PR Smith SOSTAC Marketing Planning Model: This is a brief introductory article listing 6 steps of SOSTAC Model of Marketing and, in the end, there is a video lecture on Digital Marketing Plan from P R Smith, the creator and author of SOSTAC Model.
PR Smith SOSTAC Marketing Planning Model
PR Smith SOSTAC Marketing Planning Model is a tool specifically designed to help managers create effective marketing strategies and campaigns.
It is a good planning companion and provides a solid road map to achieve organizational marketing objectives.
SOSTAC = Situation, Objective, Strategy, Tactics, Actions, Control
Situation: If you are a manager or an entrepreneur, you know very well that situation analysis is a very complex and demanding process. Often you need to rely on your guts as a last resort. This is, especially, true when the firm is faced with uncertainty and nothing helps to clarify the nerve-breaking confusion about choices.
Situation analysis involves external and internal environment analysis. PESTLE and SWOT can be useful tools to execute a situation analysis.
This process is ignited by a changing business environment. Therefore, you need to find the strategic fit based on your firm capacity and resources to gain market share.
Once you do a good situation analysis you are in better position to decide on your objectives. These objectives(goals) should be both short and long-term. To make your objectives clear to your team and somewhat inspirational, it is recommended normally in management that you use the SMART approach.
SMART stands for Specific, Measurable, Assignable, Realistic and Time-related. Once you make your objectives according to the SMART framework, your team is likely to have an optimal performance.
Strategy is a plan that would tell your team how they would get to their goals or objectives. Simply put, Strategy is your personal or team’s answer to the question “How”. But most importantly this should be based on differentiation otherwise there would be no competitive advantage. Hence strategy is a different and better approach. Or I can say it a different and better answer to the question of “How is it done?, How do we create the customer value?, How do we create the customer experience?” etc.
These are specific actions that your company needs to take to execute the strategy.
This requires your staff alignment and deployment. Who is going to do What and When? Tactics are your answer to the 3 Ws questions: Who, What & When.
How can you control and measure the processes? This is where you can assign KPIs and create a system of accountability at individual and team level. Your sole objective is to monitor performance and get immediate feedback to correct it while meeting targets/goals.
Paul R Smith SOSTAC Marketing Planning Model provides a clear and concise framework or method of marketing planning. It is easy to implement and apply to the marketing processes to obtain a positive marketing or business outcome.
SOSTAC Model for Digital Marketing and Digital Marketing Plan
This is a lecture below from the creator of SOSTAC. Furthermore, if you have one element in your digital marketing on online advertising mix such as Google Adwords or PPC, you can still apply SOSTAC to manage your campaign.
Note: The article will be improved and revised soon.