“As organizations grow, it is critical to have trusted advisors across their customer base to partner on strategy. This is known as a Customer Advisory Board (CAB).
“Today especially, a company’s customer journey, experience and loyalty can drastically change a company’s success trajectory. Thus, it is highly important to understand your customer behavior (why they chose you and what they want in the future) based on the market.
“Another benefit of having a CAB is balancing a founder’s ideas. For example, the board can assist a founder’s decision-making on whether to build ‘cool’ new features or enhance one’s customer experience. In many organizations, after some success in the market around an innovative product, they may lose focus on what their customer base desires.
“Suddenly, these organizations encounter a decrease in revenue because they didn’t balance the customer experience and the voice of their customers vs. ongoing innovation.”
– Pejman Pourmousa, Sumeru Equity Operating Partner
Learn more about CABs: