Putting together a Board of Advisors is becoming a standard part of the marketing mix.
That’s because this tool helps both your business and the professional objectives of the advisors. With some economists predicting GPD growth of 3 percent in 2013, this might be the time for you to consider this tactic.
Unlike a Board of Directors, the Board of Advisors is an unofficial, informal group. The members come together to provide guidance, access to their own networks, and the power of their own individual branding to your business. In return, you give them exposure on your website and in your other communications, introduce them to others useful to their own enterprises, and make it possibible for them to become insiders in a field they might want to be associated with. Although they usually don’t receive monetary compensation, they tend to enjoy perks from your operations such as entertainment and discounts, an enhanced network, and the branding side effects of your success.
How to put together a Board of Advisors? Here are some guidelines:
Clarify Purpose. Potential members are busy people. So you have to be clear why they are there and what their roles/duties will be.
Clarify Incentives. Those should be detailed. For example, you would state that the industry is growing 21 percent and your particular enterprise is growing 42 percent. Explain what’s in it for them to be part of that high profile niche. Also indicate the networking opportunities since the membership will include other proven professionals, maybe even celebrities. Then spell out the concrete perks such as exposure in your promotions, tickets to sports events, discounts, and possible referrals.
Be Attentive. Figure out what the members want before they even ask. That will keep them happy participants in your business.
Kate Sirignano, founder of Image Marketing Consultants, invites you to a complimentary consultation for your marketing, public relations, partnership, special events, and social media needs kate@imagemarketingconsultants.com, 203-404-4868.