Why CROs are not leaving but CMOs are
I've had several conversations with CRO's (Chief Revenue Officers) at multiple emerging B2B Tech companies. Specifically, SaaS companies who are working to unlock growth. (lots of acronyms, but I'm sure you can keep up 😀) It's weird what's happening right now. VC backed SaaS companies are having success finding CRO's, but incredibly challenged in finding CMO's (Chief Marketing Officers). It seems that there is a stronger ability for CRO's to be recommended through VC networks and amongst entrepreneurs, but CMO's are harder to come by. I'm still investigating if what I'm seeing is an actual trend, but if it is, I have several theories on why that is. Keep in mind that my worldview only considers the roles in emerging B2B Tech companies.
CRO's are not resigning. CMO's are. CMO's are resigning en masse and taking on a fractional CMO or consulting role as an alternative. I've done several blog posts on this topic. The Great Resignation is impacting the CMO role the most.
CRO's make more money (when they perform) and get more equity that keeps them in the role.
There's still an "old boy's club" in Tech and CRO's are ALWAYS a part of it. CMO's rarely are.
I have a lot more theories that I'm planning to discuss in the upcoming Livestream on why CRO's thrive with a Fractional CMO - which I hope you can join! Have theories of your own or a different perspective? I'd love to hear about it!
All The Best, Brett