Understanding the Revenue Function as a CRO with Steven Schmidt
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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.
- 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.
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