Learn a-z of marketing in a nutshell
Hi All!
Let's simplify SOSTAC today. This framework helps us recognize what we often overlook in our marketing campaigns. It's quite straightforward and remember—everything is interconnected.
PR Smith's SOSTAC Framework
S- Where are you now?
O- Where are you going?
S- How do you get there?
T- Details of how you will get there
A- Guarantees excellence of plan execution
C- How do you know your getting there?
Let's use the example of a bank launching a marketing
campaign to promote credit cards. The explanation outlines each part of SOSTAC,
while the screenshot showcases the actual campaign. Hopefully, you've grasped
by now that marketing isn't rocket science—it’s all about effort and strategic
execution.
This example campaign reflects how I envisioned the
strategy, but you can enhance it with industry insights, past experiences and big data analytics.
Keep in mind, the framework I’ve developed precisely addresses each issue,
ensuring a solid foundation for digital/social media marketing.
Situational Analysis: Where are
you now?
Situation 1. Client wants to acquire new customers between
age groups of 27-35.
Situation 2. Sales reduced as consumers prefer to spend more
on necessities rather than luxury due to growing inflation.
SMART Objective: Where are you
going?
Objective 1. Based
on the situation, formulate your objective with strategic budgeted decisions.
Objective 2. Based
on the situation, formulate your objective with strategic budgeted decisions.
RACE Goals- We must include this section into SMART Objectives
Objective 1. Determine
the number of views you aim to achieve, expected website traffic, estimated
lead conversions, and customer engagement through support to encourage repeat
purchases.
Objective 2. Determine
the number of views you aim to achieve, expected website traffic, estimated
lead conversions, and customer engagement through support to encourage repeat
purchases.
(Set clear expectations for views, website traffic, lead
conversion, and customer engagement efforts to drive repeat business.)
Strategy: How do you get there?
Objective 1. Decide
which channels to use, define the target audience, and create specific content
based on analytics—either from previous experiences or new market testing
(trial and error).
Objective 2. Decide
which channels to use, define the target audience, and create specific content
based on analytics—either from previous experiences or new market testing
(trial and error).
(Select effective marketing channels, identify target
customers, and craft targeted content using analytical insights from past data
or emerging trends.)
Tactics: Details of how you will
get there
Objective 1. Develop
content that directly addresses the situational analysis, ensuring it aligns
with RELEVANT themes. Apply tactics step-by-step until you’re confident that
your goal will be achieved.
Objective 2. Develop
content that directly addresses the situational analysis, ensuring it aligns
with RELEVANT themes. Apply tactics step-by-step until you’re confident that
your goal will be achieved.
Action: Guarantees excellence of
plan execution
Objective 1. Implement
content calendars for both objectives. At this stage, focus only on organic
content to build a follower base.
Objective 2. Paid
promotion recommended to attain maximum leads after the 1st week. Remember, minimum follower base must be around 11-12 million for your campaign to see
effective results if your planning organic. Or else, choose paid promotion or
earned promotions to get a customer base.
Control: How do you know you’re
getting there?
Evaluate performance throughout the summer using social
media dashboards and listening tools to gauge the performance.
Proponents of SOSTAC
Situational Analysis:
Where you are now?
PESTLE
Customer Analysis
Competitor Analysis
Trend Analysis
SWOT
BCG
Porters
Others
SMART Objective:
Mission
Vision
KPIs
RACE Goals- Where do you want to go
Strategy:
How do you get there?
Gives directions to Tactics.
Tactics:
Takes directions from Strategy
Action:
How well its executed with Content Calendars
Train the staff
Explain why you changed the plan
Control:
Monitor KPIs daily
WORKINGS (Click here to view/download)
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