Mind of the CRO: Navigating Revenue Growth
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The CRO: A Strategic Partner Poised for the CEO Role
Published on 7th May 2024
#executiveoffice #sales #cro
“The CRO function has grown more strategic in recent years... Our research suggests that the CRO role provides excellent preparation for the CEO position.”
By Steven Thomas
This article examines the growing prominence of the Chief Revenue Officer (CRO) within the C-suite. We explore the evolving CRO role, its key characteristics, and why CROs are increasingly seen as prime candidates for the CEO position.
The Changing CRO Landscape
Similar to the COO role, the CRO function has grown more strategic in recent years. Digital technologies and a focus on sustainability are driving this transformation. To understand these high-performing leaders, Steinwick analyzed psychometric data from over 100 CROs globally.
Key CRO Characteristics
Our research identified six common characteristics among CROs:
Pragmatic and Composed: CROs are decisive and collected under pressure.
Collaborative Individualists: They value teamwork while possessing a strong sense of ownership.
Avid Learners: CROs are curious and continuously seek new knowledge.
Driven and Ambitious: They are goal-oriented and possess a strong work ethic.
Creative and Resourceful: CROs are adept at problem-solving and developing innovative solutions.
Service-Oriented: They are motivated by a desire to contribute to the organization's success.
Regional Variations: European vs. North American CROs
While there are commonalities across regions, some distinctions exist between European and North American CROs. For instance, North American CROs tend to be more:
Commercially Driven: They place a higher emphasis on financial performance.
Individualistic: They have a stronger preference for independent work.
Understanding these variations can inform talent acquisition strategies.
CROs as Future CEOs
Our research suggests that the CRO role provides excellent preparation for the CEO position. Many CEOs have transitioned from CRO roles, highlighting the valuable skills honed in this function. An analysis of psychometric assessments revealed only minor differences between CROs and CEOs, with CEOs exhibiting a:
Higher Propensity for Risk-Taking
More Dominant Presence
Stronger Preference for Creative Environments
These insights can guide the development of CROs with CEO aspirations.
Effective CRO Development and CEO Succession Planning
By understanding the characteristics of successful CROs, organizations can improve their talent management strategies. Here are key takeaways for leaders:
Utilize CRO Benchmarks: When recruiting or developing CROs, consider the six common characteristics identified in our research.
Recognize Regional Variations: Account for potential differences between European and North American CROs.
Plan for CEO Succession: The insights from this study can aid in developing CROs for potential CEO roles.
Invest in Assessments: Psychometric assessments can provide valuable data to support CEO succession planning.
By leveraging these findings, organizations can develop high-performing CROs who are well-positioned to take on the CEO mantle.
Steinwick — How we can help
Growth-Oriented Leadership.
We understand that finding sales, revenue, and commercial strategy leaders who can seamlessly translate the CEO's vision into reality is paramount. Our executive search services are designed to identify candidates with a proven track record of strategic thinking, data-driven decision making, and the ability to build high-performing sales teams.
Discover how we can architect your sales success — contact us.