Question

youre starting a project and dont have a past campaign to use as a benchmark. how can you secure executive buy-in?

• research the costs of agencies that can do the work.
• consider industry research to back up your plan.
• position your program as an experiment or pilot.
• create a robust powerpoint with statistics to back up your plan.

Explanation:

🆕 New Concept Discovered: Stakeholder Management & Buy-in
Securing approval by lowering perceived risk

Step 1: Analyze the problem scenario

You are starting a brand-new project and lack historical internal data (a past campaign) to use as a benchmark. Executives are typically risk-averse and hesitant to fund unproven initiatives without evidence of potential success.

Step 2: Evaluate the options

• Research the costs of agencies that can do the work: This focuses on outsourcing costs rather than proving the value or feasibility of the project to secure buy-in.
• Consider industry research to back up your plan: While helpful, external industry data does not prove how the project will perform in your specific company environment.
• Position your program as an experiment or pilot: This is a classic business strategy. By framing a new initiative as a low-risk, small-scale "pilot" or "experiment," you lower the barrier to entry, reduce the required initial budget, and allow executives to test the waters before committing to a full-scale launch.
• Create a robust PowerPoint with statistics to back up your plan: A presentation alone cannot replace the lack of concrete benchmark data.

Step 3: Identify the best approach

Framing the project as a pilot program is the most effective way to secure executive buy-in when historical benchmarks are missing, as it minimizes financial and operational risk.

Answer:

Position your program as an experiment or pilot.