What do you want to achieve in social? List examples, such as "grow sales by x% a year" or "increase repeat customer business by y%," the report says. Each objective should have one or more strategies associated with it and should describe how to achieve the objective.

Next, review each objective-strategy combination in terms of emerging social technology trends and describe how these technologies can support, enhance or replace the strategy. Keep in mind the associated costs, risk assessments and ROI, the report says.

Social Business Strategy Step 3: Formulating the Strategy

Review your objectives and strategies and determine which of them has the greatest output (impact on achieving objectives) for the least input (risk, investment, effort and complexity), the report states. This will help determine which projects should be supported and which should be scrapped.

As a guideline: