What was the outcome? As much as 90% businesses started by entrepreneurs and small business went busted or failed within a year. I experienced one of the many busts few years ago (with my cafe business) because i don't really have a proper and "the few solid sheets" called a marketing plan.
Defining strategic objectives: the organization must have a clear vision and establish if the media channels will complement the traditional ones, or will replace them. We must define specific objectives (don't forget to check if they are SMART!) and we must also specify the contribution of the online activities to the organization's turnover.