TSN #27 - Customer Advisory Board as a Service

In partnership with

Hey! 👋

This week's idea came from noticing how many mid-market companies struggle to get meaningful customer input. While big companies have dedicated teams for this, smaller ones often miss out on this goldmine of insights.

Enjoy!

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🎬 The Pitch

Imagine building a business that helps companies tap into their most valuable asset - their customers' minds. That's exactly what Customer Advisory Board (CAB) as a Service does. Mid-market companies desperately need structured customer feedback but lack the expertise and resources to run effective advisory boards.

Here's the concept: You handle everything from selecting board members to facilitating meetings and delivering actionable insights. Companies get the strategic guidance they need, customers feel valued and involved, and you build a recurring revenue stream. With the right positioning, you could charge €15-30k per quarter for a fully managed CAB program.

The best part? This business combines high-value consulting with predictable recurring revenue, all while helping companies make better decisions. No tech required, just solid organizational and facilitation skills.

📊 Market Insights

The opportunity is significant:

• 72% of B2B companies want more customer feedback

• CAB members spend 9% more than regular customers

• Only 15% of mid-market companies run formal advisory programs

• Average CAB program generates 3-5 major strategic insights per quarter Source: Customer Advisory Board Research 2024

💡 The Concept

Core Service Package:

• Board member selection and recruitment

• Meeting planning and facilitation

• Insight documentation and analysis

• Strategic recommendations

• Ongoing board management

Service Levels:

1. Essential CAB:

   • Quarterly meetings

   • 8-12 board members

   • Basic documentation

   • Implementation guidance

2. Premium CAB:

   • Bi-monthly meetings

   • 12-15 board members

   • Deep insight analysis

   • Strategic planning support

   • Individual member interviews

3. Enterprise CAB:

   • Multiple boards by segment

   • Custom meeting frequency

   • Executive briefings

   • Market intelligence reports

💰 Revenue Streams

• Primary: Quarterly retainers (€15-30k per quarter)

• Secondary: Setup fees (€5-10k one-time)

• Additional: Strategy workshops (€5k per session)

• Board member recruitment (€1k per placed member)

🛠️ Bootstrappability Score: 8/10

Start with expertise and basic tools. Main investment is in methodology development and materials.

💻 Non-Tech Factor: 10/10

While you'll use basic tools for organization, this is primarily a people business. Focus on facilitation and relationship building.

🚀 Getting Started

1. Develop Your Methodology:

   • Create board selection criteria

   • Design meeting frameworks

   • Build feedback collection systems

   • Develop insight analysis templates

   • Create reporting formats

2. Define Service Packages:

   • Structure clear offerings

   • Set pricing tiers

   • Create deliverable templates

   • Develop onboarding process

3. First Clients:

   • Target growing B2B companies

   • Focus on €5-50M revenue range

   • Offer pilot program pricing

   • Start with your network

4. Execution Process:

   • Initial company assessment

   • Board member identification

   • Meeting preparation

   • Facilitation

   • Follow-up and documentation

   • Ongoing management

💪 Pros & 😓 Cons

• Pro: High-value recurring revenue

• Pro: Network effect as you grow

• Con: Requires strong facilitation skills

• Con: Complex stakeholder management

🔍 Steal Somebody’s Homework & Dive Deeper

Want to explore this idea further? Check out:

• Ignite Advisory Group - Setting up & running customer advisory boards

• Advisory Board Architects - Board management

• Congruity Advisory - Customer feedback programs

Have experience with customer advisory boards? Let me know!

- Slavo