I speak to many groups on Customer Retention Strategies and I am noticing that the concept of establishing a Customer Advisory Board for your business is consistently identified as the number one “takeaway” from the groups that I speak to. In my presentations, I speak about “thinking outside the box”, as it relates to customer retention. The number one “out of the box” strategy I recommend is establishing a Customer Advisory Board for your business.
First, for the sake of definition, what I am talking about here is getting together on a regular basis with a group of your best customers, soliciting their advice on how you could be serving them better.
Sounds simple, right? Well it is. Big companies have been doing it for years, so why not you?
What will this accomplish? Several things, I expect, here are some possibilities:
- You will continue to build on the trust relationship you have with those clients that participate.
- You will get ideas on building your business that you had never dreamed about.
- Your customers will be much more likely to become “raving fans” of your business, leading to more and better referrals.
- You will have a chance to run new ideas (marketing, product, or service) past the participants and gain valuable insight on which ones might work best
- You will have the ability to connect your customer with each other, thereby increasing your value to them (be strategic about the groups you get together!).
How will you execute? Simple, send a formal invitation, followed with a phone call. Tell your client that you appreciate your relationship with them and want to reward them for it. Have your event at a local restaurant (a little more upscale is better), in a private room if possible, at a convenient time for them.
Write out your agenda in advance; start with the question, “Why do you like doing business with me/us?”
I challenge you to try this strategy and look forward to your comments and success stories!
