As businesses grow, they often need to restructure their leadership team to accommodate the changing needs of the organization.
One role that has seen more popularity in recent years is that of the Chief Revenue Officer (CRO).
The CRO is responsible for driving revenue growth across all areas of the business, from marketing to sales to customer success.
In this article, we will explore the insights of Andrea Kayal, a four-time CMO turned CRO at Teampay.
We will unpack the main themes from this episode of MasterSaaS Live:
We will also discuss the impact of inbound and outbound marketing on pipeline generation, the value of email marketing, and the effectiveness of incentives and direct mail in B2B marketing.
Kayal believes that the role of a CRO is to demystify the jump from CMO to CRO by emphasizing the importance of doing the right things and putting in the right people, process, and technology to drive revenue growth.
She stresses the need for accountability and PNL fluency, regardless of whether one comes from a marketing or sales background.
Kayal also emphasizes the importance of hiring experts to fill in the gaps in one's skillset.
For example, while she feels confident in her abilities as a marketer, she recognizes the need to hire experts in sales to drive revenue growth.
Kayal reveals that 70% of Teampay’s pipeline comes from inbound marketing, with email marketing being the most effective channel
She also notes that LinkedIn advertising is effective for their target market, and that search is a significant source of inbound leads due to the need-to-have nature of their product
Despite the rise of newer marketing channels, Kayal stresses the continued importance of email marketing.
She attributes its effectiveness to its low cost and the fact that it has been around for a long time, allowing for refinement and optimization over time.
Kayal believes that incentives and direct mail are effective in B2B marketing because they show respect for the recipient's time and offer something in return for their attention.
She notes that direct mail has been working for her for five years, and that people seem to appreciate it no matter what.
At Teampay, they use direct mail as part of their outbound marketing campaigns and offer incentives such as AirPods for taking a meeting.
Kayal also discusses the use of ChatGPT in marketing, noting that while it may be useful in other areas of the business, it has not yet proven to be a valuable tool specifically for Revops, but they do use other AI-powered tools like Gong to help forecast pipeline.
By emphasizing the importance of accountability and PNL fluency, she highlights the need for CROs to have a strong understanding of the financial aspects of the business.
Additionally, her emphasis on hiring experts to fill in skill gaps underscores the importance of building a strong team with diverse skill sets.
By leveraging the strengths of each team member, businesses can achieve greater success in driving revenue growth.
In conclusion, the role of a CRO is critical in driving revenue growth across all areas of the business.
CROs can build strong teams and achieve greater success.
Looking to the future, we can expect the role of the CRO to continue to evolve as businesses seek to drive revenue growth in an increasingly competitive landscape.
By staying ahead of the curve and leveraging the latest tools and techniques, businesses can position themselves for success and achieve their growth objectives.