Quarterly Business Reviews (QBRs) are essential for evaluating your company's performance, identifying areas for improvement, and aligning your team's efforts with strategic objectives. To make the most of these reviews, it's important to include key elements.
Below, we have highlighted some key parts of a QBR that you shouldn’t be skipping:
1. Strategic review
Evaluate key performance metrics that are most relevant to your client, such as revenue, sales growth, customer satisfaction or operational efficiency.
Analyse trends and patterns to understand how your business is meeting your clients' needs. Identify areas of strength and areas that need improvement. NPS and CSAT scores are particularly useful for spotting these trends.
Compare against previous quarters & benchmarks to gain insights into your progress and competitiveness.
Identify successes and challenges faced during the quarter to understand what contributed to success and what obstacles need to be addressed.
2. Feedback
Review actions taken on previous feedback and highlight the actions taken. This further supports the value your partnership offers.
Gather input from your clients at all levels, including senior leadership. This brings in valuable insights and different perspectives on the company's performance and processes.
Discuss feedback openly and develop an environment of open communication during the QBR process. Address feedback constructively and create action plans to resolve issues or capitalise on growth opportunities.
3. Goal setting
Review previous goals and assess the progress you have made. Highlight achievements and identify any goals that need to be adjusted or carried forward.
Set new goals that are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) for the upcoming quarter. Ensure that these goals align with the overall company strategy and address identified areas for improvement.
Break goals into smaller, actionable tasks that can be assigned to specific team members. This promotes clarity and accountability in achieving objectives.
Complete actions in a timely manner and actively communicate your progress. Buyers have reported that slow, or non-existent, responses to actions and next steps from QBRs is one of their biggest frustrations.
4. Strategic objectives
Revisit the company's strategic objectives and discuss how the current quarter's performance aligns with these goals. Keep the bigger picture in mind when setting next steps and liaise with wider stakeholders where needed.
Evaluate ongoing strategic initiatives and discuss any adjustments needed to various projects that are required to keep them on track.
Identify new strategic opportunities or emerging challenges for your clients and collect strategies to address them. Encourage innovative thinking and collaboration.
Why are these parts of a QBR so important?
By including these elements in your Quarterly Business Reviews, you can enhance your understanding of your company's performance, leverage feedback for improvement, set actionable goals, and ensure alignment with wider strategic objectives. These reviews provide a valuable opportunity to evaluate, plan, and adjust your business strategies, ultimately driving success and growth.
What next?
At Clientshare, we have built a digital Business Reviews platform, Pulse, that incorporates all of the key essentials so that you can optimise your reviews process. This includes in-built NPS and CSAT scoring, risk analysis dashboards that provide full visibility of your accounts, and an easy-to-use workflow.
Book a demo with our team to learn more about how Clientshare can revolutionise your Business Reviews.
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