Kevin Price of the Price of Business and Co-host Jason Smith interviewed Alexandre Gomez, CFO of Magency Digital, a mobile software company that specializes in audience engagement. Magency Digital is a 4-year old company that has experienced 200% growth each year since its inception. Mr. Gomez discussed how companies could maximize on engagement while reducing operating costs through the use of a highly-interactive application. In a discussion on ROE (return on engagement), Mr. Gomez described how his business creates a permanent engagement with event participants, maximizing on their reaction to further grow the business. Magency has grown from offering event solutions to also providing training industry solutions.
Magency Digital as Jason mentioned, describes themselves as “a team of interaction and engagement specialists”. The international business currently employs 50 people and services events that range from 50-200 or more attendees. Jason was interested in learning about how a 4-year old company could experience 200% growth year after year. Mr. Gomez identified regular training as a factor in maintaining profitability and encouraging growth. He noted that while sales is important in the role of a CFO, managing operating costs is key. Mr. Gomez also shed light on the significance of Business Development, Key Account Managers, and the CEO in helping to manage budgets and understanding the importance of keeping operating costs down.
While some companies focus primarily on examining large expenses as Jason mentioned, Alexandre Gomez zeroed in on all expenses, executing a full expense review in all areas. How do you garner support from inside of the organization to get on board with cutting operating costs? Mr. Gomez suggested getting all department stakeholders involved, helping them to understand why reductions are beneficial and what their responsibility is in the successful implementation. He mentioned that on-going training helps departments to fully understand their role in maximizing profits. Listen to Alexandre Gomez, CFO of Magency Digital discuss how one business grew to 200% profit for 4 consecutive years on The Price of Business with Kevin Price and Co-host Jason Smith.