The purpose of the chief revenue officer is to drive organic revenue growth by leveraging all revenue-generating departments, including marketing, sales, customer support, pricing and revenue management. The CRO guides all revenue-related activities, maintains an excellent communication framework across various organizational functions, and shares best practices among revenue stream managers to maximize revenue and create organic revenue growth.
How does the CRO differ from the CFO? Think of the CRO as being responsible for “anywhere revenue has touched,” says Jim Compton, who became Continental Airlines’ first-ever CRO in the 2000s and today holds the same title at United Airlines. His direct reports include the heads of global sales, revenue management, marketing and customer loyalty programs, who work through him to reach a unified agreement on recommendations before presenting them to the CEO.
Jeff Foland, who became Hertz’s first CRO in January 2015, says the job is about the “scalability and synchronization” of all revenue functions. Companies that don’t have those functions “appropriately stitched together” miss out on “a synchronized and concerted effort to really move the needle on how you’re going to generate incremental revenue.”
CEOs mulling whether to create this new role should know that chief revenue officers can aid in everything from product creation and pricing strategies to sales performance and the effectiveness of advertising and distribution.
CEOs should look to fill this position if they want someone in the C-suite who will:
Overall, the hiring of a chief revenue officer can deliver improvements and/or efficiencies as high as 10 percent.
The CRO role brings a fundamental change in the organizational chart, which may scare some companies. But it also provides precision and a consistent lens on revenue generation, while serving as an invaluable advisor to the CEO.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
