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The Power of Client Advisory Boards:
Listening and Engaging
April 2013
Agenda
2
About Client Advisory Boards
Key Elements for a Successful Board
When an Advisory Board can Help
Case: Launching ...
3
Customer Company
Listening
•Market opportunity
•Product innovation
•Internal change
•Customer loyalty
and retention
Cust...
What is a Client Advisory Board?
• Client Advisory Boards are powerful forums that bring together key
clients and stakehol...
What a Client Advisory Board is…..and is Not
5
A Client Advisory
Board is
A Client Advisory
Board is NOT
– A lead generati...
Benefits and Impact
Properly executed, Advisory Boards create mutual value for the
clients and the company-host:
6
For cli...
Ensuring Advisory Board Success:
Key Challenges Along the Way
7
Align the
executive
team
Get the
right
members
Provide
eno...
When an Advisory Board can Help
Some instances when creating a Board can bring great benefits:
• Your strategy is changing...
Case: Client Advisory Board Launch
9
About the Client
• A $50-100M digital marketing agency operating globally
• Experiencing rapid growth
• Expanding from its...
The Challenge and the Opportunity
The challenge to drive growth and change
• The shift to a full-service digital performan...
Launching the Customer Advisory Board
12
Align/Recruit
Agenda Co-
Creation
First Meeting
Follow Up
and Build
Dec-March
• I...
Clients Affirm the Approach
• “I really do appreciate that this agency is doing this and being
invited to participate. I a...
Value and Impact to Date
• Significant impact on strategy evolution and validation of
strategic direction
• Shift in clien...
Discoveries/Lessons Learned
• Get executive buy-in and alignment before you start
• Chemistry is critical
• Invest in agen...
www.farlandgroup.com
16
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Power of Client Advisory Boards_Farland_Group

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Client Advisory Boards are powerful forums for B2B companies to bring together key clients and stakeholders to advise on strategy, product direction and innovation concepts. Learn how to get value from listening to and collaborating with your executive clients

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Power of Client Advisory Boards_Farland_Group

  1. 1. The Power of Client Advisory Boards: Listening and Engaging April 2013
  2. 2. Agenda 2 About Client Advisory Boards Key Elements for a Successful Board When an Advisory Board can Help Case: Launching a Client Advisory Board
  3. 3. 3 Customer Company Listening •Market opportunity •Product innovation •Internal change •Customer loyalty and retention Customer-focused approach •Satisfaction •Tailored offerings •New ideas and insights •Improved experience Impact and Value through Listening Value
  4. 4. What is a Client Advisory Board? • Client Advisory Boards are powerful forums that bring together key clients and stakeholders multiple times a year in to advise on strategy, product direction and innovation concepts. • Done well, customers become extremely vested in the Boards and the evolution of the business they are advising. This results in: o Deeper customer relationships o New product and service line concepts o Strategy validation o Organizational momentum 4 Visit here for more background on Client Advisory Boards
  5. 5. What a Client Advisory Board is…..and is Not 5 A Client Advisory Board is A Client Advisory Board is NOT – A lead generation tool – An event – A focus group – A research program – Focused on product input and testing – Targeted to product users, execution teams – A listening tool – An ongoing dialog – Focused on business strategy, growth, transformat ion – Targeted to top tier strategic executive clients
  6. 6. Benefits and Impact Properly executed, Advisory Boards create mutual value for the clients and the company-host: 6 For clients • Peer connections, vetted learning environment • New ideas, access to early thinking • Opportunity to influence key partners/vendors • More targeted, useful and valuable client experience For the company • Deeper more aligned client relationships • Client loyalty and retention • Revenue growth, increased share of wallet • Faster cycles for product and service development • Market insights and new ideas More on measuring impact
  7. 7. Ensuring Advisory Board Success: Key Challenges Along the Way 7 Align the executive team Get the right members Provide enough value Capture strategic insight Turn insight into action Measure Council impact For more tips about success, see Customer Advisory Board Top 5 Tricks
  8. 8. When an Advisory Board can Help Some instances when creating a Board can bring great benefits: • Your strategy is changing and you need customers to buy differently from you • You are launching new products or services and you need traction • You have lost a number of large or strategic client accounts and you need to regroup and chart a new course • You’ve acquired or merged with another company and you need to ensure you retain and grow your clients under the new regime • You have a brand new executive team that wants to change the status quo 8 For more detail on these ideas, see Five Signs it is a Good Time for a Client Advisory Board
  9. 9. Case: Client Advisory Board Launch 9
  10. 10. About the Client • A $50-100M digital marketing agency operating globally • Experiencing rapid growth • Expanding from its SEO roots to a full-service digital performance agency • A strong set of tenured clients from exemplary brands 10
  11. 11. The Challenge and the Opportunity The challenge to drive growth and change • The shift to a full-service digital performance agency is critical for longer term competitive advantage • But requires long-time customers to view them differently • And for new customers to understand their value proposition The opportunity to differentiate • The agency environment is evolving rapidly, with lots of consolidation and upheaval • Few agencies embrace customer-centric programs like CABs 11
  12. 12. Launching the Customer Advisory Board 12 Align/Recruit Agenda Co- Creation First Meeting Follow Up and Build Dec-March • Internal alignment • Member recruitment Feb-April • Member input and testing • Internal content creation May 2012 May to present • Member follow up • Ongoing co-creation • Internal action on strategy develop • Two additional mtgs • Oct webinar • Feb 2013 mtg
  13. 13. Clients Affirm the Approach • “I really do appreciate that this agency is doing this and being invited to participate. I am not sure if many/any of our other agencies are opening up to their clients in this kind of forum and I think it speaks to their client focus.” • “My primary goal is to help the agency grow. I was one of the catalysts for this idea in that I encouraged them to create a client advisory council. I also value being able to network and learn from peers, and get new ideas to help drive change in my own organization.” • ”This is an important forum to learn about the agency’s strategy. I am willing to bet that I don’t have the full view of the agency’s services and I would like to understand all about what they can do.” 13
  14. 14. Value and Impact to Date • Significant impact on strategy evolution and validation of strategic direction • Shift in clients’ perception of the services offered beyond the agency’s traditional niche strength • Strengthening of key relationships 14 Challenges Looking Forward • Continuing to drive internal change and act on the advice • Evolving the Board topics to ensure “give-back” that is valuable across all of the members and their situations • Balancing a member recruiting pipeline with members’ interest in a small group
  15. 15. Discoveries/Lessons Learned • Get executive buy-in and alignment before you start • Chemistry is critical • Invest in agenda co-creation and collaboration • Time to market for new offerings can be greatly reduced • Stay true to the “listen and learn” focus – no sales! • Follow through on actions and next steps – and always report back 15
  16. 16. www.farlandgroup.com 16

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