The Power of a Customer Advisory Board: Is It Time to Organize Yours?

Shari King • September 17, 2024

I’m always surprised by how current and prospective clients react when I mention customer advisory boards and their effectiveness. The typical response is, “Really? I haven’t thought of that.”

Well, it’s definitely worth considering. Here’s why.

A customer advisory board can offer invaluable insights and steer your company’s strategic direction. It provides a structured platform for key customers to speak candidly about why they chose your company, what they appreciate about your products, and what improvements they’d like to see. This feedback is essential for understanding where to focus your efforts and resources.

As businesses evolve, they face an expanding range of challenges. Managing any business—large or small—can be highly complex, from legal and financial compliance to growth, operations, technology, marketing, and sustainability (which, trust me, no one has their head around quite yet).

Creating an effective CAB requires careful planning and follow-up. Here are some steps to consider:

Board Member Selection is Everything.

Hand-pick 8 to 12 members who represent your core business, have equal stature to foster a peer exchange environment and are willing to provide candid feedback.

Define Your Mission.

Be clear about what you want to achieve with your CAB. You only have this captive audience for a limited time, so be prepared.

Location, Location, Location.

Your customers’ time is valuable. Ensure your location is convenient, has well-equipped meeting rooms, and includes time for social interaction.

Record and Document.

With members’ consent, record meetings to capture clear and concise discussions.

“Here’s What We Heard.”

Review the recordings and documentation, then follow up within a week to recap insights, action items, and outline next steps.

Maintain Ongoing Engagement.

CAB membership should typically last for one year, with meetings held quarterly. In-person meetings are generally more engaging (and focused) than virtual ones. Rotate CAB members annually but allow those who were particularly collaborative to renew their membership.

I’ve had the pleasure of organizing and facilitating customer advisory boards, and I can attest to the immense value of the feedback. CABs provide a deeper connection with your customers and help build lasting relationships that foster brand loyalty. And I guarantee you’re likely to experience several “Aha!” moments along the way.

Click here to learn more about how a customer advisory board can benefit your business and how NP Strategy can help you get started. We’re here to guide you every step of the way.