Writing a business case

Pinterest Business case studies can have a massive impact on your marketing, done right. While they cost time and effort to create, they can be a stellar tactic to draw new customers to your business and help you earn new clients. What is a Case Study?

Writing a business case

Go-to-market strategy The Product Description Put your audience on familiar ground to begin: How does your thing align with the existing product road map, and how does it complement the way you create value for customers today?

After that, go right into what the thing is — the simpler the language, the better. Then explain how you plan to position it in the market. You can approach the financial aspects of your business case in a structured way despite uncertainty There are a few things that are important to touch on upfront in this section if you have an existing price structure that your proposal affects if your idea will stand by itself, then skip to the next paragraph: Recap what writing a business case current price structure is Explain the business logic behind the current pricing and packaging Assess how well the existing price structure is working Explain how your new product or feature fits into this price structure, including your proposed pricing for it If your product stands alone, then you can get right into your new proposed pricing.

Price benchmarks from similar products or competitors. Feedback from market research subjects on different price points Tip 3: When you present your concept or prototype to market research subjects, always ask them what they would expect it to cost, and ask how they came up with that number.

Revenue Projection Assuming your product is expected to generate revenue, the only question harder to answer than how to price it is how much money you expect to make. What you need is a way to provide a realistic revenue possibility while leaving room for uncertainty.

To how many people can you market this product? Of the paying users, what do you expect to be the average life span? How much on average will they spend on those? What does that yield in terms of annual spend per customer?

Then lay out a low, medium, and high adoption scenario in your business case: Show where the money comes from arrows indicate assumptions An up-sell to existing customers obviously has a different funnel than a brand-new product, so this may look very different depending on your situation.

The key is to capture the drivers of incremental revenue, and put in some realistic parameters. Just work backward from traction. How will we make this a commercial success? Paint them a picture by answering these questions: Who gets trained, when, and by whom to make this product a commercial hit?

Is this product bought or sold? Are people going to pull out their credit card and buy on the spot, or will salespeople be pushing the product? Even if the answer seems obvious, call this out.

How are you going to train the sales team? If salespeople are part of the equation, how will you train them? Who will own that?

Will this new product be added to the onboarding process for new salespeople, and what materials will you and others create to make that easy sales scripts, tutorials, one-sheeters, etc.

Business Case vs. Business Plan

Same goes for customer support. How do you plan to introduce this product? Do you envision pairing this product with another existing product or service line? Does it make sense to introduce this at an event like a conference or trade show?

How are you going to jump-start the marketing and sales machinery? How will we get additional validation? Can we put the product in front of existing customers first, do a closed beta phase, or come up with some other way to get early feedback?

From your research, you should have a ready list of must-haves vs. Now you need to explain those to your team. I find it helps to frame the market requirements within the customer process your product supports.

For example, if I were building a product to be used by sophisticated business analysts, I might lay out the process my target user goes though when they have to answer a complex question from one of their colleagues or superiors: Your product addresses a pain point somewhere in the process your user goes through — show that.

Grounding this section in the process you support makes it easier for your audience to understand requirements. In the example above, the business analysts might enjoy analyzing data but hate spending time explaining things over e-mail to other people in the business.A project brief describes what needs to be done.

The project plan explains how you are going to do it. The business case gives the reasons why. A business case document is a formal, written argument intended to convince a decision maker to approve some kind of action.

A well-crafted business case explores all feasible approaches to a given problem and enables business owners to select the option that best serves the organization. Watch video · In order to make your idea a reality, you may be asked to write a business case that clearly articulates what you want to accomplish, how you're going to do it, and why it's worth doing.

Business cases are traditionally used in approval and prioritization processes. Writing a strong and complete business case can make all the difference.

writing a business case

Martin Webster’s guest post gives exceptional information on how to create a business case that will make your project a success! Preparing for Business Change. This article is about writing a business case. Oct 16,  · Business writing.

Follow this topic. Following. READ THESE FIRST: Sharpen the key management skills you need to build a persuasive business . In order to make your idea a reality, you may be asked to write a business case that clearly articulates what you want to accomplish, how you're going to do it, and why it's worth doing.

Business cases are .

How to Write a Business Case Study: Your Essential Guide