A Brand Advisory Board is a opt-in group of stakeholders inside and outside of a business that have agreed to provide ongoing feedback to your business, startup or brand. While they aren’t going to be helping with your financial forecasts or tax strategy, they are there to help you build and strengthen your products, marketing activities and brand performance.
Brand Advisory Boards can help companies save money by providing early stage feedback on advertising and product ideas which has been proven to boost profit margins and marketing effectiveness. Setting up a brand advisory board also means you can avoid needing to conduct expensive and timely market research projects everytime you need to validate a new idea or product innovation, and will also help you identify potential areas of weakness before it’s too late.
Traditionally, “advisor groups” have been split up and managed by different members of an organization:
Advisors – On one hand, “advisory boards” typically consisted of “business advisors” who could help senior members of a company navigate complex finance, operational and strategic decisions. They are commonly used by technology startups and have become more popular among small business as well.
Customers – On the other side of the spectrum, the marketing or insight teams would set up “insight communities” of customers willing to participate in an online feedback panel in exchange for discounts, early access to upcoming products and a chance to interact with their favorite brands.
Stakeholders – In the largest of organizations, an entire department would be dedicated to getting feedback from everyone in the organization’s supply chain (resellers, affiliates, distributors, enterprise customers). It most small-to-medium sized businesses, these groups are not traditionally surveyed or engaged in providing advice.
Employees – Lastly, human resources would be responsible for gathering feedback from employees, mostly on culture related issues and job satisfaction.
We think that there is a great opportunity to bring these groups (advisors, customers and employees) into a singular Brand Advisory Group which can empower any brand (from small businesses to the Fortune 500) with constructive and diverse feedback.
We’ve spent a long time thinking about how to easily allow our users to establish a Brand Advisory Board using our platform. With BigTeam you can easily create distinct groups of stakeholders including customers, partners and employees to engage with and survey on an ongoing basis. The platform is great for small business and large brands alike and is easy to get started: