A business consultant says there are a lot of things you can spend money on in an effort to increase revenue, but when push comes to shove, unless its spent on either marketing or sales, its likely mostly just an expense.
The advice comes from Business Partner Franchising COO Brian Miller, who says simply, “There are only two areas that create revenue for a company — marketing and sales. All other activities contribute only to expenses.”
Miller believes a key factor underlying both approaches to bringing in cash is a Unique Selling Proposition (USP) – something that makes what you’re company is offering better than what your competitors are offering.
Of course, the USP is useless unless it is effectively communicated.
“A USP defines what makes you unique and more valuable in the market,” Miller commented. “In marketing, there is the old adage — differentiate or die. I help clients establish a USP that will drive business and sales and leave an indelible mark for their brand.”
The idea is to create buzz and drive traffic to the point of sale whether it be a traditional brick and mortal location or a website. Miller also suggests using a USP to “encapsulate the essence of the brand” – to define what it is about it that sets it above the others.
Miller is associated with Business Partner Marketing Coach, as service that helps businesses put his ideas into action.
RBR-TVBR observation: This is solid advice that broadcasters can put to use when dealing with their own advertising clients who may be struggling with their messaging. If your station can honestly define what’s special about a client and help the client effectively communicate it to the local consumers, everybody is a winner.