CRO Challenge Number 10: I feel exposed
Regular readers will have been keeping up to speed in July with my Top 10 most common issues that CROs have reported to me during this year. I’ve offered, each week, some ideas to address each of these challenges in turn. This week, we reach issue number 10, which relates to the somewhat unsettling nature of the role of a CRO in terms of its exposure and vulnerability. The title of “CRO” is still a relatively new position – and while there’s plenty of material available on “sales” and “marketing”, it’s pretty difficult to find specific training or expert subject matter on this senior executive role.
Following on from the ‘CRO role’ theme, and as an extra thought provoker, I’ve created a CRO Revenue Growth Scorecard for you to play with. It a free tool (just follow the link) containing 4 sets of 10 questions, with simple tick boxes, which will create a baseline report on the current status of your revenue growth agenda.
I’d love to hear your views on any of the subjects covered in my blogs – feel free to agree, disagree or offer additional thoughts!
CRO Challenge #10 – “I feel exposed”
“The role of a CRO is lonely, has serious growth responsibilities and lacks specific supporting tools and mechanisms”
Here’s my Magnificent 7” ideas to help address this challenge…
- Remove any ambiguity about responsibilities and expectations by agreeing clear goals, budgets and areas of accountability with the CEO.
- Educate stakeholders and colleagues about the relatively new aspects of the role of the CRO and seek their support in providing ongoing feedback and ideas.
- Schedule social events with business colleagues and stakeholders to allow informal, casual interactions and team building.
- Build your peer group of CROs and leverage their experience to share thoughts, challenges and ideas.
- Subscribe to quality newsletters (like this one!), opinion and news feeds to stay abreast of industry developments and case studies.
- Make a point of over-communicating with internal colleagues across departments to promote collaboration, gain support for the vision and minimise the ‘silo mentality’.
- Find an executive mentor…like me! Leverage a trusted advisor in a safe environment to help advise, coach and bounce ideas with.
CRO Revenue Growth Scorecard
Identify and Prioritize for Maximum Revenue Growth
My CRO Revenue Growth Scorecard is specifically designed to help you identify and prioritize the areas that will make the most significant impact in accelerating revenue growth for your business. I have created a set of critical success factors within 4 cornerstones of revenue growth to scientifically benchmark the current status of your business. The four cornerstones are:
1. Optimizing the Organization
Creating a ‘fit for purpose’, growth-orientated operating model, optimising customer-facing time.
2. Retaining & Growing Customers
Keeping profitable customers for life, minimizing controllable attrition, and growing profits through upselling/cross-selling.
3. Winning New Customers
Identifying attractive suspects and accelerating the conversion of new customers.
4. Leading and controlling the team
Maintaining transparency and control over the business while embedding customer-centric leadership.
How it Works
It’s free of charge! Simply go to: https://optilium.co.uk/revenue-growth-scorecard/ and answer 40 ‘Agree’ or ‘Disagree’ questions (it should only take 10 minutes max!) that are based on the 4 cornerstones for revenue growth. You’ll get an overall Revenue Growth Score as well as a score for each of the 4 cornerstones of revenue growth. You’ll also receive a personalized report with practical steps that you can start taking immediately to start improving your score and accelerating revenue growth.
Any questions, contact me on: alan.crowther@optilium.co.uk