Customer Advisory Boards: The Value of a Feedback Loop

“I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better. I think that’s the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.” - Elon Musk

January is a time of reflection and hope for the year ahead. A time when many look back and question how to do things differently or better. A time of gym memberships and fad diets. For businesses, January is a time to set forth new plans and thinking and an evolved set of goals.As you develop your new goals and plans, consider how you will measure your success and how you will gain feedback on your progress. What are the quantitative and qualitative measures you will use to ensure that there is a feedback loop in place that Elon Musk and so many successful leaders apply?In our experience, Customer Advisory Boards serve as a very important qualitative method for receiving input and feedback on your strategy and goals. Clients share their experiences with products, services and their views of how well or poorly the company shows up in the marketplace. Perhaps your product teams have ways to determine the success of certain features, but your customers that serve on your Advisory Boards will tell you whether that feature matters at all and what to consider for the future. Customers will demand more than you will of yourself – just as a trainer will push you harder at the gym.As you consider your January goals, take a long look at the stakeholders and ensure you have a way to gather the input and advice from those key people. Take the time to hold yourself and your organization to a higher standard by using that input to improve your processes and strategies. This requires an extra level of focus, but one that will yield impressive long term results.