Chief revenue officer (CRO) is not only a relatively new title, but it is the fastest-growing job in the United States over the past five years, Fast Company reported, using data from LinkedIn.
Also
known as head of revenue operations (RevOps) or head of revenue
management, the job draws from a number of skills and backgrounds, such
as sales operations, customer relationship management (CRM) and data
analysis.
“Heads of revenue operations oversee all aspects of an
organization’s revenue-generating activities, often working closely with
sales and marketing teams to ensure go-to market strategies support
business goals and revenue growth,” LinkedIn stated.
The hot
spots for hiring of this position are San Francisco, New York and Los
Angeles. The gender distribution is uneven, as men currently hold 64
percent of these roles, according to LinkedIn.
“CROs can cut
through the tangled and counterproductive bureaucracy to forge new paths
grounded firmly in data, customer desires, and high-level problem
solving wrote Erol Toker, the founder and CEO of Kitt AI, an artificial intelligence bot platform, in Fast Company. “This is why
more CEOs are betting on CROs.”
In generating revenue as
efficiently as possible, “they see revenue as one holistic journey, not
broken up into stages like marketing, sales, and customer service,” he
wrote. Accordingly, they break down existing processes and create new
ones by applying RevOps methodologies to identify the root cause of
problems such as difficulties in closing sales deals or the buying
process itself.
“A CRO can restructure the buying process around
the ideal, uncomplicated buyer journey,” he wrote. “They look at data
from happy buyers to understand what drew them in, and data from those
who dropped out of the journey to assess what’s not working for them.”
CROs
can also change how employees work. The use of automation “will ultimately drive sales reps and others away from
low-value tasks, and towards all the work that moves the needle,” he
wrote. Of course, “CROs will always need high-level thinkers who will be
able to analyze data and identify solutions,” he added.
“CROs
will use RevOps techniques to figure out the lowest friction way for
potential customers to get from A to B to C—and they will need to work
with employees to make this happen,” he concluded. “If the data [are]
correct, and CROs are the fast-growing job title, we should all prepare
to work with CROs as well.”
The second-fasting growing job, according to the LinkedIn report, is human resources analytics manager, followed by diversity and inclusion manager, truck driver and employee experience manager.