From McKinsey & Company
Scaling a company—large or small—is no easy feat. For start-ups, 80 percent never reach critical scale.1 At bigger companies, the challenge is even greater. Only 10 percent of S&P 500 companies have achieved growth surpassing the GDP for a continuous period of 30 years or more.2
A few qualities separate high-growth companies from the pack, but one advantage that many successful growth companies use to their benefit is the seamless integration and reimagining of marketing and sales functions (see sidebar, “The importance of marketing and sales: B2C versus B2B companies”). Creating new leadership to oversee marketing and sales—and beyond—is quickly proving to be a necessary move to understand and harness today’s increasingly complex customer journey and digital-sales channels.
The importance of marketing and sales: B2C versus B2B companies
At the center of successful growth companies that have maximized sales, marketing, and more is the chief revenue officer (CRO). Though the title may be different depending on the company (chief growth officer, chief commercial officer or chief experience officer to name a few), the responsibilities are generally the same. The CRO is tasked with creating a single revenue engine—from lead generation in digital marketing to closing the sale. The CRO’s role goes beyond sales and marketing to the entire market landscape, customer journey, and strategic expansion plans.
CROs understand all aspects of customer success and lead initiatives that align people, processes, and technology across the entire revenue cycle, whether the company is a start-up, a unicorn, or an incumbent. Put another way, a CRO harmonizes people, data, and measurements across their sales and marketing teams.
In this article, we explore where the CRO role is making a difference, when to add a CRO, who is best suited for the role, how CROs can transform the end-to-end customer journey, and why CROs have become critical to growth companies.
Comentarios