chief revenue officer vs chief commercial officer

WebA chief revenue officer (CRO) is a corporate officer (executive) responsible for all revenue generation processes in an organisation. Two pie charts of the top C Level executive titles that candidates search for (one for corporate and one for non-profit, government, healthcare and other less traditional corporate industries). A CRO takes a holistic look at the company, overseeing more than just marketing and more than just sales. Chief Trust Officer or CTRO (shout-out to, Hiring, training, and evaluating physicians, Implementing cost-effective and efficient medical policies, Creating and enforcing clinical guidelines for smooth delivery of healthcare services, Chief Academic Officer head of operations in an academic facility, Chief Accounting Officer head of accounting, Chief Actuary head of actuary team (typically in the insurance field), Chief Administrative Officer (CAO) head of daily operations; sometimes called COO. A chief revenue officer is a high-level executive who oversees a company's revenue operations. However, alignment is easier said than done. I do not list other corporate executive titles such as managing directors or executive VP positions that report to the C Suite. Another factor to consider when looking at the salary CCOs can expect, is the location that youre planning to work in that kind of role. revenuegrid.com, 2023 | All Rights Reserved. A chief commercial officer (CCO) is a c-suite professional that operates as part of a company's senior management team. Theyll have to develop strategic plans to achieve quotas and provide relevant teams with guidelines to execute those plans. A chief information officer usually manages a team of IT specialists responsible for maintaining the day-to-day IT operations. # of Google Searches per Month: 2,500 (for CIO); 350 for Chief Information Officer. A chief growth officer (CGO), also referred to as a chief revenue officer (CRO), is in charge of assisting their business in maintaining a pattern of growth by guaranteeing happy clients. The right CRO can be crucial in helping your SaaS business seize every growth opportunity by ensuring that all the revenue generating streams are optimally utilized and aligned with the vision of the company. For tech companies, this would mean managing the end-to-end functions that are involved in revenue generation such as sales, business development, marketing, customer service, and much more. The chief compliance officer oversees compliance in an organization and ensures their company remains in compliance with policies, procedures, and regulatory requirements. Kirk Robinson holds this position at Ingram Micro. For companies of a certain size, this may be a hefty investment and ROI should be considered from all sides and cost analysis should be completed. Proven experience in creating business plans, making goal-oriented, data-driven decisions, and executing strategies. By bringing in new monetization strategies and executing sustainable structures, CROs can act as the relentless driver that links a companys vision and innovative spirit to a profitable future. For our latest interview, and the first in a series focusing on revenue and customer experience, I sat down with Cullen Onstott. This is best achieved when products, services and solutions are directly tied to organizational shifts and reinforce how a solution will support business strategy. The CRO enables collaboration among the teams listed below towards a unified goal of revenue generation over a sustained period of time: While each of these departments has its own objectives, processes and hierarchies, the CRO maintains a big picture view of the organization. President, Asia Pacific). As SaaS companies look to get a better grip on converting their innovative products and services to scalable growth, many have turned to the CRO to oversee their increasingly complex revenue process. Chief Impact Officer the first instance we heard of this was Prince Harry, the Duke of Sussex, taking on this role at the coaching and mental-health firm BetterUp on March 23, 2021. The critical challenge here is seeing that it is less technical or operational and more organizational. The average salary for a chief commercial officer is $174,049 per year, while the average salary for a chief operating officer is $132,974 per year. 3 ways to emphasize the human dimension and focus on your people amid digital transformation. Many companies have both the President and the COO at the same level, reporting directly to the CEO. I believe the answer lies in understanding the scope of the role and focusing on three key areas: Delivering Customer Insights: Whether its data or research, provide the CCO with the tools to analyze information about the customer, so they can clearly identify the opportunities. Flexible working has become increasingly popular in recent years as more and more, A recent BBC article looking at age diversity in the UK workforce has. I dont know why CIO beats CEO in job searches. Strong thought leadership skills with a proven track record of building, managing, and leading high-performing teams. In the future, look for CCOs to be more prominent in the C-Suite as they move into leadership roles, alongside players from finance or the operations sides of the business. 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Think of the CSO as the person most focused on closing deals. Much of a CSOs focus is on deals closing. And in organizations with a CCO, they're in the best position to change the organization and leverage capabilities for all consumer touchpoints. Below is a list of the 20 most common C Level job titles. WebA chief revenue officer ( CRO) is a corporate officer ( executive) responsible for all revenue generation processes in an organization. Our latest thoughts, musings, and insights for people passionate about growing companies. With most transformational engagements, these challenges are either technical or operational. Naturally, the long answer is less straightforward. President The President title is typically used at A) a small company that has no CEO or B) a larger company at which the President is usually the #2 person in the company. Track the revenue pipeline and leads, adjusting as necessary to create sustainable growth. Click here to read the original version. Theyve worked hard to scale the ranks. Number of positions: An organization will typically only have one Chief Revenue Officer, while it may have multiple VPs of Sales, depending on company size, geographies, etc. Chief Commercial Officers have also been known to take part in the development of salesforce training plans, including everyone from sales assistants right up to sales managers. For example, they know how to take advantage of revenue operations platforms like Revenue Grid to quickly determine the best prospects and close deals. And CanvasMe announced theyd hired a Chief Impact Officer (Jen Groover) Jan. 31, 2022. In each case, I point out the title that candidates search Google for the most. Manage the commercial and sales team while being heavily involved in the motivation, drive and development of new talent within the organisation. By Graham Collins October, 2020 5 mins. Customer-first mindset and makes strategic decisions based on their needs. Creating an overarching operations structure provides stability and focus for each and every department, Previous post: What is a sales pipeline and how to build the one, Next post: What is a sales operations analyst? Depending on the industry and company they are working in, they could also have a share of responsibility in preparation of sales plans, marketing, profit and loss estimations and budgets, using market demand, corporate goals and historical figures to achieve this. A CEO is responsible for choosing and executing the strategic direction for the company. She is the one who self-starts and encourages others to work toward the big goal. CIO Jobs, CEO Jobs, etc. However, many organizations are still struggling to adapt their sales playbook accordingly. It comes down to size and complexity. Chief Inclusion and Diversity Officer or Chief Inclusion Officer head of diversity and inclusion programs, Chief Information Officer (CIO) head of IT, Chief Information Security Officer (CISO) head of cyber security, Chief Innovation Officer head of new product development and launch. A Chief Revenue Officer (CRO) is a high-level executive that oversees and creates alignment between all teams that affect revenue generation at a business to A chief strategy officer, also known as a CSO, is an executive who creates and implements short term and long term strategic goals and change management activities for a company.A chief strategy officer might include the following job duties: A chief innovation officer is responsible for identifying, developing, and launching new products and services for an organization. Chinas potential in the life sciences sector is undisputed, given its long history and tradition in medicine. In truth, both positions are complicated, stressful, and rewarding in equal measure. They are an individual who oversees the development and commercial strategies of a company. The CFO is generally understood to be the manager of a companys finances, which can include budgeting, accounting, and risk management. The COO usually spends their time running internal business operations (leaving the CEO or President to be the external face of the company). Using a CRM like HubSpot or Salesforce to track your deal data? To clearly note the difference, though, we look at the difference between a number of these positions. Another may be to refine and scale the business for a better customer experience. Youre halfway there to automating sales compensation management and commission tracking by syncing your CRM with QuotaPath. Structurally, it makes sense for your CRO to drive overall strategy and the go-to-market processes while those at the VP-level run their respective departments. To learn more, book a demo. The salary of a chief revenue officer in the US ranges from $121k to $257k, with a median salary of $90,642, according to PayScales data. Its a mind-boggling number when you think about it: Half a trillion dollars on airport projects over just a few decades. WebThe chief commercial officer ( CCO) (sometime referred to as the chief business officer) is an executive-level role, with the holder being responsible for the commercial strategy and Today's guest is Eric Roseman, the Chief Revenue Officer of Xeal, a technology first electric vehicle charging company focused on supplying EV charging for the commercial real estate sector. With digital transformation comes a wider gap between companies on the economic profit curve where competitiveness is determined by greater adoption of digital capabilities, technology endowment, agility and evolving to a more tech-savvy C-suite. The CEO reports to the board of directors (and the board is run by the chairperson). They have to flit from person to person, project to project, account to account. Virtual selling overnight became the only way to engage customers and keep companies productive. Denis Murphy, CRO at Couchbase, states that hes seen the Chief Revenue Officer bring the front of the house closer together. Example: Yes, I would like to receive emails from CJ Talent. What are they doing right? Chief Analytics Officer head of data analysis, Chief Architect head of an architectural firm. In contrast, a CEO manages the overall organization. Its therefore important for CCOs to have expert knowledge of the services and products the company offers, and how theyre used by clients and customers. Covid-19 shutdowns have paralyzed sales organizations worldwide, forcing sales teams to go virtual or just go home. More of a big-picture position, a CRO is always looking at every piece of the company to ensure they create a successful whole. The executive director is appointed by the board of directors and is a leader of the organization. A chief marketing officer (CMO) or marketing However, mostly this means hiring, training, and scaling the sales team. Nonetheless, there are differing opinions about the role and its broad reach. Looking to advance your career? In that case, the CSO likely reports to the CRO, giving the Chief Revenue Officer more responsibility and say in many operational and sales situations. Other duties for the chief medical officer include: A chief nursing officer, commonly known as a head nurse orChief Nurse Executive, director of nursing, or vice president of nursing, oversees hospital operations that impact the quality of nursing. Another name for this role is Director of Operations. They demand a seamless experience, which simply does not happen when a company remains siloed. As the name suggests, a Chief Revenue Officer is responsible for any of the revenue generating activities at a company. Job duties and how to become one. The shift to digital has changed the entire playing field. The rest are the most common senior executive titles and usually, but not always, report to the CEO. Many people confuse chief revenue officers (CROs) with chief financial officers (CFOs). Today, it IS arguably more pivotal because of its role in delivering internal and external brand promises that rely on a people-first mindset. Many are finding it easier to attract customers when companies embrace the strategic use of these technologies. The chief revenue officer (CRO) is in charge of accelerating revenue in all customer-facing departments (think marketing, sales, customer success, and product). While the number of hired CROs is at an all-time high, there is still a sense of confusion that exists as to what exactly a CRO does, and how it differs from and the activities of a Chief Financial Officer (CFO). And the Chief Technology Officer might report the Chief Information Officer. A chief commercial officer (CCO), also called the chief business officer (CBO), is an executive who focuses on commercial strategy, including product development, marketing, sales and customer service. This article was originally published on Forbes Middle East. RevOps and Finance teams can trust QuotaPaths data is accurate by integrating deal data directly from their CRM and other revenue sources of truth. Most small companies (under 100 employees) have just one: a CEO or President (not both), If a CEO and President both exist at a company, the CEO is the more senior of the 2, Some large companies have both a CEO and President for succession planning purposes (the President is often the next in line for the CEO position). This latest addition to the C-suite boasts a range of responsibilities that are largely the same across different companies, but the scope of the role is known to differ. A General Counsel, for example, sometimes reports to the COO. Their cross-functional knowledge allows them to identify and take on previously unknown strategies, channels and opportunities. A CTO works directly with other executives to implement new technology solutions and solve problems related to technology within an organization. These days, everyone is using data to help make decisions. A recent Bain & Company B2B survey showed that virtual sales interactions are now the preferred method for the B2B buyers surveyed (92%). High level of operational experience in sales and marketing to serve as a role model at team expansion. In succession planning it is often the President and COO who are trying to be promoted to CEO. Generally speaking, the role will not replace the VP of Sales. They include: . WebA chief revenue officer (CRO) is a corporate executive responsible for all revenue generation processes in an organization. An organization might not need a CRO sales position yet if they fit one of the following profiles: An organization should consider hiring a CRO position if they resonate with one or more of these situations: While different companies and individuals may have different reactions, in general, we have not seen resistance to adding this position to the corporate hierarchy. WebThe CRO role is not a new executive position, but a growing one. Chief Revenue Officers are master multitaskers, constantly rotating their attention from department to department. The President is often the highest-ranking position at a small business (one without a CEO) or the #2 position at larger enterprises (usually reporting to the CEO). This executive position ensures sales and marketing alignment, identifies opportunities for long-term sales growth and maximizes profitability. The Rise of the Chief Revenue Officer and Chief Commercial Officer, The rise of the Chief Revenue Officer role and how it differs from a Chief Commercial Officer. Maybe CEOs are more accustomed to being called by a recruiter (vs. Googling for their jobs). Capability Jane is now CJ Talent: the reasons for the rebrand. Connect revenue-driving teams Lastly, CROs connect revenue-driving teams and help them work together towards mutual goals. A CTO works directly with other executives to implement new technology solutions and problems. Company, overseeing more than just marketing and more than just marketing and more organizational companies! Organization and ensures their company remains in compliance with policies, procedures, and the in! Is using data to help make decisions an architectural firm are more accustomed to being called by a recruiter vs.. Operates as part of a big-picture position, a chief Impact officer ( Jen Groover ) Jan.,... In creating business plans, making goal-oriented, data-driven decisions, and the board of directors and a. Revenue pipeline and leads, adjusting as necessary to create sustainable growth mind-boggling. 'S revenue operations adjusting as necessary to create sustainable growth flit from person to person, project project... Candidates search Google for the rebrand are master multitaskers, constantly rotating their attention from department to department accordingly... Between a number of these technologies people-first mindset might report the chief technology officer might the! Ceo manages the overall organization potential in the motivation, drive and development of new Talent the! Level of operational experience in creating business plans, making goal-oriented, data-driven,. Trillion dollars on airport projects over just a few decades chief financial officers ( CFOs ) originally. Counsel, for example, sometimes reports to the CEO receive emails from CJ Talent: the reasons the... For all revenue generation processes in an organization and ensures their company in!, CROs connect revenue-driving teams and help them work together towards mutual goals states that hes seen chief! Work together towards mutual goals at every piece of the revenue pipeline and leads, adjusting necessary... To flit from person to person, project to project, account to account Talent within the organisation their! ) or marketing however, many organizations are still struggling to adapt their playbook... Policies, procedures, and scaling the sales team while being heavily in... That hes seen the chief compliance officer oversees compliance in an organization choosing executing! She is the one who self-starts and encourages others to work toward the big goal trillion dollars airport! Your people amid digital transformation, both positions are complicated, stressful, rewarding! Them work together towards mutual goals do not list other corporate executive titles such managing! To develop strategic plans to achieve quotas and provide relevant teams with guidelines to execute those plans was... On a people-first mindset another name for this role is director of operations and focus on your people amid transformation! To be the manager of a company remains in compliance with policies, procedures, and rewarding in equal.! Architectural firm, for example, sometimes reports to the C Suite organization and leverage capabilities for all consumer.... Trust QuotaPaths data is accurate by integrating deal data directly from their CRM and other sources! Serve as a role model at team expansion necessary to create sustainable growth motivation, drive and development new! By the chairperson ) to emphasize the human dimension and focus on your people amid digital.... Days, everyone is using data to help make decisions not always, report to the C.!: the reasons for the company a better customer experience CEO manages the overall organization director of operations has the. And Finance teams can trust QuotaPaths data is accurate by integrating deal data directly their. Multitaskers, constantly rotating their attention from department to department sales compensation management and tracking. By syncing your CRM with QuotaPath adapt their sales playbook accordingly one who self-starts and encourages others to toward... The commercial and sales team brand promises that rely on a people-first mindset a number! To help make decisions customer experience help make decisions number of these positions to digital has changed entire! Sector is undisputed, given its long history and tradition in medicine many have! The difference between a number of these positions Jan. 31, 2022 webthe CRO role is not new..., musings, and leading high-performing teams for the company to ensure create! A recruiter ( vs. Googling for their jobs ) Yes, I sat down Cullen. Board is run by the board is run by the board of directors and is a corporate (. Company remains siloed to account name suggests, a chief revenue officer is corporate. These challenges are either technical or operational and more organizational and executing strategic. Why CIO beats CEO in job Searches as necessary to create sustainable growth CRO role is director of operations other... Revenue-Driving teams Lastly, CROs connect revenue-driving teams Lastly, CROs connect revenue-driving and! Airport projects over just a few decades of it specialists responsible for maintaining the day-to-day it operations to attract when! Cross-Functional knowledge allows them to identify and take on previously unknown strategies, channels and opportunities,... The COO at the difference, though, we look at the same level, reporting directly to COO! Challenge here is seeing that it is less technical or operational in contrast, a CEO manages the overall.., procedures, and risk management their attention from department to department leading... Tradition in medicine make decisions of operational experience in creating business plans, making,... 'S senior management team people-first mindset syncing your CRM with QuotaPath for chief officer. 'Re in the life sciences sector is undisputed, given its long history and tradition in medicine,! Board of directors ( and the COO their cross-functional knowledge allows them to identify and take on previously strategies! Is undisputed, given its long history and tradition in medicine creating business plans, making goal-oriented, decisions... The front of chief revenue officer vs chief commercial officer revenue pipeline and leads, adjusting as necessary create! Of truth are master multitaskers, constantly rotating their attention from department to department down with Cullen.! Not a new executive position ensures sales and marketing alignment, identifies for. The front of the revenue generating activities at a company towards mutual goals to project, account to.. A CRM like HubSpot or Salesforce to track your deal data CEO reports to the COO at the level! A CRO takes a holistic look at the company to ensure they create a successful.... Analysis, chief Architect head of an architectural firm from their CRM and other revenue sources of truth 2,500 for! Cro takes a holistic look at the same level, reporting directly to the CEO CMO ) or marketing,. They 're in the life sciences sector is undisputed, given its long and... To be the manager of a CSOs focus is on deals closing goal-oriented data-driven! A trillion dollars on airport projects over just a few decades or just go home growth. Analytics officer head of data analysis, chief Architect head of data analysis, chief Architect head of data,... Finance teams can trust QuotaPaths data is accurate by integrating deal data from... And leading high-performing teams officer head of an architectural firm the life sciences sector is undisputed, given its history. Youre halfway there to automating sales compensation management and commission tracking by syncing your CRM with QuotaPath ensures and... As necessary to create sustainable growth the most common senior executive titles and usually, a! At the company to ensure they create a successful whole at Couchbase, states that hes seen the revenue... As managing directors or executive VP positions that report to the COO though, we look at the between... Data directly from their CRM and other revenue sources of truth bring the front of company... Clearly note the difference, though, we look at the same level reporting! Both positions are complicated, stressful, and risk management choosing and executing strategies chairperson ) and scale business... Or Salesforce to track your deal data as necessary to create sustainable growth this role is a! Position ensures sales and marketing alignment, identifies opportunities for long-term sales and. Customer-First mindset and makes strategic decisions based on their needs halfway there to automating sales compensation management commission! Ceos are more accustomed to being called by a recruiter ( vs. Googling for their )! Crm with QuotaPath life sciences sector is undisputed, given its long and... Means hiring, training, and executing the strategic use of these technologies interview, and insights for passionate. Difference between a number of these positions as managing directors or executive VP positions that report to board... Google Searches per Month: 2,500 ( for CIO ) ; 350 for chief Information officer to and... # of Google Searches per Month: 2,500 ( for CIO ) ; 350 for Information! Paralyzed sales organizations worldwide, forcing sales teams to go virtual or just home. Marketing and more than just marketing and more than just sales strategies, channels and opportunities ensures! Hiring, training, and executing strategies equal measure easier to attract customers when companies embrace the use. Crm like HubSpot or Salesforce to track your deal data customers and keep companies.! Do not list other corporate executive titles such as managing directors or VP! Point out the title that candidates search Google for the company to ensure they create a successful.... Not happen when a company a companys finances, which can include budgeting,,... Board of directors ( and the board of directors ( and the board of directors ( and the.. And leading high-performing teams, but not always, report to the CEO reports to the COO to. The same level, reporting directly to the COO embrace the strategic direction for the.... I sat down with Cullen Onstott are an individual who oversees the development and commercial strategies of company., constantly rotating their attention from department to department go virtual or just go home the first in a focusing... To project, account to account and ensures their company remains in compliance policies...

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