|Kevin M. Morgan,
EVP & Chief Revenue Officer,
National Lacrosse League
Chief Revenue Officer,
Investability Real Estate Inc.
Chief Revenue Officer,
Prudential Center & New Jersey Devils
Chief Revenue Officer,
Trusted Media Brands
Insights from the Experts changing revenue optimization strategy in their industry
Corinium’s Chief Revenue Officer Forum on Revenue Optimization Strategy, America’s first cross-industry conference for Chief Revenue Officers is designed to meet the needs of C-Level Executives who are responsible for all revenue-generating processes, execution and marketing in today’s economy.
Today, we take a look at four of the experts joining us in a little closer detail as they share some further insight in this short interview:
1. What are the top 2 concerns/hot topics that you are facing today?
KM- Revenue generation/ revenue optimization strategy in the OTT space, digital broadcast.
AD- The future of Regional Sports Networks and the evolution of ticket sales.
DC- Is our value proposition clear enough/powerful enough to the customer to ensure strong conversion? What is the most cost effective method to consolidate a customer base of 11 million people that use varied sources for information gathering?
RS – Programmatic buying: deteriorating RPMs and staffing. Access: getting in front of decision makers has gone from hard to next-to-impossible.
2. Has your role or responsibilities changed in the past 3-6 months? If so, how?
KM- We have a 30-year-old start up on our hands and are positioning the league for growth.
AD – No. The mission has stayed the same.
DC – I think with any company that is in growth mode, most executives see their roles evolve frequently, even on a quarterly basis. Personally, one of the biggest changes is that I now oversee our relationships with other subsidiaries of our parent company. This was borne out of necessity to move along strategic initiatives with potential internal channel partners. Sometimes mid-level management doesn’t have the clout necessary to get the job done. It’s an unfortunate reality, but every executive should be willing to get their hands dirty to ensure success.
RS- Yes. CROs need to have a huge hand in data, whether the organization has a head of data or not. The CRO needs to understand data and have a working, hands-on knowledge of how best to monetize it.
3. How do you keep your team motivated?
KM- Positive reinforcement and we all celebrate the little wins.
AD – Through transparency, guidance, support, love and providing autonomy to run their business.
DC – We take adding new staff very seriously. I am a firm believer in team chemistry being an essential part of larger success for a company. For us, it’s really about three things: the product, the process, and the people. People get excited working on products they believe are necessary or will be well received by the market, they want to feel that the internal processes to do their job are simple enough that they are empowered to succeed, and they want to work with people that can check their ego at the door and focus on getting the job done and having fun along the way.
RS- You can’t motivate people. You hire “thoroughbreds,” give them a great saddle and a clear track — and get out of the way. Beyond that, all I can do is say “yes,” and be a good coach.
4. Who are the service providers or 3rd parties you have started working with, and why?
KM – Large content distribution partners to be announced in a few days.
AD – Sylvan Labs and KAGR to better understand who our customers truly are, what they want, what they like and how to target them individually/personally.
DC – Saleforce, HubSpot, Tableau, and QuickBase are some essential third-party service providers that are allowing us to take our platform to the next level. Even more important is that all of the systems can be integrated via SalesForce so we have total clarity into how we are performing internally and externally.
RS – We like Taboola and Lotame. And we have several third party independent representation agreements we like for the same reason: superior customer service.
5. What keeps you up at night regarding this job?
KM- Wondering which market will be our next franchise.
AD – Hitting budgets and making sure I have the right people in place to set us up to be successful.
DC – Smart growth. Creating scalable infrastructure and maintaining the discipline necessary for organic growth in the face of exponential revenue projections.
RS – This quarter’s goal. This year’s goal.
6. What does the evolution of this role look like in 5 years?
KM- It will be different with regards to growth, we will have 10 more teams in five years and revenues and operations will be well vetted and established.
AD- Heavy focus on content sales vs traditional benefits sold in sports today.
DC – Today the CRO role doesn’t even exist in most industries and that’s the first shoe to drop – the acceptance of this role as an integral part of the C-Suite. I think if you surveyed the areas of responsibilities among CRO’s today you’d have a wide array of answers. Going forward, I think everything under sales, marketing, revenue management, strategic planning all roll up to the CRO and that it becomes a more readily accepted position that has the diverse skills necessary to be able to transition to a CEO role.
RS – In five years the CRO is going to employ fewer sellers — and more analysts and strategists. That’s the big change.
Understand how to drive your revenue optimization strategy at Chief Revenue Officer Summit in NYC >