The Art of Asking "So What?"
Today Ian interviews John Foong, CRO of Domain Group. John tells us how to leverage metrics rather than drown in data, and how to demonstrate your business’ value, even in a tight market. He also describes how you should treat frequent flyers; whom John calls his best customers.
Domain Group is a leading Australian property marketplace made-up of a portfolio of brands. They are united in their purpose to inspire confidence in life’s property decisions. Domain Group is building what you might call the incredible find – the right size, space and environment for you to love what you do and who you do it with. With Domain, you’ll make your mark and make a difference. And you’ll be part of an inclusive team of unique individuals that are inspired by the opportunity that sits before them. Their brands offer products and solutions to consumers, agents, and parties interested in property across every step of their property journey. They are motivated to innovate in the industry and leverage our unique data, products, and technology to deliver solutions to their customers that are found only on Domain. Headquartered in Sydney, they are a group of over 900 passionate people all across the country. Domain’s values drive a strong culture, and they are committed to ensuring they act in a way that supports the environments and communities around them.
Guest Bio
John joined Domain as CRO in September 2021, having previously held senior leadership roles at Uber, Google and McKinsey & Co. John has focused on accelerating Domain‘s marketplace strategy leveraging Domain mantra of “Better Together”. John’s focus is helping agents build sustainable and effective businesses by offering a set of connected solutions to supercharge agents workflow to complete today's tasks in half the time. He was ranked #36 in Elite Agent’s “Most Influential Leaders in Australian Real Estate” at the end of 2022.
John has a Bachelor of Commerce Honours from degree UNSW and an MBA and Masters in Education from Stanford University, where he was the Class President.
Guest Bio
John joined Domain as CRO in September 2021, having previously held senior leadership roles at Uber, Google and McKinsey & Co. John has focused on accelerating Domain‘s marketplace strategy leveraging Domain mantra of “Better Together”. John’s focus is helping agents build sustainable and effective businesses by offering a set of connected solutions to supercharge agents workflow to complete today's tasks in half the time. He was ranked #36 in Elite Agent’s “Most Influential Leaders in Australian Real Estate” at the end of 2022.
John has a Bachelor of Commerce Honours from degree UNSW and an MBA and Masters in Education from Stanford University, where he was the Class President.
Episode Summary
Today Ian interviews John Foong, CRO of Domain Group. Domain is one of the largest property marketplaces and portals in the Southern Hemisphere. John tells us how to leverage metrics rather than drown in data, and how to demonstrate your business’ value, even in a tight market. He also describes how you should treat frequent flyers; whom John calls his best customers.
Key Takeaways
- Data has a critical role in business operations. It’s not only used to measure performance but is also tied to incentives across various roles within the organization.
- The Chief Revenue Officer needs to have a strategic approach to revenue, while focusing on aspects within the company's control; such as pricing models and market positioning, to influence revenue outcomes despite the external market.
- It’s hard to show the value of your services in a cost-conscious environment. So, showcase the value provided by your company, especially when facing budget constraints.
Quotes
“Data is crucial and data is used in so many different ways. I think from a day-to-day perspective, we use data to measure performance. So wherever you are in my organization, whether your job is to sell, uh, account management or to manage a customer support query, you have a set of metrics, and those metrics are tied to your incentives.” ––John Foong, CRO, Domain Group
Episode Highlights
**(00:50) - John’s role at Domain
**(01:33) - Defining RevOps
**(06:48) - Building RevOps Strategy
**(11:45) - RevObstacles
**(14:28) - RevOops
**(25:10) - The Toolshed
**(36:41) - Quick Hits
Episodes Transcript
- Data has a critical role in business operations. It’s not only used to measure performance but is also tied to incentives across various roles within the organization.
- The Chief Revenue Officer needs to have a strategic approach to revenue, while focusing on aspects within the company's control; such as pricing models and market positioning, to influence revenue outcomes despite the external market.
- It’s hard to show the value of your services in a cost-conscious environment. So, showcase the value provided by your company, especially when facing budget constraints.
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