Frustrated by your marketing efforts not delivering for the business?
Updated: Nov 13
Do you find that your marketing activities or marketing function isn't delivering for the business by making an impact on the bottom line or being able to demonstrate a meaurable return on investment? Are you seeing marketing as a cost to the business and not an investment?
By using SOSTAC®, you can align your business activities with your objectives, make more informed decisions, and increase your chances of success in a competitive market.
The SOSTAC® planning model provides a structured and comprehensive framework for businesses to create and execute successful marketing and business strategies. It encourages a systematic approach to planning, helps identify potential issues early on, and provides a foundation for continuous improvement.
SOSTAC® stands for Situation, Objectives, Strategy, Tactics, Action, and Control. Here’s how the model can help your business.
Situation analysis (S): This involves assessing your current business environment, understanding your strengths, weaknesses, opportunities, and threats (SWOT analysis), and conducting market research. It helps you gain insights into your market, customers, competitors, and overall business landscape. By understanding the situation, you can make informed decisions about your business's future direction.
Objectives (O): Setting clear and measurable objectives is crucial for your business. These objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). They provide a clear sense of purpose and direction, guiding your business towards desired outcomes. Objectives could include increasing market share, improving customer satisfaction, launching new products, or entering new markets.
Strategy (S): Once you have a clear understanding of your situation and objectives, you can develop a strategy to achieve those objectives. The strategy outlines the broad approach and tactics you'll use to reach your goals. For example, if your objective is to increase market share, your strategy might involve targeting a specific niche, improving product differentiation, or leveraging partnerships.
Tactics (T): Tactics are the specific actions and initiatives you implement to execute your strategy. These could include marketing campaigns, advertising, social media efforts, product promotions, pricing strategies, and more. Tactics are more detailed than the high-level strategy and involve the practical steps needed to put your plan into action.
Action (A): This stage is about putting your tactics into action and implementing your plans. It involves coordination among different teams and individuals within your business, ensuring that everyone is aware of their roles and responsibilities. This phase focuses on execution and requires effective project management to achieve your desired outcomes.
Control (C): Control involves monitoring and measuring the performance of your strategies and tactics against the set objectives. Key performance indicators (KPIs) are used to track progress and identify areas that require adjustments or improvements. Regularly reviewing and analysing data allows you to make data-driven decisions and optimize your approach.
Lydia McClelland of LMC Associates is a certified SOSTAC® Planner and is a licensed SOSTAC® Trainer and can help you and your team’s ability to develop a strategic approach to marketing demonstrating a return on investment.
If you’d like to discuss your training needs or those of your team, please book a call with Lydia McClelland to discuss in more detail to discuss in confidence and learn more about SOSTAC®.