Quarterly Business Reviews (QBRs) are one of the most important times in your client relationships. They are the best time to reflect on past actions, look ahead to future opportunities and build upon your relationship.
In this article, we will go through what a Quarterly Business Review (QBR) is for, what you should include and why they are so important to the longevity of a client relationship, contract growth and client retention.
What is a Quarterly Business Review for?
QBRs, or Quarterly Business Reviews, are an opportunity to sit down with your clients each quarter to discuss either a short-term project or an ongoing client relationship. You can check in with KPI progress, set intentions for the next quarter and identify new opportunities.
Buyers within the service industry know what they want from your Business Reviews. In fact, 84% have confirmed their expectations have increased over the past two years, but 74% have said suppliers re missing out on key opportunities with them by not making the most of their reviews. A QBR is a suppliers chance to showcase the value and innovation they bring to the partnership, and 99% of buyers are more likely to renew a contract with a supplier who takes this opportunity.
What is involved in a QBR?
A Quarterly Business Review, just like any meeting, should have a clear agenda. Here are four must-haves for your QBR agenda:
Performance review – going through your KPIs.
Feedback – an opportunity to discuss what is going well and where there may need to be more of a focus.
Goal setting - what is next for this project? What do you and your client hope to achieve in the coming quarter?
Strategic objectives – discussing opportunities for the future, what other ways could your business support the work of your client?
Why are QBRs so important?
We say this time and again, your Quarterly Business Reviews are one of the most important moments to demonstrate the value and innovation you offer your clients, discuss further opportunities with your clients, and deepen professional relationships. Just because you’re a B2B enterprise, this doesn’t mean you’re selling to a whole organisation. There is a person at the other end of your service and getting to know them is important if both parties want to be successful.
Final thoughts
This is why we at Clientshare have developed Pulse, the world's leading digital Business Reviews platform to help business create and deliver best-in-class reviews, then measure responses and act on the feedback they receive. We give senior leaders insights into client sentiment data, giving them the tools to improve client retention and revenue growth.
What’s next?
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