SOSTAC is a strategic planning framework developed by PR Smith in the 1990s. It stands for Situation, Objectives, Strategy, Tactics, Action, and Control. Each of these elements represents a stage in the planning process, and the framework is designed to provide a systematic approach to developing and implementing marketing plans.
Here's a brief overview of each component:
- Situation Analysis: This involves assessing the current situation by examining internal factors (such as strengths and weaknesses) and external factors (such as opportunities and threats) that may impact the organisation's objectives.
- Objectives: Setting clear and specific goals that the organisation aims to achieve. These objectives should be measurable, achievable, relevant, and time-bound (SMART).
- Strategy: Developing a plan to achieve the objectives identified in the previous stage. This may involve identifying target markets, positioning the product or service, and determining the overall approach to reaching the goals.
- Tactics: Defining the specific actions and initiatives that will be undertaken to implement the strategy. This could include activities such as advertising, public relations, direct marketing, and digital marketing.
- Action: Putting the plan into motion by executing the tactics outlined in the previous stages. This involves assigning responsibilities, allocating resources, and implementing the necessary activities.
- Control: Monitoring and evaluating the performance of the marketing plan against the objectives set in the second stage. This may involve tracking key performance indicators (KPIs), gathering feedback, and making adjustments to the plan as needed.
As a consultant, we recommend the SOSTAC framework to guide our clients through the process of developing and implementing effective marketing plans. By following the structured approach provided by SOSTAC, we help your clients to:
- Gain a clear understanding of their current situation and the factors that may impact their marketing efforts.
- Define specific and achievable objectives that align with their overall business goals.
- Develop a well-defined strategy for reaching their target audience and achieving their objectives.
- Identify the most effective tactics and actions to implement the strategy.
- Ensure that the necessary resources are allocated and that responsibilities are clearly defined.
- Monitor the performance of the marketing plan and make adjustments as needed to ensure that objectives are met.
Overall, SOSTAC provides a comprehensive framework for strategic marketing planning that can help you as a consultant to guide your clients through the process of developing and implementing effective marketing strategies.