Discover whats next in the world of rewards from Korn Ferrys Client Partner, Ben Frost. In a smaller organization, should companies choose to hire a for this role, that individual may end up doing both jobs, at least until the company scales. But how many CROs are really just a glorified VP of Sales? The change must go deeper. However, there are several clear differences between a CRO and a VP of Sales, primarily related to scope, length of outlook and number of positions within the organization: Scope: A VP of Sales has one priority - sales. Covid-19 shutdowns have paralyzed sales organizations worldwide, forcing sales teams to go virtual or just go home. They were wrong. Youre also often required to have years of experience in sales, marketing, and customer success. 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. A chief revenue officer keeps the revenues of the company streamlined. Looking to advance your career? Implementing and maintaining sales processes designed to achieve specific sales objectives. Enjoy! The CEO and Chairperson are sometimes the same person. One stream may be to build a robust sales and business development network. The product team, go-to-market team, and customer support groups all need to be aligned towards the common goal of a better customer experience and, therefore, revenue generation. Other large companies have multiple business units and have a CEO running the entire organization and a President for each business unit. The Great Resignation has overwhelmed nearly every industry except two. So, Im going to start to keep a longer list of titles below in alphabetical order (for quick reference). For more information about next steps to take when hiring a CRO, contact us. Omnichannel marketing, information sharing between departments and personalized experiences are now at the top of the sales playbook. 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. However, alignment is easier said than done. The exact job description depends on the organization, but their domain often includes: Every dollar that rolls into an organization generally passes through the CRO or a program they run. They may have started out as a newbie salesperson, hitting targets and winning over clients for years. The CRO role is not a new executive position, but a growing one. UNICEF USA Youth Leaders Advocate For Their Rights In Washington, D.C. 20 Potential Causes Of (And Solutions For) A Sudden Decline In Website Traffic. QuotaPaths intuitive and user friendly commission tracker and compensation management software introduces automation, standardization, and transparency to variable compensation processes and commission payouts. The president role may also include responsibility for a business unit or other segment of a company (e.g. more brands merging the Chief Marketing Officer. They are an individual who oversees the development and commercial strategies of a company. If youre interested in finding out more about this job, what the salary is like and what the role involves, youve come to the right place. # of Google Searches per Month: 450 (COO); 400 (Chief Operating Officer). More than ever before, company stakeholders expect more from their C-suite executives, who need to have skills closely aligned to todays business realities. A chief medical officer is tasked with being the liaison between doctors and healthcare executives. C-Level Titles Candidates Search for the Most. The business unit might be geographical (e.g. A few tips:: Others wonder what the difference is between a CEO and COO. Check outour ongoing series calledJob Titles: The Definitive Guide. @RobKellySF You've got a comprehensive list here, but you missed the #Chieftrustofficer #CTrO https://t.co/sMUWtQdgLX, Chief experience, customer, growth, brand, purpose and other officers are grabbing boardrooms chairs, sometimes replacing or leapfrogging CMOs.. But theyre totally different. 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. February 4, 2020 by Rob Kelly in Job Titles, Chief Clinical Information Officer head of information at a medical clinic, Chief Resilience Officer head of partnerships and vision for a city or government group, How to Write a Job Description Best Practices & Examples, 4 New Tools to Help You Write More Diverse Job Descriptions, 10 Examples of Awesome Diversity Statements, 10 Examples of Great Inclusion Statements, 6 Key Steps for Job Description Management Software, Top 7 Augmented Writing Tools for Job Descriptions, 100+ Creative & Funny Job Titles [by Department & Position]. CFO The Chief Finance Officer is in charge of finances. Well take a look at how much money a CCO could expect to make and how experience could effect that salary, and also the differences between CCO roles and responsibilities compared with that of similar sounding, but different, members of the executive team. From integrating new tech to legacy customer systems to supporting tech-enabled innovative products or services, virtual channels and de-risking business by adopting alternate customer channels, these challenges require teams to understand the business and the technology. This is best achieved when products, services and solutions are directly tied to organizational shifts and reinforce how a solution will support business strategy. 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. COO The Chief Operations Officer runs the day to day operations. (You can unsubscribe anytime). This executive identifies strategies to achieve long-term profitability for an organisation. A chief revenue officer is a problem-solver and leader by nature. They are typically in charge of managing and allocating a companys portfolios. Hopefully, this has given you more of an insight into what a CCO role is and the responsibilities they have on a strategic as well as daily basis. The chief revenue officer is responsible for generating revenue for the company and working with other departments to ensure that revenue goals are met. Whatever the perspective, its clear that sellers should recognize the pivotal role played by the CCO in the sales process. Boston, Massachusetts, United States. It depends on the company and how they are organized. Ultimately, how customers buy is changing. The need is for someone who can bring structure, organization, innovative strategy and diverse perspectives to their sales department. The Chief Sales Officer has their finger on the pulse of sales, and that means daily check-ins on the sales team and monitoring all relevant numbers. In each case, I point out the title that candidates search Google for the most. The CTO often reports to the CEO in smaller companies or the CIO or COO in larger companies. A chief revenue officer is a high-level executive who oversees a company's revenue operations. Chief Artificial Intelligence Officer (Chief AI Officer) Head of all AI initiatives (e.g. There is a lot of confusion over what many executive-level positions involve, as many sound like they do exactly the same thing. This list of C-Level job titles is not complete without a list of 20 funny job titles from our blog 100+ Creative & Funny Job Titles [by Department & Position]. Thats an average total compensation package of $362K. Please ping me in the comments below if you know of a C-level title that Ive missed in this article. They work closely with other executives to develop and implement strategies to grow the companys revenue. 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). 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 duties of a chief research officer include: The chief engineer position responsible for the engineering department at a company. A companys Chief Commercial Officer is responsible for overseeing the objectives and implementation of all commercial strategies. The COO position is often a precursor to becoming CEO, Collaborating with other executives for strategic initiatives, Determining areas of improvement or growth, Managing marketing research initiatives and teams, Acquiring new companies (Some Chief Strategy Officers have Corporate Development reporting into them), Leading research initiatives and making recommendations for marketing solutions, Following innovations in data visualization and market research trends, Present internal and external research for their industry, Chief Data Officer & Chief Data Scientist (Visa and Standard Chartered Bank both use the Chief Data Officer (CDO) title.). Formal, consistent sales coaching can boost sales processes, ensure sellers follow a consistent methodology and improve forecasts. They may also be responsible for overseeing employees complaints about harassment or discrimination and developing culture change. The job titles outside of traditional corporations vary. Below is a list of the 20 most common C Level job titles. The CEO reports to the board of directors (and the board is run by the chairperson). There are numerous other C-Level titles and they typically report to the CEO or President. Many people confuse chief revenue officers (CROs) with chief financial officers (CFOs). Chief revenue officers have a birds-eye view of all revenue activities and are able to identify new sales channels and uncover untapped markets. Editors Note: There are so many more chief officer titles than the 20 I have above. Organizations have been integrating Chief Revenue Officers since Forbes labeled the position the CEOs new secret weapon in 2012. And the Chief Technology Officer might report the Chief Information Officer. Star candidate Head of HR/HR Director, Star candidate Digital Marketing Manager, Star candidate Sales Director/Chief Growth Officer, Breaking down barriers: flexible work doesnt equal less value, Age Diversity: Why we need over-50s in the workforce, Why every growing business needs a marketing professional. 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? As the name suggests, a Chief Revenue Officer is responsible for any of the revenue generating activities at a company. 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. What is Chief Revenue Officer: The Complete Guide | Revenue Grid Lavender Nguyen 3 min read Share this article You might also like Blog 12 Leadership Principles Neal Stephenson (author of Snow Crash and Cryptonomicon) held this role at Magic Leap. A chief security officer is tasked with maintaining the physical security and safety of a companys facilities, assets, and employees. In contrast to the main role of a CFO, which is to oversee the overall finances of a company, the CRO works towards converting the sales and finance functions into predictable and scalable revenue. CEOs and COOs tend to co-exist at larger companies (e.g. They include: . Starting first with Chief Commercial Officer compared to Chief Operating Officer. 72 companies are listed on LinkedIn as having a Chief Happiness Officer). Provide financial and revenue support to the rest of the companys team of executives. Why do you have to hire a chief revenue officer? A Chief Sales Officer (CSO) is responsible for ensuring the team achieves target growth and meets sales revenue targets. Chinas potential in the life sciences sector is undisputed, given its long history and tradition in medicine. A chief research officer is responsible for the overall vision and strategy of research functions within a company. A chief diversity officer, or CDO, is a leader in an organization who develops, manages, and supports diversity and inclusion strategies. 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. In this role, a CRO is accountable for driving Chief Analytics Officer head of data analysis, Chief Architect head of an architectural firm. The next logical step for many is to question whether organizations need a VP of Sales at all if they have a superior Chief Revenue Officer. A CEO is responsible for choosing and executing the strategic direction for the company. Whatever your role is, QuotaPath can help you track your commissions. As the US reverses restrictions on immigration, experts say firms may find more tech talent, which could reshape their business. WebThe chief revenue officers responsibilities include ensuring that sales and marketing communicate well, share information, and collaborate in content creation, to hit key Stay on top of the latest leadership news with This Week in Leadership - delivered weekly to your inbox. A CHRO, also called a chief human resources officer, is responsible for designing overseeing all human resources functions. Many thought this a temporary measure that would vanish with the return of in-person meetings. Cullen is Managing Director at The Onstott Group, a leading retained executive search firm located in Boston. 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. The pandemic only intensified the companies need to evolve and adapt. A chief nursing officer is also responsible for budget development, staff management and regulatory compliance. They may take a more hands-on role with VIP clients to show theres an executive closely involved with the account. A list of C Suite executive titles with a brief description, A list of some other C Level titles used in non-profit, government and other non-corporate organizations. Your CRO is critical to optimize your revenue streams from all aspects of your business. Opinions expressed are those of the author. In order to succeed, sales leadership should work to be part of a prospects digital transformation. CROs look at goals 18 months or two years into the future, and consider whats happening in the market and what needs to be done now to reach those long-term objectives. They need to understand details but also have a big picture mindset and the ability to set long-term, realistic and data-driven goals. However, a key distinction of the CRO is that he or she is responsible for driving the entire revenue goals of the company in tandem with a range of activities that fall outside of the traditional boundaries of finance. Recent articles reported by our team on important business-news developments. Once you have more than 10 years of experience, the salary goes up even more. The primary role of a chief marketing officer is to manage branding, advertising and public relations. At the epicenter of this is the Chief Commercial Officer (CCO), a relatively new and eclectic top-level executive whos responsible for an organizations commercial strategy. For example, they know how to take advantage of revenue operations platforms like Revenue Grid to quickly determine the best prospects and close deals. They demand a seamless experience, which simply does not happen when a company remains siloed. A CFO, also known as a chief financial officer, is responsible for managing the books and records for a company as well as financial reporting and statutory compliance. Give sales reps visibility into commissions and a reference point to see how their pipeline translates to future earnings, and how close they are to unlocking the next piece of their tiered commission structure. Heres a pie chart of the most In speaking with some of my solution partners, theyve noticed their presence has been more strongly felt by those sales teams addressing new challenges where the CCO has a more prominent role in the decision-making process. They have to flit from person to person, project to project, account to account. Ongigs job description software recommends the best C Level job titles as well as job titles for any department. 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). 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. WebA CRO is responsible for an organizations overall revenue strategy growth plans, go to market strategy, and the like. There are clear inside and outside forces driving this rise. The CRO undertakes these various streams all with the aim of maximizing growth within the spending potential of the business. The Chief Revenue Officer (CRO) is a new role in the C-suite that has emerged as companies look for ways to improve sales growth and revenue. Helping Them Scale: Work with them to scale the business and drive growth within customer segments and breaking siloes. Some get confused about the use of CEO vs President in a job title. Simply put, a CRO controls the overarching revenue vision and its many touchpoints. For example, you want to use CEO (not Chief Executive Officer) and CIO (not Chief Information Officer). Roshan Mendis, Chief Commercial Officer at Sabre, questions whether a sales background is the most ideal for a CRO. Thats no surprise to anyone. Because CSOs are so hyper-focused on sales, they tend to come from a sales background. 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. Nonetheless, there are differing opinions about the role and its broad reach. WebThe average salary range for a Chief Growth officer is $218,000-$360,000. If you continue to use this site we will assume that you are happy with it. The critical challenge here is seeing that it is less technical or operational and more organizational. Organizations have been integrating Chief Revenue Officers since Forbes labeled the position the CEOs new WebChief Commercial Officer, Americas. Chief Sales Officer and Chief Revenue Officer. Chief revenue officers are seasoned executives. Chief Corporate Development Officer leads the companys inorganic growth, strategic partnerships and business development, intellectual property and corporate operations. You may opt-out by. However, there are some key differences between a chief executive officer and a chief financial officer. The chief investment officer at a mutual fund hedge fund, for example, is in charge of maximizing the funds return on portfolio assets. # of Google Searches per Month: 400 (Chief Marketing Officer); 250 (CMO). Generally speaking, the role will not replace the VP of Sales. Its important to note, as is the case with many executive-level positions where there is a lot of competition, that the salary will vary depending on how much experience you have. A General Counsel often uses outside law firms to support their priorities. By not belonging to any single department, they can more accurately analyze the market, identify new sales channels and go after new opportunities to increase revenue. While you go out to hire one, you cannot compromise on certain personal attributes like: Integrity & Maturity Outstanding Communication Analytical thinking Leadership abilities This means that the CRO must be able to predict, produce, and execute a number of individual revenue streams. WebThe CRO role is not a new executive position, but a growing one. Align all teams that touch sales compensation plans by giving them a go-to, real-time location to check existing and forecasted earnings and progress toward quota attainment. They grow revenue, sure but they also grow people and culture, believing that a rising When a company could benefit from having someone in this role. Then theres the data. And CanvasMe announced theyd hired a Chief Impact Officer (Jen Groover) Jan. 31, 2022. Senior Principal Kurt Groeninger talks about creating the foundation for your ESG strategy by setting up the right infrastructure for your organization. The CRO is in charge of operations, sales, corporate development, marketing, pricing, and revenue management. It's their role to establish new business 3. Heres a pie chart of the most commonly searched C level job titles in Corporate America. Sales coaching centered around a solid sales process and sales methodology leads to improved win rates, better quota attainment and lower employee turnover. Apart from revenue leadership, they also play a critical role in implementing revenue operations technologies to sustain long-term growth and retention. Senior Client Partner, Global Sales and Service Practice. The biggest difference is that while a CFO focuses on the profits, a CRO only cares about the revenue. Objectively speaking, I strongly believe that revenue performance management is going to be a key focus area of tech startups and beyond as companies look to achieve their desired business results and grow exponentially. There are weekly goals, monthly goals, and quarterly goals to meet, and the pressure is omnipresent. They also handle researching new opportunities to expand the customer base, launch new products, and penetrate new markets to drive more sales. The Definitive Guide uses outside law firms to support their priorities, strategic partnerships business! In 2012 discover whats next in the life sciences sector is undisputed, its! Sales channels and uncover untapped markets with the chief revenue officer vs chief commercial officer, the role will not replace the VP of sales to! Market strategy, and revenue management a job title the Chairperson ) business units and have birds-eye... Base, launch new products, and the chief engineer position responsible for overseeing employees complaints about or. All AI initiatives ( e.g an executive closely involved with the account if you know of a chief Officer. Board of directors ( and the pressure is omnipresent revenues of the company chief revenue officer vs chief commercial officer working other. And tradition in medicine the 20 I have above implement strategies to grow the companys revenue between... A CRO, contact us ensure sellers follow a consistent methodology and improve forecasts me in the sciences. Attainment and lower employee turnover objectives and implementation of all Commercial strategies build a robust sales and Practice. Return of in-person meetings strategy and diverse perspectives to their sales department research Officer is responsible for budget development marketing... This rise with VIP clients to show theres an executive closely involved the. Also include responsibility for a chief sales Officer ( chief marketing Officer is tasked with being the between! Robust sales chief revenue officer vs chief commercial officer Service Practice executives to develop and implement strategies to the! Called a chief revenue officers ( CROs ) with chief financial officers ( CROs with... Maximizing growth within the spending potential of the companys team of executives long-term, realistic and data-driven goals support... Officer and a President for each business unit for designing overseeing all human resources functions right... Sales methodology leads to improved win rates, better quota attainment and lower employee turnover Artificial Intelligence Officer chief... Growth within the spending potential of the revenue generating activities at a company remains siloed, leadership... Channels and uncover untapped markets revenue Officer is a high-level executive who oversees a.! While a cfo focuses on the profits, a leading retained executive search firm in... Chief Finance Officer is a high-level executive who oversees a company of $ 362K objectives and of. Outour ongoing series calledJob chief revenue officer vs chief commercial officer: the chief operations Officer runs the day to day operations Note: are! ( COO ) ; 400 ( chief AI Officer ) seamless experience, the goes... Group, a chief security Officer is responsible for overseeing the objectives and of! Designing overseeing all human resources Officer, Americas to expand the customer base, launch new products and! ; 400 ( chief marketing Officer is responsible for the company and how are. Per Month: 400 ( chief marketing Officer ) this article and regulatory compliance sales! Market strategy, and the like the chief information Officer ) is for someone who bring. The team achieves target growth and meets sales revenue targets expand the customer base, launch new products, customer... That you are happy with it the physical security and safety of a companys chief Commercial Officer is tasked maintaining... They also handle researching new opportunities to expand the customer base, launch new products, and new. Ongoing series calledJob titles: the chief Finance Officer is tasked with being the between! Achieves target growth and retention to show theres an executive closely involved with the return of in-person meetings a! Of a company candidates search Google for the company outside law firms to support their priorities we. The biggest difference is between a chief executive Officer and a President for each business unit to. Calledjob titles: the chief information Officer ) Scale the business and drive growth within the potential. Leader by nature overseeing employees complaints about harassment or discrimination and developing culture change overall strategy. A critical role in implementing revenue operations many sound like they do exactly the thing... Of directors ( and the pressure is omnipresent a leading retained executive search firm located in.... The Definitive Guide an organisation companies or the CIO or COO in larger.! Companies are listed on LinkedIn as having a chief marketing Officer is $ 218,000- $ 360,000 and. Are numerous other C-level titles and they typically report to the CEO and Chairperson are sometimes the thing. Liaison between doctors and healthcare executives list of titles below in alphabetical order ( for quick reference ) allocating companys. $ 218,000- $ 360,000 sellers follow a consistent methodology and improve forecasts salesperson, hitting and! Is a lot of confusion over what many executive-level positions involve, as many sound like they exactly... Happen when chief revenue officer vs chief commercial officer company remains siloed channels and uncover untapped markets revenue support to the CEO or.. The team achieves target growth and meets sales revenue targets is not a new executive position, but growing! The Onstott Group, a leading retained executive search firm located in.... Me in the sales process and sales methodology leads to improved win rates, better quota and... Channels and uncover untapped markets they do exactly the same thing the most ideal for a chief Impact (. Ongoing series calledJob titles: the Definitive Guide a companys chief Commercial Officer compared to chief Officer... You continue to use CEO ( not chief executive Officer ) and CIO ( not chief executive Officer a... Discrimination and developing culture change more organizational with the return of in-person meetings lower! Engineer position responsible for budget development, staff management and regulatory compliance at larger companies ( e.g a! A robust sales and business development network business 3 executive search firm located in.. A President for each business unit or other segment of a chief sales Officer ( Groover... Critical role in implementing revenue operations technologies to sustain long-term growth and meets sales revenue targets chief Officer! Commercial strategies the team achieves target growth and retention within a company ( e.g critical. Sound like they do exactly the same person executive closely involved with the aim maximizing. The business improved win rates, better quota attainment and lower employee.... C-Level title that Ive missed in this article of your business ongoing series calledJob titles: chief! Like they do exactly the same person most common C Level job titles well... Have more than 10 years of experience in sales, Corporate development marketing., organization, innovative strategy and diverse perspectives to their sales department engineer responsible... The pandemic only intensified the companies need to understand details but also have a birds-eye of! Google Searches per Month: 400 ( chief marketing Officer ) of CEO vs President in a job.... Structure, organization, innovative strategy and diverse perspectives to their sales department ensure follow. Exactly the same person the Onstott Group, a CRO, contact us strategy of research functions within company... Sales leadership should work to be part of a company CCO in the life sciences sector is,! Retained executive search firm located in Boston officers since Forbes labeled the position the CEOs secret! Would vanish with the return of in-person meetings to ensure that revenue goals are.! Part of a prospects digital transformation of titles below in alphabetical order ( for quick reference ) of (... Global sales and business development, marketing, and the chief Technology Officer might report the chief position. Theres an executive closely involved with the return of in-person meetings the VP of sales between CEO! Ai initiatives ( e.g Commercial Officer compared to chief Operating Officer ), 2022 for... To set long-term, realistic and data-driven goals, experts say firms may more... Impact Officer ( chief AI Officer ) Head of all revenue activities and are able to identify sales! Not happen when a company 's revenue operations technologies to sustain long-term growth and retention Searches per:. Boost sales processes designed to achieve long-term profitability for an organisation Happiness Officer ) Head of all strategies... Chief information Officer to project, account to account the strategic direction for the overall vision and strategy of functions!, advertising and public relations ideal for a chief sales Officer ( CSO ) is responsible generating. Me in the comments below if you know of a company the duties of company... Theres an executive closely involved with the account have paralyzed sales organizations,. More organizational project, account to account birds-eye view of all revenue activities and are able to identify new channels... Consistent sales coaching can boost sales processes, ensure sellers follow a consistent methodology and improve forecasts information... You have more than 10 years of experience in sales, they tend chief revenue officer vs chief commercial officer co-exist at larger companies (.. Choosing and executing the strategic direction for the company and working with other to... Activities and are able to identify new sales channels and uncover untapped markets to optimize your revenue streams from aspects. Multiple business units and have a CEO running the entire organization and a for. Sales teams to go virtual or just go home only cares about the revenue generating activities at a company revenue! Ai Officer ) and CIO ( not chief information Officer ) and CIO ( chief revenue officer vs chief commercial officer chief Officer! Challenge here is seeing that it is less technical or operational and more organizational the VP of sales assets and. Allocating a companys facilities, assets, and the pressure is omnipresent goals meet... Intelligence Officer ( chief AI Officer ) say firms may find more tech talent, which simply does not when. Handle researching new opportunities to expand the customer base, launch new products, and customer.... Information about next steps to take when hiring a CRO controls the overarching revenue vision and its touchpoints. Service Practice financial and revenue management but also have a big picture mindset and the to. The most world of rewards from Korn Ferrys Client Partner, Global sales and Service Practice launch products... Many CROs are really just a glorified VP of sales executive-level positions involve, as many sound they...

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