During this episode of the CRO Spotlight show, Warren chats with Steve Schmidt who shares his experience as a Chief Revenue Officer (CRO) and discusses the importance of fully understanding how revenue functions within an organization.
Steve, shares his journey of becoming a CRO and how he learned to navigate the role through a baptism by fire in 2020. He emphasizes the significance of the CRO role and its various functions, including outbound and inbound motions, retention motion, and operational motion.
Steve believes that a CRO needs to be enabled by the CEO to cruise through the organization and be the right-hand person. He also stresses the importance of understanding the capital outlay for the tech stack, optimizing it, and measuring metrics like cost of acquisition (CAC) to drive revenue growth.
Key Takeaways:
- The CRO role is critical for an organization's revenue function and involves various functions like outbound and inbound motions, retention motion, and operational motion.
- The CEO needs to enable the CRO to navigate through the organization and understand the capital outlay for the tech stack to optimize revenue growth.
- Measuring metrics like CAC is crucial to understanding the economics of the business and making informed decisions to drive revenue growth.
Connect with Steve
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