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A Strategic Instrument for Corporate Development.
CUSTOMER ADVISORY BOARD
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Methodology
Collaborative study of Musiol Munzinger Sasserath, Postbank and F.A.Z.-Institut.
30 interviews with executives of companies with and without Customer Advisory Board, interviews with members of Customer Advisory Board (March to May 2011).
Representative CATI-survey of the German-speaking population older than18 years (n = 1002) conducted by Forsa in April 2011.
Survey with „non-applicants“ to the Postbank Customer Advisory Board (n = 100) conducted by TNS Infratest in March and April 2011 enriched with data analysis of written applications for the Customer Advisory Board (n=1.833) and phone interviews (n=276).
Plus additional articles and Best Practice.
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1. The Benefit – Transformation: Customer Advisory Boards can contribute to the transformation of a company by increasing customer centricity and improving products and services.
2. The Opportunity – Reputation: As the institution is still in its infancy, establishing a Customer Advisory Board can help to improve a company’s reputation.
3. The Relevance – Customer Advisory Boards make sense: The majority of the population is convinced that Customer Advisory Boards make sense.
4. The People – Motivated, informed and positive: Candidates for Customer Advisory Boards are generally well informed and have a positive attitude towards the company.
5. The Basics – Building blocs and requirements.
Overview
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1. The Benefit – Transformation.
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Different focus – depending on type of company – but common overall objective: Transformation.
Customer Centricity
Relationship
Change
Co-operation
Service Companies
Tangible Companies
(mobile) Ex-Monopolists
Specialists
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The transformation can include internal an external aspects.
Optimization, Innovation & Co-Creation
Advocacy
Issues Management & Agenda Setting Understanding Customers
Reputation
Transformation: Optimizing the
organization, products and services, corporate
development
Reputation: Change of perception by establishing CAB as a platform for reputation and a direct link to management
Cultural Change
internal external
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The Customer Advisory Board as part of general as well as specific transformation processes.
“The Customer Advisory Board is part of our Change-Management Program.”
“We would like to develop a new business segment with the help of our Customer Advisory Board.”
“Without our customers’ advice we wouldn’t be able to enhance our service.”
Source: Interviews conducted for "Customer Advisory Board – A strategic instrument for corporate development"
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The Customer Advisory Board as a platform for dialogue with “real” customers.
Source: Interviews conducted for "Customer Advisory Board – A strategic instrument for corporate development"
“They’re not a paid panel with random participants, but real customer with self-interests.”
“Board members are personalities, not just ‘study objects’ as in market research. Encounters take place on the same level.“
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Source: Interviews conducted for "Customer Advisory Board – A strategic instrument for corporate development"
The Customer Advisory Board as a catalyst for cultural change.
“We think more customer-centric since we have a Customer Advisory Board.”
“The Customer Advisory Board is good for our corporate culture.”
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2. The Opportunity – Reputation.
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The signal effect has an impact.
„Our Customer Advisory Board-initiative shows: We‘re an open company and a pioneer in our industry.“
Source: Interviews conducted for "Customer Advisory Board – A strategic instrument for corporate development"
„The Customer Advisory Board does not result in higher sales, but it’s a signal.“
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However, the Customer Advisory Board should not be overly marketed.
„Sensibility is crucial.“
Source: Interviews conducted for "Customer Advisory Board – A strategic instrument for corporate development"
„The Customer Advisory Board is not a PR-instrument. This is why it only has a very basic website.“
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3. The Relevance – Customer Advisory Boards make sense.
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Customer Advisory Boards are not yet widely known.
„Never heard of it.“
„Have heard of the term, but do not exactly know what it means.“
4%
„Know exactly, what it is.“
Source: "Customer Advisory Board – A strategic instrument for corporate development”, Musiol Munzinger Sasserath, F.A.Z-Institut and Postbank, May 2011; representative CATI-survey, n = 1.002, forsa; Question: „Do you know exactly, what a Customer Advisory Board is, have you heard the term, but do not exactly know what it means, or have you never heard of it?“ 1% don’t know/ no answer
75% 20%
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But if the concept is explained …
„A Customer Advisory Board consists of several customers of a company, who can make suggestions regarding the products and services of the company. In return for their efforts, they receive a small compensation. However, it is up to the company to decide whether or not it will consider and implement the suggestions of the Board.“
Source: "Customer Advisory Board – A strategic instrument for corporate development”, Musiol Munzinger Sasserath, F.A.Z-Institut and Postbank, May 2011; representative CATI-survey, n = 1.002, forsa
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… the majority is convinced that Customer Advisory Boards make sense.
„they make a lot of sense“ and „they make sense“
„they don’t make a lot of sense“
17%
Source: "Customer Advisory Board – A strategic instrument for corporate development”, Musiol Munzinger Sasserath, F.A.Z-Institut and Postbank, May 2011; representative CATI-survey, n = 1.002, forsa; Question: „Do Customer Advisory Boards makes sense in your opinion“ 3% don’t know / no answer
58% 23%
„they make no sense at all“
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4. The People – Motivated, informed and positive.
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Who wants to be part of a Customer Advisory Board?
Who doesn‘t? Any why not?
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Source: "Customer Advisory Board – A strategic instrument for corporate development”, Musiol Munzinger Sasserath, F.A.Z-Institut and Postbank, May 2011; Survey with „Non-Applicants“ to the Postbank Customer Advisory Board (n = 100) in March and April 2011 by TNS Infratest enrichedwith data analysis of written applications for the Customer Advisory Board (n=1.833) and phone interviews (n=276)
Satisfied customers would like to get involved in a Customer Advisory Board.
69%
29%
3%
49%
49%
3%
FOR FURTHER DETAILS PLEASE CONTACT US
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Source: "Customer Advisory Board – A strategic instrument for corporate development”, Musiol Munzinger Sasserath, F.A.Z-Institut and Postbank, May 2011; Survey with „Non-Applicants“ to the Postbank Customer Advisory Board (n = 100) in March and April 2011 by TNS Infratest enrichedwith data analysis of written applications for the Customer Advisory Board (n=1.833) and phone interviews (n=276)
Customers with a positive attitude towards the company.
73%
23%
4%
34%
14%
52% FOR FURTHER DETAILS PLEASE CONTACT US
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„little influence of CAB“
What are the reasons against participating in a Customer Advisory Board? Mainly personal issues.
9% „age“
36% „no time“
18% „no interest“
4%
„health“
8%
8% 6%
„family“
3%
„unwilling to participate“
„job“
„lack of personal competence“
2%
Source: "Customer Advisory Board – A strategic instrument for corporate development”, Musiol Munzinger Sasserath, F.A.Z-Institut and Postbank, May 2011; Survey with „Non-Applicants“ to the Postbank Customer Advisory Board (n = 100) in March and April 2011 by TNS Infratest
FOR FURTHER DETAILS PLEASE CONTACT US
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5. The Basics – Building blocs and requirements.
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… contact us:
Musiol Munzinger Sasserath Gesellschaft für umsetzungsorientierte Markenberatung und Markenentwicklung mbH Rosenstraße 18 D-10178 Berlin
T +49 30.7790777-70 F +49 30.7790777-99
… order the full report:
Nina Reicke Partner T +49 30.7790777-82 [email protected]
facebook.com/MusiolMunzingerSasserath faz-institut.de
For further information on building blocks and requirements for a Customer Advisory Board …
(only available in German)
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„Is there anything better for engaging customers in a dialogue than a Board?“
Source: Interviews conducted for "Customer Advisory Board – A strategic instrument for corporate development"
„I would like to be part of it for a long time.“
Gesellschaft für umsetzungsorientierte Markenberatung und Markenentwicklung mbH
Rosenstraße 18 D-10178 Berlin
T +49 30.7790777-70 F +49 30.7790777-99
[email protected] www.musiolmunzingersasserath.com
Jede Verwertung der von Musiol Munzinger Sasserath Gesellschaft für umsetzungsorientierte Markenberatung und Markenentwicklung mbH erbrachten Präsentationsleistungen ist ohne vorherige schriftliche Zustimmung des Unternehmens unzulässig. Dies gilt auch und gerade für Leistungen von Musiol Munzinger Sasserath, die nicht Gegenstand besonderer gesetzlicher Rechte, insbesondere des Urheberrechts sind.
