Typically, a person taking on the chief revenue officer role has a minimum of at least five years of direct sales experience. This personal experience is important as it lays a foundation to lead a sales force with success. With growing revenue top of mind, the CRO considers how to tackle each one of their responsibilities. Unfortunately, there are often knowledge gaps as technology, culture and the marketplace quickly advances.
I have drilled deeper into the responsibilities of a Chief Revenue Officer to offer you resources to overcome barriers and leap forward to grow revenue:
1) Create a standardized outreach for current and future clients and coordinate its implementation across sales channels, client management, and marketing and communications
Resources:
- How to Get More Clients Back >
- Jumpstart Plan to Fill-the-Funnel >
- The BEST Client Identifier Worksheet >
2) Develop growth strategies with the executive team and board of directors
Resources:
- The 5 Essentials for Profitable Revenue Growth >
- 6 Sales Methodology Approaches Your Competition Might Be Using >
- Growing Profitable Revenue - The Difference Between Manufacturing and Service Organizations >
3) Create accountability within the company by developing appropriate metrics and coordinating compensation and promotions with these metrics
Resources:
- The Advantages of Leading Indicators vs. Lagging Indicators >
- The Most Effective Sales Compensation Models to Keep a Team Motivated >
- Sales Compensation Plans - Examples, Templates & Software Options >
- 6 Sales Methodology Approaches Your Competition Might Be Using >
4) Prospect and close relationships with key target clients
Resources:
- Top 3 Ways Executives Can Improve B2B Sales >
- Sales-as-a-Service Comparisons & Insights (Can you outsource sales?) >
- Improve Your Sales Team's Closing Rates >
5) Monitor the revenue pipeline and leads, adjusting as necessary to create sustainable growth
Resources:
- "The Pros and Cons of Our 5 Favorite CRM Software Systems" >
- 4 Amazingly Simple Steps to Improve Lead Conversion and Increase Sales >
- How to Improve B2B Sales Closing Rates in the Next 30 Days >
- The Resultist Sales Funnel Map >
6) Establish both short-term results and long-term strategy, including revenue forecasting
Resources:
- Every Business Needs a Predictable Revenue Machine! >
- Free Business Growth & Profit Calculator >
- Learning the 3P Strategy Framework:
Purpose-Principles-Priorities Presented by Robbie Bach > - Revenue Generation Assessment >
- Improving the Accuracy of a Sales Forecast – Myth or Reality? >
7) Monitor the strategies and process across the revenue cycle from customer acquisition to engagement to success
Resources:
8) Fill management gaps by building and training individuals and teams in Sales and Account Management
Resources:
- A Step-by-Step Guide - Build a Sales Team Talent Pool >
- The Pros and Cons of Outsourcing vs In-house >
- How to Retain Your Top Performers >
- Sales-as-a-Service Comparisons & Insights (Can you outsource sales?) >
9) Develop and implement robust sales management processes – pipeline, account planning, and proposals
Resources:
10) Drive a “lean startup” style environment of constant experimentation, innovation and learning
Resources:
11) Leverage customer research (quantity and quality) to provide strategic leadership for brand architecture and positioning
Resources:
- How to Provide Strategic Leadership by Leveraging Customer Research >
- Revenue Development Action Plan >
- 4 Steps to include in a Successful Leadership Action Plan >
The resources above reference the responsibilities of a Chief Revenue Officer. While there is not one job description that fits every company, all companies will find great value in them.
If you are interested in the extensive description of a Chief Revenue Officer, you can get the free eBook here. I am happy to say that It has proven to be a great resource to executives around the world.
These resources serve up ideas and opportunities, but you may need answers more specifically related to your company, team, and mission. I am happy to have a conversation to share what has worked for others and what to avoid. Since I work hands-on in the trenches, I am very aware of the barriers, threats, and opportunities. Please contact me here.