🟣 Issue No. 36: Why You Need an Advisory Board

Without an advisory board, your wellness brand could be risking it all. Here’s how to turn it around.

Author

Kunle Campbell
January 14, 2025

wellness commerce insights

Did you know incorrect addresses cost U.S. businesses a staggering $20 billion annually? 

For eCommerce brands like yours, that’s an average loss of $200K every year—all due to failed deliveries, redelivery fees, and frustrated customers.

Now, imagine an app available on the Shopify app store that helps your customers correct delivery address errors in real-time, saving you thousands in wasted costs. Even better, it works seamlessly across 27 regions, including the U.S., UK, Germany, and Canada.

Want to see it in action? They’re so confident in this app’s performance, they’re offering your first 500 orders completely free, with no commitments.

💜 Your customer support team will thank you for installing it.

Keep reading…

COMMERCE TIPS

Why You Need an Advisory Board

Alright friends, let’s talk about something that can seriously level up your wellness CPG brand: an advisory board. You know how we’re all about aligning with experts who actually know their stuff? That’s what an advisory board is. It’s like having a team of Avengers, but for your brand.

What is an Advisory Board?

An advisory board is basically a dream team of credible experts with their own reputations to protect. These folks bring deep knowledge, solid connections, and accountability to the table. Their main job? To keep your product claims legit and help you make smart, high-impact decisions. Think of them as your brand’s personal compass.

Who Should Be On Your Advisory Board?

Here’s where you get strategic. Picture your brand’s perfect team of advisors:

  • Medical Professionals: Doctors, researchers, or scientists who can back your product’s claims with real credibility.

  • Industry Experts: People who live and breathe wellness, functional medicine, or biohacking—like the functional medicine crowd we’re always geeking out over.

  • Brand Visionaries: Founders who’ve been there, scaled that. Steven Bartlett, for instance, advises Huel, Whoop, and Zoe because he knows exactly how to drive growth and stay authentic.

  • Regulatory Specialists: These are your guardrails. They make sure you’re staying on the right side of FDA, EFSA, or whatever rules matter.

  • Customer Advocates: People who get your audience so well, they can tell you exactly what resonates and what flops.

How Much Will This Cost?

Here’s the deal—costs vary. You could be looking at:

  • $10,000–$50,000 annually for high-profile advisors who show up quarterly.

  • Equity stakes, usually around 0.5–3%, for those willing to bet on your brand.

  • Pro-bono help, especially from advisors who align with your mission and values.

No Budget? Here’s What to Do

No cash? No problem. Start scrappy:

  1. Find Mentors: Build relationships with seasoned folks who are happy to offer informal guidance.

  2. Offer Equity: Even a small slice of the pie can attract great advisors.

  3. Create an Advisory Circle: A casual group of pros you can tap into as needed.

  4. Use Online Tools: Platforms like LinkedIn or Lunchclub are goldmines for finding willing experts.

Types of Advisory Boards

1. Medical Advisory Board

This is essential if you’re making health claims. A team of scientists or doctors can add serious weight to your credibility.

Example:

  • Seed Probiotic has a killer medical advisory board full of microbiome scientists who validate their research and product efficacy. (Seed Advisory Board)

2. Functional & Biohacking Advisory Board

If innovation is your thing, you’ll want advisors who are pushing the envelope in biohacking or wellness tech.

Example:

  • HigherDOSE teamed up with biohackers and functional medicine experts to give their infrared products a seal of approval.

3. Brand Strategy Advisory Board

For scaling your business or entering new markets, CPG veterans and marketers are a must.

Example:

  • Athletic Greens brought in Dr. Andrew Huberman, whose platform and expertise helped them turn a single SKU into a multi-million-dollar subscription brand.

4. Customer-Focused Advisory Board

Want to stay in tune with your audience? Build an advisory board that includes customers or influencers who know your market inside-out.

Example:

  • Loop Earplugs worked with audiologists and lifestyle influencers to refine their product design and messaging. Their insights were a game-changer.

Final Thoughts

An advisory board isn’t just a luxury; it’s a growth hack. Whether you’re tapping into scientists, strategists, or customer advocates, these individuals can bring unmatched value to your brand. Start small, and scale your dream team as you grow.

Need help brainstorming who to approach or how to pitch them? Let’s chat—I’ve got ideas!

Presented by Address Validator

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Did you know incorrect addresses quietly drain $20 billion from U.S. businesses every year? Yep, the average company loses about $216,000 annually because of failed deliveries.

Think about it: unnecessary redelivery fees, extra handling costs, and, worst of all, frustrated customers who might never return.

But here's the good news—there’s a fix.

Address Validator seamlessly integrates with Shopify and BigCommerce to automatically catch and correct address errors before they cost you money.

And to make it a no-brainer, you can validate shipping addresses on your first 500 orders for free with our special offer. No strings attached, no commitments.

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On the Pod 🎧

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