One of the most important steps in business development is building an effective marketing strategy. The first thing you need to focus on when developing your strategy is determine which methodology you wish to utilize, and one of the most popular of these is the SOSTAC methodology. Below I will break down what SOSTAC is, what it means, and how it can help your business grow successfully.
Situation Analysis – Understand your situation by researching into the area, industry landscape, brand, consumer, competitors.
Objectives – More than just goals. What are your research objectives for the campaign? Business objectives? Marketing Objectives?
Strategy – How are you going to achieve these objectives? What tools and techniques are you going to use? Beginning to plan the campaign in this part.
Tactics – How EXACTLY will you achieve the objectives. Looking more precisely at what you will be doing. Is it changing perception?
Actions – the actual tangible part of the campaign. Is it online/offline? What channels? What content? How are you targeting? SEO? What are you putting on owned/earned/Paid media?
Control – how are you going to measure and optimize the campaign. Although the last part of methodology you should be measuring and optimizing from start to finish.
If you want to learn more, there is no shortage of amazing content on Google (or Bing if that’s your thing). So spend some time and study for a little more detail than I just wrote in a few minutes.