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FAQ: Why Create A Customer Advisory Board?

FAQ: Why create a Customer Advisory Board?

Business is personal. Now more than ever it’s imperative to build deeper relationships with your best customers. It’s well known that your top 20% of clients typically generate 80% of your revenue. Engaging key decision makers in these accounts through a Client Advisory Council or board will deliver:

  • Early warnings of shifts in customer needs and emerging opportunities (Market Research)
  • New Product Development feedback (Innovation)
  • Reduce customer attrition and churn, especially among Customer Advisory Board members (Customer Loyalty)
  • Advice on approaching and appealing to similar customers, including referrals (Sales)
  • Intelligence on competitor’s tactics and strategies – what’s working and what’s not (Market Intelligence)
  • A Customer Advisory Board can drive significant new revenue if managed effectively!
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