The Chief Revenue Officer (CRO) is responsible for generating revenue for the company and working with other departments to ensure that revenue objectives are met. On the other hand, the Chief Marketing Officer (CMO) is responsible for developing and executing marketing strategies. A CRO can help to ensure an interdepartmental strategy that addresses any weaknesses in marketing, sales, customer service, and revenue operations. The primary purpose of a CRO is to guarantee that the entire revenue, sales, and marketing engine, as well as customer success, are in sync with a single plan that produces income.
They take control of the marketing engine to make sure that all aspects of the top-of-the-funnel (TOFU) are increasing. CMOs are responsible for creating demand, which brings potential customers qualified for marketing to the funnel so that their sales team can qualify and close them. Organizations usually have a full-time revenue director who can bridge the gap between sales and marketing and manage the entire customer experience. The position of Growth Director (CGO) is an evolution of a Marketing Director (CMO), while the position of Revenue Director (CRO) is a transformation of the Sales Director.
A CRO can help to develop a comprehensive and holistic marketing revenue strategy and provide support to ensure that the company is stable and can grow in the long term. Having a holistic alignment between sales, marketing, and customer success will yield positive outcomes. Companies can offer a fractional but powerful package to their entire revenue department, allowing them to hire a CRO, a sales leader, a marketing leader, a content team, and even a graphic designer for the price of one executive. It's important to find someone who stands out as an advocate for aligning the revenue department rather than creating a CRO role with the wrong person.
