The model known as online digital marketing strategy planning with SOSTAC has been patented by PR Smith, author of several books on marketing, and particularly online marketing. The term is actually an acronym, the individual letters standing for Situational analysis, Objectives, Strategy, Tactics, Action and Control. Although every marketing plan is unique the model covers the essential elements that should be in every plan.
Free templates are available on the website link. They can help managers towards cost effective solutions to their professional problems. They will be assisted to reduce costs, increased sales and enhance professional efficiency.
Educationist, Psychologists, Marriage guidance counsellor and of course marketers find situational analysis useful. It is an attempt to establish what the present, or current, situation is. Information about external and internal factors is gathered and applied to an assessment of where a business or plan is at the present. As an initial step in a campaign situational analysis is very useful in clearing away any assumptions that might have been on place before a plan begins. If they are false the whole campaign could be built on shifting sand.
The second step, after situational analysis is to articulate and record the objectives of the plan. After deciding exactly what it is that is hoped for, planners must decide whether the objective is realistically feasible. In deciding this hard facts such as the budget need to be taken into account.
The third step of deciding upon tactics needs to consider question such as how the market is to be divided into segments. For example, a sugar-free chocolate bar might be aimed at teenagers or diabetics, two very different market segments.
An action plan will evolve naturally from the previous steps that have been taken. However, more accurate and numerical details will need to be put in place. For example, it will need to be stated exactly who does what and how much money is available for doing it. It will also be necessary to establish performance criteria and how performance is to be measured.
After careful planning a campaign should work well, but there will problems will inevitably arise. How to deal with them should form part of the initial plan. At the outset it should be decided how performances should be measured and what action should be taken when problems arise. Trouble shooting can be effective, or cause problems to escalate.
With the growth of online activities digital marketing strategy planning with SOSTAC needs to be slightly adapted to what is in effect a new situation for everyone. New factors such as the size and composition of the market need to be taken into account. This makes it all the more important to use a framework that provides a viable plan with a good structure. It will help marketing managers to reduce costs and increase sales.
Looking for more info on how and where to find the best Strategic Marketing Planning Template? Get it now by checking out our guide to all you need to know about SOSTAC .
