The Leading Source Of Original Research And Insights On Business Model Strategy, Digital & Tech Business Models
What Is The OGSM framework And Why It Matters In Business
The OGSM framework is a means of creating a well-structured and actionable marketing strategy. Fundamentally, the OGSM framework allows businesses to first define what they want to achieve and then determine how they will get there. To provide direction for marketing teams, the acronym of OGSM (objectives, goals, strategies, measures) should be followed in sequential order. Here is a look at each in more detail.
In the first step, the overall objective should be defined. The objective should be related to the purpose of the business, or its company mission and brand values. For example, a business that offers corporate wellness training might have the objective of creating content around a healthy work/life balance.
The marketingstrategy may then seek to educate senior management on designing and implementing a wellness program across the entire organization.
To have a realistic chance of achieving the objective, it should be broken down into smaller goals. Importantly, the goals must be clear and concise and easily trackable.
The corporate wellness company might aim for 2,000 website visitors a month, with 15% of those purchasing the program through an email marketing campaign. Alternatively, the business may have a goal of directly contacting 300 other businesses per month and converting 5% of them to the wellness product.
Strategies explain how the goals might be achieved. To convert the 15% of website users into paying customers, the corporate wellness company needs to think about developing a buyer persona, hiring a copywriter, and creating targeted landing pages – among other things.
Measures help ensure that a business is moving toward its goals in a timely fashion. In other words, measures are numerical benchmarks that use key performance indicators to provide guidance on strategy effectiveness.
The corporate wellness company might need six months of email marketing to convert enough clients to be profitable. If that number of clients is 600, then the business can set a measure of at least 100 new clients per month.
Advantages and disadvantages of the OGSM framework
The OGSM framework is a short, simple, and concise one-page plan that is visible in the sense that it is easy to understand across all levels of an organization.
Goals are explicitly linked to specific actions, which increases the chances that performance standards are met.
If conditions in the market or within an organization change, the OGSM framework can be adapted to suit.
In some cases, the framework requires a degree of upfront cooperation as stakeholders negotiate competing goals and interests.
The OGSM framework also requires a large commitment of approximately 5 years, which may be unsuitable for businesses needing to react quickly to fluctuating internal or external factors.
The framework is reliant on strong leadership to ensure buy-in from all relevant stakeholders.
The OGSM framework defines actionable marketing strategies with quantifiable success metrics.
The OGSM framework is an acronym for objective, goals, strategies, and measures. As the business works through each step to create a strategy, the level of detail and specificity increases.
The OGSM framework is effective and simple to understand. But it does require strong leadership over the log-term to keep stakeholders engaged and working toward a common goal.
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.