5 Traits of Game-Changing Chief Revenue Officers
Learn how CROs can capitalize on new revenue opportunities.
What is a chief revenue officer?
What does a chief revenue officer do?
Here are the fundamental responsibilities of a CRO.
- Grow. Chief revenue officers carry an enormous weight: the pressure to grow. To a sales leader, growth is narrow: hit quota. To a CRO, growth is broad and holistic: open up new paths to revenue and build the machinery to get there.
- Align. CROs have a hand in everything that has to do with revenue. That’s … everything. They spend a lot of their time getting everyone to row in the same direction, from their peers in the C-suite to teams across the company.
- Plan for the future. Chief revenue officers are responsible for projecting confidence and steadiness to the board. They’re data-driven, they live for predictability, and they’re stressed by any distraction that keeps them from “the plan.” To make the plan a reality, CROs use every tool they’ve got — analytics, strategy, and the best talent they can find.
What are the responsibilities of a chief revenue officer?
It’s 9 a.m., you’re a CRO, and the coffee is kicking in. Here’s what’s on the agenda today:
- Prepare for a board meeting
- Hire, train, retrain, and maybe, sadly, fire
- Review the forecast and manage revenue that’s at risk
- Execute the go-to-market strategy for products and pricing
- Join the most strategic deal calls to influence deal structure
- Focus on scaling operations and bring in the right technology tools to help
- Create focus and collaboration with meetings across the C-suite and with direct reports
What does a successful chief revenue officer look like?
Trait 1: Visionary
Trait 2: Data-obsessed
CROs own the go-to-market strategy. They drive pricing and product structure, and they set the buyer journey. The fuel for these decisions is data.
Chief revenue officers need to study customer behavior to answer important questions: How can we make it easier for customers to buy? Should we enter new revenue models, like selling subscriptions? How can we target the right customers at the right time (and on the right channel) for upsells and cross-sells?
To answer these questions, many CROs turn to customer relationship management (CRM) software to bring every team — and every team’s data — together around the same customer view.