It is easy to enjoy strategy-level discussions with your Customer Advisory Board (CAB) members when times are good. The investment in your CAB program is not questioned. However, your CAB program is much more urgent and important when times are uncertain. Like right now.
As we head into 2023, it seems inevitable that another recession is at hand. Many companies are already trimming staff and budget – including suspending their CAB program. Having worked with many CABs through the downturns of 2002, 2008, and 2020, I can report that those companies who maintained contact with CAB members actually strengthened customer relationships and grew their businesses faster when the good times returned. The lesson: staying close to your best customers is critical to your business’ future success.
Here are 3 ways to keep your CAB program alive when your budget gets cut.
For more information . . .
With a specialty in CAB & Partner Advisory Board programs, Mike Gospe is a professional facilitator with 20+ years of advisory board experience. He’s helped some of today’s most innovative companies deliver more than 200 world-class meetings. He leads KickStart Alliance‘s Advisory Board practice. Check out more of his best practices articles and videos on his CAB Resource Center.