5 'P's" for Your Social Media Marketing Success
By: Jeremy Juhasz

Small businesses and nonprofits face a different set of circumstances when it comes to social media marketing than their larger for-profit counterparts, namely, smaller budgets, fewer employees and a greater priority on traditional forms of marketing.

For those charged with marketing, the biggest first step toward making social media an integral component of the plan may be convincing your organization. Despite widespread use of social networks for personal connections, the leadership of smaller organizations often questions its effectiveness as a marketing tool and whether they'll see a return on their investment.

I've developed and implemented social media strategies for a variety of organizations -- for-profits, nonprofits, and individuals. For all of them, I've discovered, when it comes to social media, it's important to remember the 5 P's:

1.) Plan - Identify what you hope to accomplish and create a strategy to take you there. Too many nonprofits and small businesses dive into social media because they "have" to and don't consider a plan of action before they do so. Make a list of what you want to accomplish. Is it to gain more donors? Get a higher attendance at your annual fundraiser? Increase sales?

Make it a priority to identify goals so you can create the social media strategies for meeting them.

2.) Patience - Nothing happens overnight. It takes time to develop relationships and establish credibility with your brand and your target audience. Over time, events and a steady pace will win out. Rushing leads to mistakes.

The type of patience I'm referring to is a long-term mindset. When day-to-day activities seem arduous and, at times, unfulfilling, know that each day builds to the greater goal. March on.

3.) Persistence - You must be stubbornly committed to your goals and your strategy. Keep plugging away and give your plan a fair amount of time and analysis before you pull the plug. If you know the plan is a good one, it's not a good ideas to panic and change course simply because you're not seeing results as quickly as you'd like.

That said, circumstances change, not every strategy works, and you need to also be willing to recognize that it is time to try something new.

Be persistent in implementing your plan and in monitoring whether you're reaching the objectives that will take you to your goal.

4.) Pay (what you can) - These days, especially on Facebook, it's a pay-for-play landscape. Pay where you can, if you can. The results can provide the spark you need to drive a specific campaign or to increase your overall visibility to your target market. It can also be a very affordable alternative to other digital advertising options.

5.) Prioritize - I can't stress enough the importance of time management. If your marketing staff consists of only one or two people, it's essential that you stay on top of your social media strategy by prioritizing your quarterly, monthly, weekly and daily objectives and goals. Nonprofits and small businesses face countless new daily challenges. Sometimes we lose track of what's most important. Take the time to identify those tasks critical to your success and make them a priority.

You can succeed with social media even if your organization doesn't have the brand recognition of a multi-billion dollar corporation. If you remain even-keeled and set realistic goals, the return on investment will follow.

About Jeremy Juhasz

Jeremy Juhasz is a social media strategist at EMSI Public Relations and a panelist for the Tampa Bay Marketing Summit, (www.tampabaymarketingsummit.com) on Aug. 8. Jeremy has  years of experience managing social media marketing for the nonprofit sector, including launching social media and online strategies for  Feeding America Food Bank and Goodwill affiliates. His multi-media background includes work as a newspaper reporter and as a marketing professional.  He's a graduate of Alfred University and attended Kent State's School of Communication and Information, public relations.

You don't have to come from a wealthy family, have the next billion-dollar idea or work 18-hour days to become rich, says self-made millionaire Mike Finley.

"You don't have to be extraordinary in any of the headline-grabbing ways; what you need is the self-awareness to avoid wasting money on short-term, retail-priced happiness," says Finley, author of "Financial Happine$$," (www.thecrazymaninthepinkwig.com), which discusses his journey to financial literacy and the principles and practices that allowed him to retire from the Army a wealthy man.

"Money used wisely can give you the financial security associated with the good life."

Finley lists 10 of the most common money traps that lead to consumers going broke:

•  Make the appearance of wealth one of your top priorities by acquiring more stuff. The material trappings of a faux lifestyle, as seen in magazines and advertisements, are not good investments either financially or in long-term happiness.

•  Work a job you hate, and spend your free time buying happiness. Instead, find fulfilling work Monday through Friday so you're not compensating for your misery with expensive habits during the weekend.

•  Live paycheck to paycheck and don't worry about saving money. Live for today, that's all that matters. Have you already achieved all of your dreams by this moment? If not, embrace hope and plan for tomorrow. (Appreciating your life today doesn't require unnecessary expenditures.)

•  Stop your education when someone hands you a diploma; never read a book on personal finance. Just about any expert will tell you that the most reliable way out of poverty is education. Diplomas shouldn't be the end of learning; they should be a milestone in a lifetime of acquiring wisdom.

•  Play the lottery as often as possible. While you're at it, hit the casino! Magical thinking, especially when it comes to money, is a dangerous way to seek  financial security.

•  Run up your credit cards and make the minimum payments whenever possible. Paying interest on stuff you really don't need is a tragic waste of money.

•  When you come into some free money, spend it. You deserve it. By that logic, you're saying that a future version of you doesn't deserve the money, which can be multiplied with wise investments.

•  Buy the biggest wedding and the biggest ring so everyone can see just how fabulous you really are. Nothing says "Let's start our future together" like blowing your entire savings on one evening.

•  Treat those "amazing" celebrities and "successful" athletes as role models. Try to be just like them whenever possible. As far as we know, there's only one you the universe has ever known. Don't dilute your unique individuality by chasing an image.

•  Blame others for your problems in life. Repeat after me: I am a victim. The victim mentality is an attempt to rationalize poor habits and bad decision-making.

"If you're feeling uncomfortable with your financial situation, don't just sit there in a malaise of 'If only I had more money,' " Finley says. "Instead, use it as motivation for a better life; that's why the discomfort is there."

About Mike Finley

Like most Americans, Mike Finley was raised with no education in personal finances. Joining the Army out of high school, he realized he didn't understand money management and began the task of educating himself. After 26 years in the service, during which he practiced the principles he learned, he retired a millionaire. Finley is the author of "Financial Happine$$," (www.thecrazymaninthepinkwig.com) and teaches a popular financial literacy class at the University of Northern Iowa. He donates much of his time to additional groups, including Junior Achievement of Eastern Iowa and organizations serving veterans and current military personnel.

As people get closer to the age when they hope to retire, traditional wisdom calls for moving into more conservative - safer - investments, such as Treasury bonds and many fixed-income mutual funds.

"The problem is, what is 'safe' for one person may not be 'safe' for another, given the amount of money in their portfolios, how their investments are allocated, and what their retirement lifestyle goals are," says  financial advisor Haitham "Hutch" Ashoo, co-founder with advisor Chris Snyder of Pillar Wealth Management, LLC, (www.pillarwm.com).

"Some investors believe Certificates of Deposit and U.S. Treasury bonds are safe investments because of their backing, but the income they generate is so low, they may not be safe in terms of producing the income you need for 30 years of retirement."

A better approach is to analyze how much investment risk you must assume to achieve what's important to you, says Snyder.

"Your lifestyle goals determine your risk level, and your portfolio should be an allocation of stocks, bonds and cash that correlates directly with the risk level you need to assume."

Snyder and Ashoo, co-authors of "Four Factors The Affluent Must Know To Avoid Financial Disaster And Secure Their Dreams," available as a free download at(www.pillarwm.com), offer these tips for building a portfolio you likely won't outlive:

•  Don't aim for earning a certain percentage rate simply because you consider it an acceptable one.

Once you've identified your retirement lifestyle wants and needs, you can calculate how much they'll cost. Subtract your guaranteed income from sources like Social Security and pensions, and the remainder is what your portfolio will need to generate, adjusted for inflation, for the rest of your life, Ashoo says.

"Setting a goal of earning a 5, 6 or 8 percent return doesn't work because the markets fluctuate each year and are unpredictable," he says. "It's better to evaluate inflows and outflows during retirement and adjust for inflation. That process helps determine how much money you'll need at certain points in your life, and the returns you'll need."

•  Market timing and chasing hot managers is not the way to build a lasting, long-term portfolio.

Modern Portfolio Theory, developed by Nobel Prize-winner Harry Markowitz, tells us that 90 percent of the return in your portfolio is based on the allocation of stocks, bonds and cash, Snyder says.

"The percentages you allocate between these asset classes is far more important than timing the market or chasing around for the number one fund," he says. "Wall Street prefers you spend your time focused on the wrong thing.

•  Don't automatically spend when your portfolio earnings exceed expectations.

When your portfolio is growing at a rate that gives you a good amount of confidence you won't outlive your money, are you safe to spend more when gains exceed your expectations?

"Everyone has different priorities - some may want to increase spending to enhance their lifestyle while others may take the opportunity to lower their risk even more, so they can sleep better at night," Ashoo says.

He and Snyder say clients in that situation this year have responded in varying ways. Some have paid down mortgages with the extra money, moved up their plans to retire, traveled more or lowered their portfolio risk.

"What you need to remember is that gains can be taken away as quickly as they appeared," Snyder says.

About Haitham "Hutch" Ashoo and Chris Snyder

Haitham "Hutch" Ashoo and Chris Snyder are co-founders of Pillar Wealth Management LLC, (www.pillarwm.com), of Walnut Creek, Calif., specializing in customized wealth management advice to affluent families. Their unique five-step consultative process for new clients ensures they have a deep understanding of clients' goals. With a combined 51 years of experience, they are the authors of numerous published works, have addressed thousands of investors nationwide, and have been interviewed on radio shows across the country.