B2B logistics enterprises need to constantly stay ahead of the competition and meet the ever-changing needs of their clients. To achieve this, they need to use effective tools and strategies that will enable them to assess their performance, identify areas for improvement, and build stronger relationships with their clients. One of the most essential tools to build great client relationships is to run regular Quarterly Business Reviews (QBRs). At Clientshare, we work with logistics' companies such as CEVA, SEKO and Menzies, to help them to do just that. Our unique Quarterly Business Reviews platform digitises the entire QBR process while also gathering NPS and CSAT data, making it easier than ever to uncover accounts at risk and identify new opportunities for growth.
Working closely with our customers, we have identified 5 key reasons why Quarterly Business Reviews are essential for the B2B logistics sector.
1) Build stronger client relationships
First and foremost, Quarterly Business Reviews provide an opportunity for B2B logistics enterprises to strengthen their relationships with their clients. By regularly engaging with their clients during QBRs, logistics companies can demonstrate their commitment to their clients and their willingness to work collaboratively to achieve mutually beneficial outcomes. These meetings enable logistics companies to build trust, improve communication, and foster a more productive partnership.
2) Assess and improve performance and delivery
Furthermore, Quarterly Business Reviews enable B2B logistics enterprises to assess their performance and identify areas for improvement. By reviewing key performance indicators (KPIs) such as on-time delivery rates, order accuracy, and inventory management, logistics companies can identify trends and patterns in their performance and adjust their operations accordingly. This not only improves the performance of the logistics company, but also benefits the client by improving the overall quality of service.
3) Customise service to add additional value
In addition, Quarterly Business Reviews provide an opportunity for B2B logistics enterprises to gain a deeper understanding of their clients’ business needs and objectives. By discussing the clients’ goals and challenges, logistics companies can tailor their services to meet specific needs and provide more value to their clients. This level of customisation and personalisation is crucial in today’s competitive business environment, where clients expect more than just basic service.
4) Stand out and stay ahead of the competition
Moreover, Quarterly Business Reviews enable B2B logistics enterprises to stay ahead of the competition by identifying emerging trends and opportunities in the market. By engaging in strategic discussions with their clients, logistics companies can gain insights into new market developments, emerging technologies, and changing client preferences. This enables them to adjust their operations and strategies accordingly, ensuring that they remain competitive and relevant in a rapidly changing business environment.
5) Demonstrate value to the customer
Finally, Quarterly Business Reviews enable B2B logistics enterprises to demonstrate their value to their clients. By sharing performance data, identifying areas for improvement, and discussing strategic plans, logistics companies can show their clients that they are committed to delivering high-quality services and continually improving their operations. This helps to build trust and loyalty, which is crucial for long-term business success.
Today 30% of accounts churn for reasons that are within your control. Quarterly Business Reviews are an effective tool for B2B logistics enterprises to stop this from happening. By providing a framework for regular engagement with clients, assessing performance, gaining a deeper understanding of client needs, identifying emerging trends and opportunities, and demonstrating value to clients, QBRs enable logistics companies to build stronger relationships with their clients and stay ahead of the competition. As such, QBRs should be a core part of any logistics company’s business strategy.
As reported by Gartner, using QBRs and customer facing tools is the future for rapid growth and a cornerstone for building good client relationships. Clientshare’s unique Quarterly Business Reviews platform is already used by 1 in 3 FTSE100 companies and helps many B2B enterprises in the logistics sector to uncover accounts at risk of churn and identify new growth opportunities. Our platform digitises the business reviews process, measures CSAT and NPS easily across all accounts and provides Risk Analysis Dashboards to help senior leaders make decisions based on data-driven insights.
Want to hear more about how we can help your business build better client relationships and increase retention and growth with data-driven insights? Have a look at our product introduction video below or book a demo with our team today to explore our solutions.
Still have questions on how we can help you improve your Quarterly Business Reviews (QBRs)? Get in touch by booking a demo below.