Are you looking for an explanation of SOSTAC analysis? This article will give you a definition of this method and an overview of all elements it comprises.
🔝 Top SOSTAC Examples
🤔 What Is SOSTAC?
SOSTAC is a marketing blueprint for advertising strategies. It suits both traditional and digital marketing needs. Companies can even use it for social media and SEO optimization. SOSTAC analysis gives organizations a clear marketing and business plan thanks to its structured approach and universal application.
SOSTAC Model: Letter by Letter
Each letter of the abbreviation is a component of the SOSTAC model:
Benefits of the SOSTAC Marketing Plan
Companies and marketing specialists appreciate the SOSTAC framework for its structured approach. It’s a great marketing planning tool for businesses of all industries and sizes. No matter the product or circumstances, SOSTAC covers each step of an ad strategy. It’s one of the most straightforward marketing tools available.
🗂️ How Do You Do SOSTAC Analysis?
With the SOSTAC framework, companies can build marketing plans from the ground up. Businesses can create great strategies by following the steps of a SOSTAC marketing plan. We’ve listed them below for your convenience. Read them to understand the great strengths of this tool.
Situation
The company’s experts must analyze the current business situation. They should identify the strong and weak sides of the business and its employees. This information will show a clear picture of the company’s present state. During SOSTAC analysis, marketers have to evaluate the following:
- Company. The current state of the business includes the product lineup, customers, and popular items that generate the most income.
- Products. This part of the marketing mix deals with factors that attract clients to the company’s goods.
- Customer base. The analysis evaluates the current customer base and their level of satisfaction with the company. This knowledge helps marketers establish the main purchase methods and other relevant data.
- Competitors. Marketers should look at the capabilities and advantages of other firms.
Objectives
The second step is to detail short-term and long-term objectives. Long-term aims include the vision and mission of the company’s marketing strategy. Short-term ones can fall under the categories described in PR Smith’s 5S goals of digital marketing:
- Sell (sales growth).
- Serve (adding value to customers).
- Sizzle (wow factor).
- Speak (communication with clients).
- Save (calculable gains).
Strategy
At this stage, the company creates a broad picture of its future objectives. Experts should consider how to segment the market, which audience to focus on, and what message to convey for each segment. Finally, they look at how competitors conduct their SOSTAC strategies. STP is the go-to tactic for this part of the analysis.
Tactics
Professionals search for the best way to apply the strategy. They should consider several tactics for executing their course of action. Analyzing multiple options will increase their chances for success and improve the final result. If marketers skip this part, they won’t be able to carry out a strategy most efficiently.
Action
This section covers specific tools that help achieve a plan. Experts should select people responsible for executing a plan. These appointees should know their roles and the goals they must attain. At this stage, marketers also determine the right channels and content for a chosen action plan.
Control
When everything is in place, experts need a way of tracking set goals. To achieve this, marketers need to check the progress regularly, for example, every week, month, or quarter, depending on the timeframe. Some common techniques include KPIs, web analytics, usability testing, reports, and customer surveys.
As you can see, SOSTAC isn’t a very complicated tool. With the right approach, companies will harness the benefits of their marketing strategies.