Posts related to B2B marketing and sales

Chief Revenue Officer Success – The First 90 Days

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Marketing and Sales

Written with contributions from Ed Funaro

As growth focused companies realize the critical synergies required across the marketing, sales and customer success functions, they are increasingly recruiting a Chief Revenue Officer (CRO) to lead the way. Yet many CROs fail without a properly defined role and an adequate onboarding process. It is vital to ensure CRO success.

A Chief Revenue Officer (CRO) is responsible for a company’s revenue streams. He/she has the ultimate accountability for driving revenue growth. The role is clearly cross functional. The CRO oversees and aligns revenue-generating departments: Marketing, Sales and Customer Success. It is a challenging role. The average tenure of a Chief Revenue officer working at the same company is incredibly brief – only about 18 months, according to an annual survey from CSO Insights.

The first 90 days are critical – Whether a company makes money rests with the CRO. Expectations are that the CRO will have about one quarter or 90 days to prove they can meet management’s expectations. As Michael Watkins points out in his top selling book The First 90 Days.

 

What are the attributes of a successful Chief Revenue Officer?

Market Maker: A CRO works closely with the executive team and others to craft and communicate the company’s vision and then transform that vision into a long-term strategy for pioneering new markets and opportunities.

Leading From the Front: A CRO must be able to see and clearly communicate the company vision and the revenue strategy across all relevant functions and ensure the right goals are defined and met.

Business Acumen: As a business leader first, a CRO must regularly measure and analyze productivity and effectiveness, form strategic product road maps, create market positioning and competitive advantages, and determine budget trade-offs with a goal of continually improving and developing predictable and sustainable results.

Informed Arbiter: The best CROs understand and embrace the differences between marketing and sales, while at the same time establishing processes to ensure their coordination across the full revenue cycle to ensure the greatest possible revenue growth.

Data and Metrics-driven: The right CRO creates a culture of accountability by setting the right metrics and tying company performance, compensation and promotions to tangible results.

Results-oriented Accountability: A CRO assumes a long-term, integrated perspective while also striving to drive quarterly revenue results – he or she commits to short-term results, forecasts future revenue, and takes accountability for both short-term success and longer-term strategy.

 

How do you measure Chief Revenue Officer success?

The Chief Revenue Officer is responsible for all aspects of the Revenue Architecture. So what does success look like? Here are success outcomes for each of the 9 revenue architecture dimensions.

Markets and buyers are clearly identified and segmented and buyers and influencers are fully understood.

Valued product and service offerings are created, defined, priced and articulated for maximum ROI in each market.

Go-to-market strategy is continuously evaluated and selected to provide the most effective and profitable channels for distribution and buyer engagement in each market segment.

The Brand presence effectively delivers on the brand promise and is clearly and consistently expressed across all brand touchpoints.

The revenue technology stack enables marketing, sales and customer success and fully supports a seamless end-to-end buyer experience.

The revenue operating model is designed, sized and managed based on business requirements. The right organization structure and closed-loop process enables revenue performance at the right cost of sales.

Marketing execution generates buyer awareness and engagement and is analyzed and refined to isolate the activities that generate the greatest ROI

Sales execution predictably and actively engages qualified buyers with the right activities and opportunities are orchestrated for maximum close rates and revenue.

Customer execution delivers a complete feedback loop and ensures customer success, satisfaction, retention and expansion.

At Revenue Architects, we specialize in helping growth companies with CRO success. We help companies envision, enable and execute their revenue architecture for accelerated, predictable and sustainable revenue growth. Our fractional CRO services and 90-day success plan helps companies build the foundations they need while accelerating marketing impact, sales volumes and velocity. Contact us for a tailored briefing.

Chief Revenue Officer Role Description

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Chief Revenue Officer

The CRO is Responsible for Predictable and Sustainable Revenue Growth

This post is updated. It was originally published in July 2016

Today, companies recognize the need for a company-wide revenue focus and a more integrated approach across marketing and sales. The CRO oversees the traditional responsibilities of the VP of Sales and the Chief Marketing Officer and is a member of the senior team overseeing go-to-market strategy and execution. The CRO is  responsible for aligning company resources, defining differentiated go-to-market strategies and delivering on the company’s revenue performance goals.

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Professional Selling with LinkedIn

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Professional selling is senior selling. It may be a seller-doer model, as in consulting, or an expert-driven sales model for high value products and services. Professional selling is not about directing a junior team of salespeople, it is about senior people doing the selling – establishing their personal brand, actively building a network and engaging both existing relationships and new prospects with thought leadership and insights.

Clearly, LinkedIn is an established resource for professional sales. It helps senior professionals find and engage with specific prospective clients or buyers with personal 1:1 interaction, establish professional credibility and share content and resources to nurture and develop prospects. It also offers paid options to build awareness and encourage lead conversions.

So how can senior professionals take advantage of LinkedIn? You can simplify it with three steps (and a few sub-steps). 1. Develop a strategy, 2. Establish the systems you need, 3. Execute your program(s).

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Revenue Growth Architecture

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Accelerated, predictable and sustainable revenue growth requires alignment around an architecture for marketing and sales and a commitment from the senior team.

Coordination for buyer engagement across the full-funnel is vital.  A realistic evaluation of capabilities and alignment on revenue strategies is the first step in building a revenue organization to capture customer value and for rationalizing equity and debt investments.

We are working with a $10M B2B tech company that is looking to get to the next level of accelerated, predictable and sustainable revenue growth.  The company has been in business for over 10 years, offering a variety of managed services, support services and applications to support IT Infrastructure requirements.  They have about 350 active clients that contribute to the companies ARR revenue base. The customer base is loyal with low attrition and there remains good demand for additional services resulting in a continuous pipeline for “up-sell”.

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Lorman Education: Using Digital and Social Media to Acquire and Expand Client Relationships

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Join us at our upcoming Lorman Education Services live webinar Using Digital and Social Media to Acquire and Expand Client Relationships on May 7 at 1 pm ET.

This educational webinar is tailored for financial advisors and professionals who would like to navigate the role of social media and digital marketing to grow your professional practice.

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The Problem with Today’s Sales Methodologies

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Good Better Best Sales

 

Face it. Most of the sales methodologies from the 80’s are tired. They do not address what growth companies need today. Growth companies need to shift from using a sales methodology to using a revenue methodology.

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Selecting Marketing Automation and CRM Solutions

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Consider Revenue Architecture When Selecting Your Tech Stack

Face it, buyers don’t care whether they are interacting with your marketing or your sales organization, they follow their buying process – often in an unstructured and unpredictable way. They self-sell on the web,  research with influencers and engage 1:1 with sales people.   An effective buyer experience across a dynamic buyer’s lifecycle requires that your revenue architecture is designed with a coordinated closed-loop process supported by integrated technology stack.

We read a lot about Martech and SalesTech stacks. This is understandable because marketing and sales teams have traditionally pursued  distinct missions with different needs. Yet if your marketing, sales and service “front office”  needs to be more integrated to support dynamic buyer pathways, then you might need to re-think your technology stack.  An integrated revenue process supported by integrated revenue technology helps deliver a single view of the customer and becomes  more responsive and relevant as your buyers jig and jag along their dynamic buying processes.

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