Approaching social media strategy using the SOSTAC framework
SOSTAC® (one of my favourite marketing frameworks) was developed in the 90s by PR Smith, and is championed by digital marketing guru Dave Chaffey of Smart Insights.The framework can be used to help plan all aspects of digital marketing campaigns, but the below demonstrates the basics of how it can be applied to a social media proposal, marketing plan of a business case.
SOSTAC® stands for:
- Situation – where are we now?
- Objectives – where do we want to be?
- Strategy – how do we get there?
- Tactics – how exactly do we get there?
- Action – what is our plan?
- Control – did we get there?
Using SOSTAC to create a marketing plan
The approach outlined can work across B2B and B2C.This is just a taster of the approach – more blogs will follow with more detail for each area.
- Purpose of presentation/document
- Objectives and strategy overview – statement and key objectives
- Key strategic risks
- Key financial information
Situation analysis – where we are now
Products and services
- Product info
- Services info
- Market place analysis
- Competitor analysis:
- Competitor landscape / positioning
- Channel structure
- Content strategies
- Volumes (audience, mentions)
- Current channel audit
- Data (social, website) analysis
B2B & B2C listed out here
Quantification of audience
- Targeting opportunities / volumes
- Validating of channels selection
Objectives – where we want to be
- Business objectives
- Marketing objectives
- SMART goals, by channel, to support objectives
- 1, 2, 3 year
- Budget and AMC (allowable marketing cost i.e. we can spend £3 per customer)
Strategy – how we’ll achieve our objectives
- Audience segmentation – marketing personas (done during foundation stage)
- Proposition by audience
- Online proposition
- Customer journey flow
- Creative strategy
- Channel strategy (how it all fits together)
- CRM strategy (database and email comms)
- Social strategy
- Content marketing strategy (Inc. SEO)
Tactics – what we’ll do to get there!
- Channel set-up/updates based on strategy
- Website updates based on strategy
- First-year plan
- 90-day plan
- Editorial calendar creation
- Events calendar creation
- Paid media plan
Business impact – what we’ll need to deliver on our strategy
- Team members
- Channel set up
- Ongoing investment
- Correct team structure to deliver
- Ongoing team required to run channels
Risks – what we need to look out for
Showing risks, probability, impact, and mitigation
- Crisis management
Control – Measuring success
Budget – the investment
Marketing and events budget by month
- Split by channel
- Media investment
- Showing expected return by channel
Customer LTV (lifetime value)
Looking at costs of acquiring new customer, v’s retaining a customer and the investment in retention.
Allowable marketing cost per sale (B2B, B2C), budget and proposed sales
- Channel measurement based on objectives
- Reporting dashboard creation
- Testing Strategy
Infographic courtesy of Smart Insights, SOSTAC® marketing planning model