What Should Your CRO Do?
The Chief Revenue Officer (CRO) plays a pivotal role directly influencing the future of a company, and covers new business sales, installed client base sales, marketing, and partner strategy. There are a few defining traits of a good CRO, but with refinement and mentoring from Robinson Ventures, those traits can make you a great CRO.
Trait 1: Visionary
The chief revenue officer owns the company’s outlook. They need to be confident and aggressive on the one hand, steady and predictable on the other. This involves more than just hitting the numbers. It means a combination of prediction and flexibility to a question every company asks themselves, "What is the company’s vision for growth and possibility?"
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.
CROs 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?
Trait 3: Passionate about building teams
CROs are seasoned executives. They grow revenue, sure — but they also grow people and culture, believing that a rising tide lifts all boats. They spend a lot of their time on mentoring their teams, and they’re motivated by building a workplace that excites people to do their best.
Trait 4: Cool under pressure
CROs are distinctly “on the hook” compared to their C-level peers, and they hold the most accountability to the board. It’s no wonder that this role has such a short average tenure (2.5 years). A successful CRO can take this burden on and thrive. The benefits don’t hurt — not-so-shabby compensation in stock and equity, the pride of winning in the market, and the chance to grow an effective team and a great company.
Trait 5: Nimble With change
For a person so driven by consistency and predictability, a CRO needs to be prepared to deal with some big shifts at the same time. Regardless of platform or service CROs need to be prepared for whatever wave is next to sweep the marketplace, and how to best utilize it to create revenue.
“Teaching is the new selling. Becoming a teaching organization takes a commitment. It’s a cultural change. It doesn’t mean you no longer sell – it’s how we sell those changes.”
– Jim Keenan, CEO & President at A Sales Guy
Combining all these traits, along with some intuition creates a potent CRO who can help change the culture and trajectory of a company. Let Robinson Ventures help start your journey to becoming an efficient, high performing CRO today!
