Who’s responsible for overall company growth? The CEO, yes. And also the CMO, CTO, and CFO, right? Have you ever encounter an important role the CGO – Chief Growth Officer” per se?
“I know what you did in your last Marketing campaign, do you?”
Those roles tend to focus on growth, among other goals. But at an increasing number of organizations, a position has opened up that focuses only on growth: the chief growth officer (CGO).
How can you know whether creating a CGO role is a trend you should be paying attention to for your own company, and, more important, whether a CGO will be worth the investment?
Interesting: What is a CGO? Well, if you ask our friend Google the first thing which will popup is, ‘A CGO is the Chief Governance Officer’. Only on the second step, you will find web definitions to the Chief Growth Officer.
An infographic by Culture Amp, an employee engagement and analytics platform, explores this role and explains what it is.
Though every organization defines the role slightly differently, most agree a CGO has one main objective. To look at traditional aspects of business—like product development, marketing, and sales—and focus on growth opportunities. The CGO spends his or her time thinking about possibilities not only for the company but also for the customers it serves.
See some highlights from the infographic:
- Only 38% of CEOs are very confident about their revenue growth in the next year.
- There are 455
CGOsin the United States.
- Of those, 192 work for companies with fewer than 50 employees.
- In the past few years, big-name companies (The Coca-Cola Company, The Hershey Company, and Kellogg Company) have hired chief growth officers.
Check out the full and fun infographic below about “The Growth of the Chief Growth Officer [Infographic], to see what other benefits are driving the popularity of the CGO in our days. It is also for the purpose to see the positive effect of the said position to your business and the company as a whole.
Who is the CGO – Chief Growth Officer (CGO)?
- CGO ensures all marketing activities originate from a specific value proposition that is measured as prospects encounter marketing messages. Insights are related to sales reps to improve nurturing and conversion through value proposition continuity. Insights are relayed to product-team to influence feature development.
- CGO ensures all sales activities maintain value proposition continuity during the sales process and customer interactions are measured. Insights are related to marketing-team to improve value propositions, campaign messages, channel selection and budget allocation. Insights are relayed to product-team to influence feature development.
- CGO ensures all product development activities are prioritized to deliver the value customers have been promised and expect. Customer experience insights are related to marketing and sales to optimize acquisition, activation, revenue,
retentionand referral in the funnel.
Insights are used to introduce features that could create unexpected outcomes that delight customers.
- CGO ensures that marketing,
salesand product have a budget that allows for experimentation while achieving business revenue and profit objectives. Insights are used to mitigate wasting money on activities which are not moving the business towards managements growth goals.
What is a CGO?
The chief governance officer (CGO) is normally a senior vice executive reporting to the CEO, however in the not-for-profit sector when an organization uses Policy Governance the Chair of the Board often takes on the role of CGO, who is tasked with directing the people, business