Product management glosary

Customer Advisory Board

What is Customer Advisory Board?

Product Management Glossary

What is Customer Advisory Board?

A Customer Advisory Board (CAB) is a group of selected customers who provide feedback and insights to a company about their products or services. CABs are usually composed of a small group of customers who are considered to be the most valuable and influential to the company. They are typically invited to participate in meetings, events, and other activities where they can share their opinions and ideas with the company's product management team.

Why are Customer Advisory Boards important?

Customer Advisory Boards are important because they provide a direct line of communication between a company and its customers. By listening to the feedback and insights of their most valuable customers, companies can gain a better understanding of their customers' needs and preferences. This can help companies improve their products or services, develop new products or services, and ultimately increase customer satisfaction and loyalty.

How are Customer Advisory Boards formed?

Customer Advisory Boards are typically formed by invitation only. Companies will identify their most valuable and influential customers and invite them to participate in the CAB. The selection process is usually based on a variety of factors, such as the customer's level of engagement with the company, their purchasing history, and their overall influence in the industry. Once the CAB is formed, the company will typically hold regular meetings and events to engage with the members and gather their feedback and insights.

What are the benefits of having a Customer Advisory Board?

There are several benefits to having a Customer Advisory Board, including:

  • Improved customer satisfaction and loyalty
  • Increased customer retention and repeat business
  • Enhanced product development and innovation
  • Greater understanding of customer needs and preferences
  • Increased brand awareness and reputation