A Hidden and Underused Marketing Asset (HUMA) is what you already own or have in place that either you don’t realize you have or you are not using effectively.
Most businesses that have been in operation for at least two years have HUMAs that are just sitting there unused, unpublicized and, therefore, a waste of existing resources.
This is a shame because in most cases, bringing those HUMAs to the surface can result in instant sales and profit increases for little or no additional investment. This concept is so important and powerful that I created a complete workshop around it.
The reason this is important is that in nearly every case, repositioning, reformatting and revamping unseen and underutilized marketing assets can generate instant newfound revenue with little or no additional cost.
The HUMA review process usually also reveals holes and flaws in a client’s marketing process that, when plugged and fixed, can instantly reduce marketing expenses and, therefore, increase profits.
There are only four marketing-related ways to increase sales and profits:
- Get more customers/cients
- Increase purchase size
- Increase purchase frequency
- Lower marketing costs
Most businesses spend most of their time, energy, and resources on getting more customers. While this is important, most businesses neglect the other three, and in so doing, leave thousands if not millions on the table.
The number and potential of finding HUMAs will depend on your business structure and how long you have been in operation.