Chief Revenue Officers
Exploring this Job
Learn more about financial management by joining a school club or organization. Volunteering as a treasurer is a good way to hone math skills and gain insights into revenue management and revenue streams. Get a part-time or summer job at a financial organization or the accounting department of a company for more exposure to this type of work. An information interview with a chief revenue officer will also give you insights into the profession. Ask your school's career services office for help with setting up the interview, and be sure to prepare a list of questions in advance. You can also search for chief revenue officers to follow on social media, such as Twitter and LinkedIn.
Keep up with industry news and career opportunities by reading publications such as Barron's (https://www.barrons.com), Entrepreneur (https://www.entrepreneur.com), Forbes (https://www.forbes.com), The Wall Street Journal (https://www.wsj.com), Bloomberg Businessweek (https://bloomberg.com/businessweek), Fortune (https://fortune.com), Financial Times (https://www.ft.com), and Wired (https://www.wired.com).
The chief revenue officer is a corporate executive with years of experience in guiding companies' revenue generation. They focus on strategic planning, the development of products, branding, and marketing, and also maintaining and building new partnerships. They typically report to the company's chief executive officer, and work closely with an executive team that represents various departments within the company. Together, they ensure that all functions of the company's departments and their operations are integrated and aligned to sustain and increase revenue generation. The chief revenue officer also oversees the revenue systems and programs, noting where improvements can be made to increase efficiency and grow the revenue stream.
The objectives of the chief revenue officer's job, as described in a LinkedIn business article, also include managing a global sales team to increase business in all customer segments and profiles. Chief revenue officers also work with the marketing department to improve the individual customer experience and strategy. Other objectives are to add new partners to maximize efficiency and reach of the company's products and services, build and develop creative teams, and monitor revenue pipelines and leads. Chief revenue officers stay tuned to the marketplace and study opportunities for companies, by conducting competitive analyses and providing tactics and strategies. They also collaborate with different departments within companies, such as finance, product management, and marketing, on the development and execution of messaging, pricing, and business models to improve revenue streams.
The main responsibility of chief revenue officers is to oversee revenue generation strategy and execution. One revenue strategy organization listed the activities that chief revenue officers oversee as follows: define ideal buyers, select market segments, isolate audiences to engage using data-driven insights; set goals based on internal and external market opportunities in specific markets; partner with product teams to define offerings; develop and refine offer propositions and positioning, and develop solutions and product value differentiators; define go-to-market models to access buyers, customers, and influencers; and manage program portfolios to attract and engage customers.