA FIORENZA
Strategic Advisor
NICOLE ALVINO
Co-founder
CHUCK GOSE
Strategic Advisor
◈ Senior corporate communications and management
consulting professionals
◈ Focus based on industry, business objective, or
strategic priority; driven by your vision and goals and
informed by SocialChorus best practices
28
JOIN THE CONVERSATION!
Chat with us on
ReadyTalk!
Transforming how
workers & organizations
stay connected
every day
30
31
JOIN OUR NEXT WEBINAR
Thank You!

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Four Steps to CFO Funding for Your Employee Communications Platform

  • 1. Four Steps to CFO Funding for Your Employee Communications Platform October 12, 2017
  • 2. 2 OUR SPEAKERS Greg Shove Founder & Executive Chairman SocialChorus @gregshove Brian McDowell VP of Sales SocialChorus
  • 3. 3 JOIN THE CONVERSATION! Chat with us on ReadyTalk!
  • 4. Our agenda for today: 1. The Modern Employee Comms Opportunity - Getting to 3.0 2. The Business Case and Approval Roadmap 3. Questions the CFO will ask - and you need to answer! 4. Building your Business Case 5. Building your Coalition and Getting Approval 6. Now what?
  • 9. Comms 3.0 LEADERSHIP COMMS PEOPLE AND TEAMS PEOPLE AND TEAMS PEOPLE AND TEAMS
  • 10. THE BUSINESS CASE AND APPROVAL ROADMAP
  • 11. 11 THE KEYS TO BUSINESS CASE SUCCESS • Follow our Roadmap • Get the sequence right • Be Ready for the important questions • Build your OWN business case - show the $$ • Build a coalition
  • 13. What it can be – the first step on your journey
  • 14. 14 PROGRAM BUSINESS CASE AND APPROVAL ROADMAP 1 2 3 4 5 PROBLEM DEFINITION SOLUTION DEFINITION BUSINESS CASE ORGANIZATION INTEGRATION LAUNCH PLANNING Define the scope & urgency of the communication issues Agree on the overall philosophy and model for the solution Confirm commitment of resources and senior leader support Validate all integration points and support from relevant stakeholders Commitment with tech partner to the program outcomes
  • 15. 15 SEQUENCE IS CRITICAL - GOLDILOCKS ZONE TOO LATE TOO EARLY JUST RIGHT! Problem Problem Problem Solution Biz Case Solution Integration Solution Biz Case Launc h Integration Integration Biz Case Launc h Launc h
  • 16. 16 QUESTIONS YOUR CFO WILL ASK Why make a change? •Can’t any of our current technologies do this? •How does this fit into all of that technology? Why spend $$ now? •How much will this cost – hard $, soft $? What is the 5 yr TCO? •What is the expected return? Hard $, Soft $, Savings? Why this solution? •Will it deliver the results? •Do you have strong support from: IT, HR, Legal, LOB Leaders?
  • 17. 17 THREE PART BUSINESS CASE OVERVIEW COMMUNICATION OUTCOMES BUSINESS OUTCOMES 1 2 3 ◈ Current State: The problems to be solved ◈ Desired State: The solution and what it will enable ◈ Audience: List of relevant groups that will be impacted ◈ Critical Content: High value content to be delivered to each group ◈ Stakeholder Benefits: The executives or other leaders that will benefit, and how ◈ Revenue: Increases in productivity, customer results, anything that makes money ◈ Cost: Reductions in cost – replacing or removing other expenses, or reducing/avoiding costs ◈ Risk: Reducing exposure, mitigating risk
  • 18. 18 THREE PART BUSINESS CASE OVERVIEW COMMUNICATION OUTCOMES BUSINESS OUTCOMES 1 2 3 ◈ Current State: The problems to be solved ◈ Desired State: The solution and what it will enable ◈ Audience: List of relevant groups that will be impacted ◈ Critical Content: High value content to be delivered to each group ◈ Stakeholder Benefits: The executives or other leaders that will benefit, and how ◈ Revenue: Increases in productivity, customer results, anything that makes money ◈ Cost: Reductions in cost – replacing or removing other expenses, or reducing/avoiding costs ◈ Risk: Reducing exposure, mitigating risk
  • 19. 19 THREE PART BUSINESS CASE OVERVIEW COMMUNICATION OUTCOMES BUSINESS OUTCOMES 1 2 3 ◈ Current State: The problems to be solved ◈ Desired State: The solution and what it will enable ◈ Audience: List of relevant groups that will be impacted ◈ Critical Content: High value content to be delivered to each group ◈ Stakeholder Benefits: The executives or other leaders that will benefit, and how ◈ Revenue: Increases in productivity, customer results, anything that makes money ◈ Cost: Reductions in cost – replacing or removing other expenses, or reducing/avoiding costs ◈ Risk: Reducing exposure, mitigating risk
  • 20. 20 THREE PART BUSINESS CASE OVERVIEW COMMUNICATION OUTCOMES BUSINESS OUTCOMES 1 2 3 ◈ Current State: The problems to be solved ◈ Desired State: The solution and what it will enable ◈ Audience: List of relevant groups that will be impacted ◈ Critical Content: High value content to be delivered to each group ◈ Stakeholder Benefits: The executives or other leaders that will benefit, and how ◈ Revenue: Increases in productivity, customer results, anything that makes money ◈ Cost: Reductions in cost – replacing or removing other expenses, or reducing/avoiding costs ◈ Risk: Reducing exposure, mitigating risk
  • 21. 21 BUSINESS OUTCOMES • Reduce current costs • Labor savings • Retire other systems • Reduce training, compliance, certification costs • Expand access to existing systems • Advocacy, social sharing • Increase engagement • Reduce attrition • Accelerate onboarding Hard $$$ Soft $$$
  • 22. 22 HARD $$ Category Examples Example $$ Reduce current costs • Print less • Stop upgrades to intranet, CMS, etc. • $1 – 5 per print piece • Upgrade projects are $50-150K Labor savings • Publishing efficiency • 3rd party services • Typical savings of 4-8 hours per week Retire other systems • Email newsletters • CMS • Intranet • LMS • Annual SW license fees
  • 23. 23 FIRM $$ Category Examples Example $$ Reduce training, compliance, certification costs • Move classroom content into the app • Deliver critical content in the app • 1 day of training = $400-2000 Expand access to existing systems • Reports & updates from transactional systems • Saved user license fees Advocacy • Earned Media Value of social sharing • 100 people sharing 10x a month generate $13K in EMV
  • 24. 24 SOFT $$ Category Examples Example $$ Increase engagement • 74% of app users “feel more connected to my company” • A 5% increase of engagement is linked to: • 3% increase in revenue growth the following year • 3.5 fewer absence days per year Reduce attrition • 66% of app users “have a better understanding of how my role fits into the company strategy” • Talent Replacement costs: • Entry-level: 30-50% of annual salary • Mid-level: 150% of annual salary • Specialized, high-level: Up to 400% Accelerate onboarding • 33% of new hires leave their job in the first 6 months.
  • 25. 25 THE MATH WORKS! Category BEFORE SocialChorus AFTER SocialChorus Email Newsletter Tool & Design Services $1 $0 Intranet Upgrades & Management $4 $3 Compliance Training – 2 hr/month $50 $25 Attrition – Amortized, from 10% to 9% $208 $187 SocialChorus $0 $4 MONTHLY COSTS PER EMPLOYEE $263 $219 Spend $4 and save $44 Assumptions: 5,000 employees, $50K annual salary
  • 26. 26 BUILDING A COALITION Department Must Have? Nice to Have? When Needed IT X • Check-in before Biz Case • Contribute to Biz Case • Validate after Biz Case HR X • Collaborate on Biz Case Marketing X • Contribute to Biz Case CFO X • Review/approve Biz Case CEO X • Anytime – pressure all others Legal X • After Biz Case to approve Business Leaders X • Collaborate/support overall project & biz case
  • 27. 27 NEED A BUSINESS CASE? PROCESS ◈ Interviews: Assess current state & priorities ◈ Workshop: Communication Outcomes ◈ Confirm communication priorities ◈ Data gathering – business impact ◈ Workshop: Business Outcomes ◈ Review & finalize presentation ◈ 2 weeks total time ◈ 2 workshops @ 2 hr each TIMING SONIA FIORENZA Strategic Advisor NICOLE ALVINO Co-founder CHUCK GOSE Strategic Advisor ◈ Senior corporate communications and management consulting professionals ◈ Focus based on industry, business objective, or strategic priority; driven by your vision and goals and informed by SocialChorus best practices
  • 28. 28 JOIN THE CONVERSATION! Chat with us on ReadyTalk!
  • 29. Transforming how workers & organizations stay connected every day
  • 30. 30
  • 31. 31 JOIN OUR NEXT WEBINAR