In any project, whether personal or professional, it is crucial to assess your progress to avoid unexpected failures. This principle extends to business partnerships, where periodic evaluations are essential to ensure client satisfaction and prevent loss of business without awareness. Quarterly Business Reviews (QBRs) play a pivotal role in this process.
What is a QBR, and how does it operate? This QBR guide will delve into these aspects. Subscribe to Revenue Weekly, our email newsletter, for further insights into digital marketing strategies!
A QBR, or Quarterly Business Review, is a meeting held with a client or company leadership every quarter. It involves discussing progress on past and current projects, as well as setting goals for the upcoming quarter. Annual Business Reviews, with a similar structure, occur once a year instead of quarterly.
Not all businesses require QBRs. They are most relevant for companies with long-term client relationships, particularly those providing integral services. For instance, finance management services necessitate regular check-ins.
QBRs also serve as a means to update company leadership on progress. They offer several benefits, including:
– Ensuring alignment with client expectations.
– Evaluating service performance and outcomes.
– Maintaining client satisfaction and engagement.
Your QBR agenda should include:
– Setting S.M.A.R.T goals for the upcoming quarter.
– Reviewing past achievements and areas for improvement.
– Identifying client pain points and addressing them.
– Defining key performance indicators (KPIs) for goal tracking.
To enhance your QBR, ask questions like:
– What were our results for the previous quarter?
– What sales did we make/deals did we close? How?
– What losses did we have? Why?
Examine your sales pipeline for prospects, leads, and deal forecasts to maintain pipeline health. Develop a plan for the upcoming quarter, including forecasts, action plans, and new deal acquisition strategies.
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