About the Episode
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About the Episode:
As higher ed faces increasing headwinds, hiring a Chief Revenue Officer (CRO) is no longer a luxury—it's a strategic necessity. As demographic shifts, escalating costs, and growing competition put more pressure on institutions, a CRO's role in unifying revenue-generating efforts becomes critical.
In this episode, Jaime sits down with Steven Rutt, the Chief Revenue Officer for Abilene Christian University, to tackle this topic. This episode includes insights about:
- The ways a CRO can connect the dots between admissions, marketing, online programs, and fundraising;
- How a CRO ensures that traditionally siloed departments work together toward shared institutional goals;
- How a CRO can foster a culture of strategic thinking around student acquisition, retention, and lifetime value; and
- The ways a CRO enhances financial sustainability and encourages innovation.
Episode Summary
What prompted the creation of a Chief Revenue Officer role at Abilene Christian University?
Steven Rutt’s appointment as CRO was spurred by Abilene Christian University’s commitment to becoming a national university and sustaining growth in a changing higher ed landscape. With a president who embraces calculated risks and strategic thinking, ACU recognized the need for a dedicated role to manage revenue across the institution. Steven’s role as CRO emerged as a solution for bridging financial and enrollment gaps, especially in a post-COVID world where student expectations are rapidly evolving. As a CRO, Steven’s focus is on harnessing data and analytics to guide strategic decisions in resource allocation, budget management, and program growth across both online and residential campuses.
How does the Chief Revenue Officer role operate differently from traditional marketing or enrollment leadership?
While marketing and enrollment are central to Steven’s responsibilities, his role emphasizes a holistic approach to revenue generation, with a strong reliance on data and analytics rather than direct oversight of these departments. Steven describes his role as analytical, using data to drive efficiencies in enrollment budgets, optimize resource allocation, and align financial goals with enrollment targets. By managing the budget for both online and residential programs, he’s able to see synergies between them and identify areas for strategic investment. This unique setup positions the CRO role as a connector, coordinating efforts across departments to ensure alignment with the university's long-term goals.
How is Abilene Christian University leveraging data to set realistic and market-driven enrollment targets?
At ACU, Steven emphasizes the importance of a data-informed approach to enrollment target setting, which contrasts with the traditional, often arbitrary, top-down goals many institutions face. By analyzing external data sources, such as IPEDS, and breaking down targets by program and geography, Steven’s team can set actionable, achievable goals that reflect current market realities. This data-centric approach also involves integrating insights from academic partners, which aligns program development with enrollment efforts to build targets from the bottom up rather than imposing them from the top down.
What challenges does ACU face in balancing online and residential program needs, and how is data helping?
Balancing investment in online and residential programs is a challenge many institutions face, with concerns about resources shifting too heavily toward online at the expense of traditional offerings. At ACU, Steven uses data analytics to assess and meet the unique needs of each campus. By setting clear, data-informed targets and applying a coordinated approach to resource allocation, the university aims to ensure both program types receive adequate support and funding. This approach helps prioritize resources across campuses effectively and aligns financial strategy with enrollment goals, setting a foundation for sustainable growth in both areas.
How does the CRO role support collaboration across departments to overcome traditional silos?
Steven explains that ACU’s model, described as "collaborative governance and integrated operations," breaks down silos between departments to foster alignment and improve the student experience. By incorporating perspectives from marketing, academics, and enrollment into program decisions, this governance structure ensures that initiatives are both comprehensive and effective. Steven emphasizes the importance of feedback loops and shared data, which help departments align their efforts with shared objectives, thereby accelerating program development and improving outcomes, such as increased enrollment and higher retention rates.
What advice does Steven offer to institutions considering a Chief Revenue Officer role?
For universities interested in creating a CRO role, Steven advises assessing institutional readiness, particularly in terms of leadership buy-in and cultural openness to new ideas. He underscores the importance of having a forward-thinking president who is committed to strategic, data-driven change, as well as a culture willing to embrace cross-departmental collaboration. A successful CRO role, he notes, is not just about organizational efficiency but about finding innovative ways to drive revenue growth, whether by creating new product lines, improving existing programs, or developing long-term strategies that respond to shifting market demands.
To hear this interview and many more like it, subscribe on Apple Podcasts, Spotify, or our website, or search for Confessions of a Higher Ed CMO in your favorite podcast player.
Connect With Our Host:
Jaime Hunt
https://twitter.com/JaimeHuntIMC
About The Enrollify Podcast Network:
Confessions of a Higher Ed CMO is a part of the Enrollify Podcast Network. If you like this podcast, chances are you’ll like other Enrollify shows too!
Some of our favorites include Talking Tactics and Higher Ed Pulse.
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