The role of the Chief Revenue Officer (CRO) is experiencing unprecedented demand right now. Resources on why a CRO is important are gaining traction, and CRO job postings are increasing. So, why are so many companies looking to hire a CRO for the first time?

Over the past last year, the B2B space has likely made about ten years' worth of digital adoption progress. CEOs are still trying to do it all themselves, but with advancement happening faster than ever before, they can no longer keep up, making CROs critical in a post-pandemic world.

No industry has been spared by the disruptive effect of this global pandemic. Some B2B organizations have been negatively affected by supply chain disruptions, stifled sales models, and shifting buying patterns. Others have seen exponential growth due to the emergence of new markets, shifted buying patterns, and grappled with scale-up operations. But businesses experiencing a boom are not in much better shape right now because they are also managing unprecedented revenue challenges.

The pandemic has not created a need for a CRO; it has accelerated the need.

Did you notice the traditional year-end business predictions for 2021 never happened at the end of 2020? This seasonal staple was thrown out the window, like many of our routine practices last year.

Everyone seemed more focused on making it through the year than trying to anticipate what might be coming next. (With everything that January threw at us, perhaps that was a wise decision!)

However, now that we are firmly into 2021, it seems a little safer to look forward. With that comes an increased focus on tackling difficult leadership challenges to move organizations forward.

To succeed in 2021, business leaders must steer teams away from an unhealthy focus on the past, reconcile employee desires with business needs, establish new revenue models, acquire new customers using different methods, and amend strategic planning initiatives.

There are an endless number of studies that indicate that remote workers are more productive and happier working from home – some reporting rates as high as 94% of those surveyed claiming to “as productive” or “more productive” than working in the office. Furthermore, data shows that they also work more hours and have higher job satisfaction. Erin Nelson summarizes this perspective when she says, “Remote workers demonstrated a productivity boost because they eliminated distractions like commuting into the office, changing their work hours to fit their schedules, and worrying about being late. Remote workers found it easier to concentrate at home.”

And while that’s (apparently) the majority opinion, we’ve seen firsthand how very untrue that is for a large segment of remote workers – workers with children who are at home with them. Just ask Aaron Blank. His recent article “Dear Working America, Please be Kind to Working Parents Right Now” sheds some light on how the rest of the workforce is struggling right now.

But children are not the only distractions at home – there’s also pets, partners, laundry, and ourselves.

2020 saw the biggest shift in B2B buying, selling, and marketing in recent history. What was originally speculated to be a temporary pivot ended up being a cataclysmic shift in how revenue is generated in B2B organizations. The trends and strategies that emerged have permanently altered the future of B2B buying.

The biggest change to the B2B landscape over the last year has been the move to digital selling strategies. Digital is now the preferred contact and buying method for B2B buyers to do research, order products, and schedule service. And like many of the changes we have seen arise in 2020, the digital trend does not appear to be going anywhere any time soon. In fact, 80% of B2B buyers want to stick with digital interactions (remote interactions and digital self-serve) in 2021 and beyond.

Does your company have a CRO?

If you answered “no” or “not yet” that likely means your organization simply does not have someone with the title of Chief Revenue Officer (CRO) right now. You see, asking whether you have a CRO is a trick question because even if a company does not have a formal CRO role, someone is acting in the capacity of a CRO.

Every for-profit company has someone overseeing sales and marketing functions at a high-level to control the overarching revenue strategy. So, let me rephrase: Who is the CRO at your company?

Executive leaders know there is always a push to generate more profitable revenue. However, the end of a fiscal year creates added pressure as companies strategize and plan for the coming year.

Your company’s success next year depends on the planning you are doing now.

So, what does your strategic revenue plan look like for next year? Ask yourself:

• Where will revenue come from?
• How will you prune your client base and modify offerings to increase profitability?
• Can you trust your forecasts and existing sales processes, or do they need to be updated?
• How will you encourage cross-functional efficiencies between sales and marketing?
• Who will provide unbiased advice to leadership when big decisions must be made?

An effective revenue plan answers these questions and more.

How is your company performing right now? How is your team handling challenges? How are you doing?

Are you hitting a slump?

Do you know you are not alone?

Aisha Ahmad, the highly acclaimed Professor of Political Science at the University of Toronto and global crisis expert, recently tweeted about something called the “six-month wall.” She gave a name to a phenomenon many individuals and businesses have been experiencing and a face to what we can expect moving forward. In case you missed the thread, here it is:

The 6 month mark in any sustained crisis is always difficult. We have all adjusted to this “new normal,” but might now feel like we're running out of steam. Yet, at best, we are only 1/3 the way through this marathon. How can we keep going?

Any parent with young kids knows Daniel Tiger is the ultimate authority on every lesson you need in life. The PBS successor to Mister Rogers’ Neighborhood, Daniel Tiger’s Neighborhood features a young tiger (unsurprisingly named Daniel) and his family. He confronts life’s difficult challenges with emotional maturity, self-awareness, and singing.

So
Much
Singing!

But, unlike most children’s TV, you won’t end up hating it. In fact, you’ll end up loving it because the songs are so catchy and soothing that you can draw on Daniel Tiger’s extensive catalog of compositions to guide your child through basically any daily struggle.