With the today’s tough economy, many companies are unsure as to whether they should hold their spring CAB meeting or not. While they have penciled in their CAB date for either late May or early June, these companies have been hesitant to take any real steps to plan their meeting until their customers have confirmed their attendance. Yet because the attendance list is in limbo, it’s been hard to get internal mindshare to plan the agenda and strategize on the meeting objectives and desired outcome. So, what’s a CAB manager to do?
First: don’t delay. Consider that whether you actually conduct a face-to-face CAB meeting or not, it will become a self-fulfilling prophecy. If you truly believe that customers will come, you will be driven to produce a meaningful agenda and you will energetically promote the event. Your positive drive and enthusiasm for a rich customer event will shine through your outreach efforts. With determination, you can and will be successful in acquiring the customer attendees you desire. However, if you are unsure and hesitate in your outreach efforts, customers will sense a lack of purpose or energy on your company’s part. There’s nothing easier to turn down than a half-hearted, maybe-it’s-on, maybe-it’s-off CAB invitation.
Here are a few tips to help you get motivated.
1) CABs are a sign that you care about customers. Not every company has a CAB, and not every company that does executes them well. So, by investing in your customers now during a downturn, you will be noticed. In fact, use the CAB as a differentiator: while your competitors scale back and limit customer interaction, run a CAB to set yourself apart. By holding a CAB in 2009, you are saying “we value your business and we’re here for the long haul.” When times get better (and they will!), customers will remember how you treated them when times were tough.
2) The content, not the hotel, will determine your success. Everyone understands that glory days at the Ritz may not be appropriate this year; however, it’s the content that customers value most. If you deliver rich content that is relevant to them in a friendly venue that encourages customer networking with their peers, you will have a successful CAB. (The converse is also true: customers will not return even to the Ritz if the CAB is poorly structured and has irrelevant content.)
3) Plan now! Even if you are uncertain. A productive, world-class CAB takes time to prepare. Ideally, you want at least 12 weeks to align your resources, plan the full CAB program, and invite your customers. You can still be successful with only 8 weeks to plan, but you must start now. Planning requires more than your invite list. You need time to align your executives on the central objective of each CAB meeting. You also need time to prepare the agenda, construct your presentation and engagement models, and prioritize the feedback and customer input you want.
Now is the time to be bold and to invest in your customers. This is the best way to truly differentiate yourself from your competitors.
For more on CABs, see Are you getting strategic insight from your best customers? Customer Advisory Boards help you validate and refine your product direction.
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