With all of this growth, we have to foster an enthusiasm for learning the newest technologies and techniques, but also stress testing these trends to understand what has become irrelevant and what is still producing optimal results. Are your current digital assets producing the results your business needs to grow, are you keeping up with the latest technologies, are your current systems, platforms and strategies a cost center or a profit center for your business?
At Ciphers, we like to view our techniques, strategies, and technologies as either cost centers, profit centers, or investments. In your digital marketing, if you were to audit your current marketing systems, what category would they fall under?
What is a Digital Profit Center, Investment, or a Cost Center?
A digital profit center is as intuitive as you probably imagined. It is a system, process, page, or website that is generating you profit at the end of the year, not the day, not the month, but the end of the year.
Example: Company X has a Facebook page that they generate content for throughout the month and they also run lead generation ads via Facebook. After a quick digital audit, they find the following results.