Ruby: What is a chief revenue officer?
Rebecca Grimes: Well, a chief revenue officer, or CRO, is responsible for the entire customer journey all the way from lead acquisition, through nurture, through the sales process through the welcome to Ruby process, through ongoing support and retention and service. It’s the full customer journey and having line of sight to understand that every single touch point needs to feel seamless and connected to the work that we’re doing in service of our small business community.
Ruby: How is a chief revenue officer different than a chief marketing officer?
Rebecca Grimes: A chief marketing officer traditionally only has responsibility up into the point of sale. So, acquiring the leads, pushing them through the funnel, readying them for that moment of consideration when they’re ready to buy and then it gets turned over to the sales process. As a former chief marketing officer, I actually love the fact that we have a revenue team that thinks holistically about the entire customer journey and the revenue life cycle across that.
Ruby: Why should companies look beyond conventional marketing objectives and focus on growing revenue?
Rebecca Grimes: Growth doesn’t need to be just that new customer acquisition. Growth is about understanding the needs of your customers and prospective customers and making sure that you are marrying that with products and services that deliver on those needs and not just the first time, every single time that you have an opportunity to interact with them. So the ongoing revenue opportunity for growth is rooted in new customer acquisition, cross-selling upselling your existing customer base, and of course, retention and referrals and everything that comes from building a relationship with your customers.
Ruby: How can more businesses adopt a growth mindset and boost their revenue?
Rebecca Grimes: One of the earliest pieces of wisdom that I learned in my career was this concept of outside-in versus inside-out thinking. And what that really means is that you look outside your organization for inspiration, for understanding of who your ideal customer profile is, their needs, the value that you deliver to them, the price they’re willing to pay for those services and products, and you match your business and your growth and your expansion to meet those needs. It really is that simple.
Ruby: Thank you, Rebecca!