The Institute for the Study of Business Markets (ISBM) is a center of excellence in the Smeal College of Business at Penn State that is dedicated to expanding academic research and teaching in B2B Marketing 
and Sales, and improving the practice of B2B Marketing and Sales in Industry. ISBM is networked with researchers, educators and practitioners in business-to-business marketing in companies and universities throughout the world.
Please join the ISBM and National Bestselling Author Sean Geehan for a special webinar event:
Dominating the B2B World: Sustainable, Predictable and Profitable Growth on March 22, 2012 at 1pm EST
In this webinar, Sean Geehan Author of the B2B Executive Playbook will illustrates the three key differences in the B2B world along with what to do about them. B2B companies aren’t like B2C companies. They don’t acquire and retain customers with Super Bowl ads, Twitter accounts, or cute, little green geckos. To achieve sustainable, predictable, and profitable growth, you MUST follow a different playbook.
What is a Customer Advisory Board?
A Customer Advisory Board, also known as Customer Advisory Council, is a gathering of group of customers once or twice a year to provide a collective input about products or services offered by a company that they currently do business with.
What is the Goal of a Customer Advisory Board?
The main goal of a Customer Advisory Board is to obtain input on products and services from your most valuable customers. Customer Advisory Boards are incredibly useful in both B2B and B2C organizations because input gathered from these meetings can provide product validation and insight in the reception your product or services.
What is the Benefit of a Customer Advisory Board?
Customer Advisory Boards often yield priceless feedback for companies looking for methods to improve themselves, their strategy and, their customer retention. Companies can synchronize technology and business strategies according to the needs of the customers expressed through customer advisory boards.
I recently came across an article by Tom Searcy,
Break down a Sales Presentation like an ESPN Analyst, where he suggests that you prepare for a sales meeting the same way ESPN’s analysts prepare for their pre-game shows: do the match-up analysis, know the stats, identify the 1-2 things to win, calculate the risks; and, understand the game-changers. Dare I say this is relevant to a Customer Advisory Council meeting, as well?
Now we all know, or at least we should, that Customer Advisory Council meetings are
not intended to include sales presentations and that anything that even hints at selling is a recipe for disaster. Don’t do it…. ever. Resist the temptation at all costs as you will lose the trust of your board members and could cause irreparable damage to your existing relationships.
That said,
members of your executive team should indeed, do these five things to prepare for a Customer Advisory Council meeting:
- Do the match-up analysis. Take time prior to the meeting, perhaps en-route to the meeting destination so it’s good and fresh, to review the profile and photo of each member. Knowing each member's responsibilities, background, and interests will help you connect with them on a more personal basis and help you introduce them to their fellow Council members. Additionally, during the Prep Session, assign an executive to serve as “host” to 1-2 Advisory Council members, especially if they are new to the group.
- Know the stats. Review company profiles, financials, recent news and press releases, and have an understanding of the volume and types of business they do with you. This information will help you better understand their perspectives on key issues discussed during the meeting.
- Identify the 1-2 things to win. Since these are your top customers, chances of good that you have deals pending. Know what they are, what it will take to win them, and any other opportunities that may be coming your way.
- Calculate the risks. Likewise, know if there are any unresolved customer-service issues that may come up in conversation. You don’t want to be caught off-guard and ill-prepared to address them if they do.
- Understand the game-changers. Know who the other key leaders are and how your Advisory Board Members may influence them.
In other words, prepare for the meeting like ESPN’s analysts prepare for their pre-game show. Know the elements of the game… the strengths and weaknesses of the players, and their team’s strategies and statistics. The “pre-game” analysis will be worth your time. It will provide more direct focus for your interactions with members, will lead to a better understanding of their perspectives, and will ultimately lead to a win! Go Team!
Every year at this time, you hear all of the hoopla around one of Pennsylvania's most recognized residents - Punxsutawney Phil. I always end up laughing as my mind then shifts to Bill Murray's classic performance in the movie Ground hog's Day. We all know the premise: a guy gets to "re-do" the same day over and over and over again, but discovering little nuances and trying new things along the way, in order to get to the outcome he really desires (to get the girl).
In business, wouldn't it be great if we had that ability? Not to 'get the girl', but to be able to see every possible angle before we execute. Every strategy, every sales call, every marketing campaign, all fully vetted through numerous attempts of trial and error. Well, of course we can't really do that. Not exactly anyway. But, we do have some terrific 'guidance' tools at our disposal: personal experience and the collective experience of our customers.
When setting strategy, designing a marketing program or campaign, or virtually anything else, our own personal experience can be a directional guide - allowing us to move generally in the right direction. By leveraging the collective experience of others - our peers and most importantly, our customers, we can fine-tune our direction, exacting a path to success. The experience of the collective is akin to the trial and error in Ground hog's Day, only we didn't have to experience it ourselves. Customers will (in one form or another) tell us everything we need to know. We just need to provide a forum to enable us to listen.
Sometimes in business it feels like many companies are caught in the same loop - making similar mistakes over and over again. Progress and growth have slowed, and there can be a sense of frustration. Organizations that actively engage and listen to their customers (or collective) are breaking out of these never-ending loops and are thriving. What path is your company on? Start your journey by answering this question: "Are you actively listening or are you living in your own Ground hog's Day???"
I recently sat down with a well respected former CMO (now President), and had a great conversation about the important role Marketing plays in a B2B company. He made a very bold statement,
“Marketing is the Center of Universe.” Someone might argue that, I am biased because I hold a role in marketing, but I believe this statement to be very true. If you don’t, you should and here’s why:
Marketing is the common thread that weaves throughout all other business units in every B2B company. Marketing holds the potential to unleash predictable, profitable growth for your company. When Marketing is utilized to its fullest potential, it can be the driver for customer retention and increased sales, while at the same time creating executive alignment and focused strategic innovation.
How can Marketing do all this? Because Marketing is the
“Center of the Universe”! Author Sean Geehan discusses all of the marketing programs and initiatives driven by Marketing to achieve sustainable, predictable, profitable growth in his
national best seller,
The B2B Executive Playbook. Once you read this book, I would wager a bet, that you will believe that Marketing is the "Center of the Universe" too!
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