The SOSTAC® model is a powerful marketing planning model developed in the 1990s by PR Smith. The beauty of this model is that it is simple and yet effective! Any business can implement it and create marketing magic for their business.
Here is a breakdown of the steps:
- Situation Analysis – Look at where your business is now in terms of marketing. Assess the current business climate.
- Objectives – Look at where you where you want to be and what you want to achieve in your business.
- Strategy – Develop a summary of how you will achieve those objectives. How are going to get to where you need to be?
- Tactics – These are the details of the strategy, needed to turn strategic goals into a reality.
- Action – This means putting the plan to work.
- Control – Ensuring that there is some marketing measurement, monitoring, reviewing, updating and modifying taking place to see what works and what doesn’t work.