Your obligations as a Revenue Operations leader are under constant pressure. Your sales team is constantly under the watch of the Executive Team and Board of Directors; however, their priorities aren’t necessarily coordinated. The lack of clarity from the top and the looming quarterly number compounds the tyranny of urgency. This is a widespread problem that has introduced a new executive profile, one that can infuse Revenue and Customer DNA into the existing team to drive lasting growth. Enter the Chief Revenue Officer.
The role’s responsibilities vary by organization. All CROs have Sales within their oversight. Some are entrusted with other revenue-generating functions (Marketing, Product, Customer Success, etc.). A select few are responsible for the entire Go-To-Market organization. The primary purpose of the CRO is to align and optimize the customer lifecycle with the objective of accelerating revenue growth.
As the Revenue Ops leader, you should be excited for the oncoming wave of change. Align yourself to the new leadership model, and position yourself as the Chief of Staff of the CRO. There is a tremendous upside if you choose to do so. You and your team will be change agents – driving alignment, accountability, and win-win outcomes across the entire organization. You are going to develop new solutions that have a significant, direct impact on profit and loss. Your influence within your organization is about to grow big time. If this may seem overly ambitious, it’s not. You are 100% in control of your organization’s trajectory. But where do you even start?
Empower Organizational Change via Data Transformation
It’s no secret that data is the new oil, and you have access to more than you think. Internal, Public, and Third-Party Data is cheaper and more accessible than ever. The CRO will want to weaponize everything you have to drive change and capture revenue growth insights. The problem is the lack of a centralized system that analyzes, aggregates, and reports from disparate data sources. No platforms to access common reports, build models, and derive meaningful insights from a single source of truth. It doesn’t have to be this way. You own the tech stack and the data, be the change agent to support the new role of Sales.
Top organizations begin their data transformation journey by establishing a Data Center of Excellence (DCOE). A centralized DCOE is the foundation for an organization that treats data as a strategic asset. The purpose is four-fold:
1) Establish Governance and Best Practices
2) Purposeful Disruption
3) Frameworks and Repeatable Workflows
4) Analytic Proficiency
The chartering team is cross-functional, typically comprised of people from Revenue Ops, BI/Analytics, Marketing, Change Management, IT, System Integrators, and Consultants. Each stakeholder is important, but the initiative will not be successful without the buy-in from the IT/Technology organization. Click here to download our DCOE charter framework to spark ideation and frame a compelling business case.
Key Considerations When Chartering the DCOE
Corporate Goals, Data, People, Process, and Technology. They are all equally important; neglecting any is a recipe for failure.
- Corporate Goals: Is there a clearly articulated and aligned corporate strategy? It might seem like common sense, but you’d be surprised by how many organizations struggle with Step One. Strategic alignment is not easy; click here to learn best practices to align strategy with execution.
- Data: Does your data have integrity? Do your reps keep your CRM updated and accurate? What silos prevent you from accessing data from other functions?
- People: What skills do your current resources have? Who are the SMEs and Evangelists that can nurture a culture of analytics?
- Processes: How will the DCOE framework fix with existing processes? What legacy processes can be sunsetted?
- Technology: What is the current state of your stack? What are you using, and why? The value in technology is only realized when the tools allow your team to operate with autonomy, and capacity is freed to focus on higher-value analysis.
The New Role of Sales Is Evolving, Especially for Companies with a CRO
Boundaries are blurred between Sales, Marketing, Customer Success, and Service under this model. Now, everyone does a little bit of everything. Rather than perpetuating legacy revenue models, the CRO office unifies functions to create new revenue-driving solutions for customers, while telling a compelling story. To position yourself and your team as the right-hand of the CRO, be the change agent that fosters a culture of analytics. Embark on a data transformation, and charter a DCOE in your organization. The purpose of your team’s work will cascade and impact the organization in meaningful ways:
- Established Governance and Best Practices
- Purposeful Prioritization and Disruption
- Frameworks and Repeatable Workflows
- Analytic Proficiency
Taking the first step is the hardest. Fortunately, SBI has tools and resources to help along your journey. Click here to download our DCOE charter framework to help inform your thought process. As you fill out the template, consider the following factors: corporate goals, data, process, people, and technology. Once completed – you’ll have a framework, plus all the evidence you need to spark change and nurture a culture of analytics. If you need a sounding board from a revenue growth expert, we’re here to help. Click here to contact us and schedule a commitment-free consultation.