Why this matters:
Chief revenue officers (CROs) work in many different sectors, each with its own set of needs. Ideal candidates should have an adequate understanding of your organization’s products, market, and customer base, plus your sector’s specific technologies and processes. They should also have experience in helping companies solve challenges that are similar to those of your organization.
What to listen for:
- Track record of success helping similar organizations
- Knowledge of key industry trends, terms, metrics, and technologies
- An excellent understanding of your products, market, and customer base
Why this matters:
As C-suite executives in charge of revenue oversight, CROs should have extensive practical experience in sales and marketing plus a track record of success in leadership roles. Candidates need strong business acumen and fluency in business strategy, metrics, terminology, and analysis. They should be experts in collecting and analyzing data and using their findings to develop data-driven growth strategies.
What to listen for:
- Track record of success holding leadership positions
- Strong understanding of relevant data, metrics, and technologies
- Experience developing business strategies in your sector
Why this matters:
CROs grow revenue in two ways: acquisition and retention. Depending on your company's sector, products or services, customer base, and organizational goals, one of these two revenue drivers may be more important than the other. Successful candidates should understand the importance of acquisitions and retentions, and how they impact an organization’s goals.
What to listen for:
- A solid understanding of the importance of prioritizing customer satisfaction and retention
- A good understanding of which revenue driver will be more beneficial for your business
- Good understanding of customer journeys and lifecycles in your sector
Why this matters:
CROs need to coordinate the efforts of different people and departments within an organization to achieve sustained revenue growth. Candidates should follow a process that’s tailored to an organization’s unique needs and objectives. It should involve an assessment of the current state of revenue pipelines, marketing, sales, and customer base to develop data-driven strategies for optimization and growth.
What to listen for:
- Proven track record of driving business growth
- Ability to formulate, communicate, and execute actionable growth strategies
- A strategic and data-centric approach
Why this matters:
Chief revenue officers should be experts in analyzing a company’s sales, revenue pipelines, and customers to identify opportunities and areas for improvement. They should be able to use their findings to strategize and implement solutions, find new sources of revenue, and develop procedures that align with organizational goals and customer needs.
What to listen for:
- A track record of driving nonlinear growth strategies
- Experience integrating revenue growth strategies into all aspects of an organization
- Ability to identify new opportunities and help organizations break into new markets
Why this matters:
Aligning sales, marketing, and customer experience for revenue growth entails breaking down silos, building effective cross-functional teams, and bringing in new people who can contribute to the organization’s goals. CROs should act as a bridge between teams and departments to enable collaboration and communication, and drive more customer-centric practices and growth-focused goals.
What to listen for:
- Experience managing cross-functional teams
- Ability to leverage an organization’s people and resources to drive sustainable growth
- Ability to effect organizational changes
Why this matters:
Defining clear, measurable goals is critical for leading cross-functional teams and ensuring effective action. CROs should be able to establish short-term goals for addressing urgent needs and long-term objectives for driving organization-wide change. They should pay close attention to metrics such as revenue target, sales, customer success, and retention.
What to listen for:
- Ability to set clear, actionable goals for themself and others
- A results-driven approach
- The ability to generate both short-term and long-term results
Why this matters:
Chief revenue officers should have broad, up-to-date knowledge of current trends and opportunities in your sector, plus an ability to direct others to capitalize on them. Ideal candidates should demonstrate innovative thinking and have a track record of identifying untapped revenue pipelines or developing strategies for creating new ones.
What to listen for:
- Up-to-date knowledge of emerging technologies
- Ability to effectively articulate the ROI and benefits of new technologies or processes
- Ability to think creatively and strategically
Why this matters:
Chief revenue officers must be able to join forces with other leaders within an organization to maximize revenue and promote long-term growth. This requires excellent communication, negotiation, and relationship-building skills, and the ability to effectively lead multiple teams and departments toward a common goal. Successful candidates will demonstrate a track record of bold action, innovative thinking, and leadership.
What to listen for:
- Experience overcoming organizational hurdles to achieve goals
- A bold attitude and the ability to exercise authority
- Ability to work with other members of the executive team
Contact a sales specialist.