Position Highlight: Chief Revenue Officer
If you were born with the heart of a salesperson and have always felt the drive to sell more to more people, you would probably make a great Chief Revenue Officer (CRO). These executives have a central role in organizations of all types and are integral to the success of business across industries. Read on to find out what is involved and what it takes to become a CRO.
In essence, it’s the job of the CRO to drive all efforts that increase revenue generation. They do that by finding new products and services to sell, new markets and consumers to sell to, and new ways to sell and market. The specific responsibilities and details of the job will depend largely on the company the CRO works for and the type of person that occupies the role. In any case, the goals will be to do whatever it takes to maximize revenue, and whatever it takes to prevent declines in revenue.
Education and Credentials
In almost every case a CRO will need to have an MBA. It’s also often preferred that they have a degree related to the product or service being sold. For instance, a computer science degree to sell tech products. As with any executive-level position, additional education is always a benefit, and none should be considered irrelevant. Most successful CROs also have an extensive background in sales, experience managing sales teams, and specific knowledge about revenue generation strategies. Every opportunity will have different requirements for education and experience.
As we mentioned at the outset, any company invested in staying competitive will rely on a CRO. According to the Bureau of Labor Statistics, the job outlook for top executives like these is fairly bright. Demand for CROs is expected to grow by 6 percent between 2014 and 2024, with an additional 147,000 professionals entering the C-Suite. Median income is reported at $102,750 but has the potential to be much higher for CROs. Many of these professionals work for companies pursuing an IPO or buyout offer. When those goals are met, it can easily lead to seven-figure windfalls for the best CROs.
A company providing B2B analytics and workflow solutions is actively seeking a CRO to lead an aggressive revenue-generation campaign. The goal is to realize an exit strategy within two years. The chosen candidate must have 15 years of sales experience, experience managing a national sales team, and an MBA. Compensation is reported in the $190K-210K range, with equity shares valued at $1MM+ if the exit strategy is realized.
If you have what it takes to be an effective CRO there are a lot of top companies that are eager to talk to you. Start making connections by working with Artemis Consultants.