It is a useful acronym which outlines the approach you should take when thinking about developing strategies to reach your target market.
P is for People: Who are you trying to reach? Who’s your audience? Where do they hang out? What’s the best way to reach them?
O is for Objectives: What exactly are you trying to achieve? Increase in sales? Brand repositioning? Better customer service? And how will you measure your success?
S is for Strategy: How will relationships with your customers change? What will be expected of you as a company? How will you handle negative comments?
T is for Technology: So now you know who, why and how, you should have a good idea of what to use. Wikis? Facebook? Twitter? Flickr?