The chief revenue officer (CRO) is an executive position in a company that oversees sales. The role is essentially the same as the CEO in that it orchestrates sound strategies and aligns all pieces in order to drive revenue. Both positions have overlapping responsibilities. A CRO must have solid interpersonal skills and a deep understanding of important technologies. The role also requires flexibility and creativity. Listed below are some of the differences between the two positions.
The Chief Revenue Officer is responsible for all revenue-generating processes within a company. He will lead the organization toward revenue-generating strategies by analyzing existing and potential revenue streams. The CRO will also use finance to guide scaling initiatives. The Chief Revenue Officer is a valuable strategic advisor to the CEO. Ultimately, he or she is responsible for all revenue and profits. However, this job is much more than a glorified VP of sales.
The chief revenue officer has a broader range of responsibilities and a more diverse portfolio than a CEO. The CRO must be familiar with revenue operations, a newer and emerging business function. A CRO with a RevOps mindset will prioritize key KPIs across functions and cross-functional teams. In turn, this CRO will help improve the company’s overall alignment, customer experience, and business relationships.
The COO’s duties are less visible. The CEO is the public face of a company, handling all outward communications and the company’s social media profiles. The skills required for the job range from leadership and analytical to communication. In addition, the COO is primarily responsible for executing the company’s business plan. The COO focuses on the bigger picture of the company. While the CEO is responsible for the company’s public image, the COO is the person who implements that strategy.
The CRO oversees all revenue-generating processes, including marketing and sales. They ensure that no department works in isolation, and they focus on customer needs and goals to maximize profitability. The CRO works closely with relevant departments to develop strategic processes. These roles are distinct and each has distinct duties. The CRO also maintains a holistic view of the company and identifies previously unknown channels, strategies, and opportunities. A CRO oversees a team of specialists.