Components of a QBR

Annual reviews describe the current processes undergone to operate a business and determine opportunities for improvement and goals setting. Depending on the type of review you’re undertaking, different aspects should be presented at the review meeting.

For example, customer service oriented business models will need to include investigations into employee metrics, such as satisfaction ratings. Analyze goals and highlight successes to inspire suggestions for the next wave of goals.

Wins and losses in the previous quarter need review, as these will be the cornerstone of your plans for next quarter’s success. Then, you’ll need to utilize your review team to develop a plan for increasing metrics, such as client retention and overall sales, for upcoming periods.

It might be necessary to adjust inventory needs or focus on marketing efforts. Team leads should meet to determine what changes are needed for their projects to thrive.

What is a quarterly business review?

A QBR review helps business owners understand the strengths and weaknesses of the business, as well as how to ensure growth in upcoming quarters. A thorough investigation of the finer details of a business’s operations helps determine areas needing improvement. Developing quarterly reviews can be simplified using quarterly business review templates.

Goals may be based on metrics, as well as the larger vision of your client’s business. This is a cooperative process, with your suggestions and the client’s ideas forming a holistic plan for success.

Meeting and presentation of the QBR

There are several steps you can take to ensure your QBR meeting is a success:

1. Invite executive team leaders and client-side stakeholders. People who make high-level decisions in their departments should be included in this meeting.
2. Review your client’s goals, which were most likely created during the onboarding period. Compare their goals to your accomplishments, utilizing metrics that make sense, such as active users and product adoption rate increases.
3. Key Performance Indicators (KPIs) should be examined, emphasizing the metrics most valuable for this meeting. A good strategy is to use only a few KPIs. Choose wisely from the KPIs available so you don’t bore your audience and distract them from the most important factors.
4. Highlight achievements to gain your client’s attention, and explain the processes you used to reach them. Engage your client to brainstorm ways to achieve your goals.
5. Investigate challenges, allowing clients to step in as problem-solvers and share their unique perspectives on the situation. Any failure to meet goals can be addressed at this stage of the meeting and act as an invitation for the client to provide suggestions that may help you meet that goal.
6. Discuss opportunities for growthwhen addressing unmet goals.
7. Outline plans for the future and how goals will be met in the next quarter. The client can help you adjust this plan as they see fit, and your combined visions will guide the next period.
8. Detail the value of your services to your client, using projected metrics like improving customer retention rates. Use the KPIs that matter most to your client.
9. Offer space to provide feedback and ask questions, making sure to allow a sufficient amount of time to do so. For example, a two-hour meeting with a 30-minute Q&A at the end should be sufficient.

Three types of quarterly reviews

Business reviews will be needed at different times, such as quarterly or when specific goals have been accomplished. It’s important to remember your audience when presenting the information. For example, customers may be more interested in financial specs than an internal review focusing on employee performance.

Onboarding Business Review (OBR) for new clients

Maintaining a high level of client satisfaction with OBRs and ongoing reviews helps ensure client contentment. Create a practical blueprint to outline your onboarding processes for new clients, and perform QBRs to ensure the practices are helping meet your sales goals.

Companies commonly use OBRs when the onboarding process is lengthy, such as a month or longer. The executive team should be present at the QBR meeting with new clients, including:

• Executives
• Shareholders
• Sponsors
• Customer service managers from both your team and the clients’ team

Careful planning is needed when partnering with a new client, as well as space to discuss and develop ideas. The OBR meeting is a valuable opportunity to exchange feedback, including the quality of the onboarding process and customer expectations. This is also where goals are set and future meetings are scheduled.

Pre- and post-renewal business review

A business renewal can be challenging as the environment shifts and new competition emerges. A pre-renewal or post-renewal review can inspire confidence in your business partners and investors, providing them with a detailed view of the operations that matter to them.

Pre-renewal review process

Embarking on a new partnership requires a large amount of faith for both parties alongside diligent research. Present your potential client with a summation of the practices that have led to your success in the market.

In a pre-renewal review, you want to exchange dynamic ideas that will lead to setting goals to propel your partner into the next stage of their business. Explain to them how your continued partnership will benefit their company by presenting relevant information in this meeting, such as:

• Sales figures
• Growth charts
• Similar partnerships and their positive outcomes
• An outline of last period goals and how they were met

Make sure to use this time to determine how long you’ll need to undergo operations before the next review and then schedule the post-renewal review meeting.

Post-renewal review process

Once a project has been undertaken or a new client onboarded, it’s important to perform follow-up actions. A post-renewal review is your chance to discover any problems in the process and nip them in the bud, as well as a check-in with clients and team leads to ensure the process has been and continues to run smoothly. In these review meetings, be sure to feature current achievements and ask for positive and negative feedback.

Customer lifecycle stage review

When the goal is to improve sales through improving customer relations, a customer lifecycle stage review is an appropriate tool to help set and reach sales targets. There are many aspects of the customer lifecycle that need addressing in the review:

• Awareness of the product or service and what relevant social outreach is being utilized to increase the brand’s market presence
• Acquisition of customers through the use of promotions such as trial offers and free samples given out at events or through direct mail is reviewed
• How has value increased for customers after you’ve acquired them, such as by keeping them loyal with programs that incentivize them to invite their friends and to keep purchasing from your brand
• Customer retention actions that monitor the percentage of customers that remain after a period of time and the actions taken to maintain their patronage are reviewed
• Inactive customer recovery actions are investigated to determine opportunities for improvement

Depending on your industry, you’ll use different tools to monitor these areas. Customer Relationship Management (CRM) software is available to help businesses keep track of sales and contacts and to share the information with partners as needed.

Retail businesses may find inactive customers by maintaining a customer account system, usually tracked by phone or email. This can allow rewards for customers to earn discounts on future purchases. In addition, companies can track when customers visit and when they need a reminder to stop by.

Quarterly business reviews (QBR) FAQs

Who usually conducts a QBR?

The process can be undertaken internally by sales or account managers or by sourcing an outside company to provide the service.

Are QBRs conducted in-office, or can we teleconference?

It’s always best to shake hands with your team and partners when possible. Face-to-face meetings should occur at least yearly. However, a videoconference, or virtual meeting, is a viable alternative if circumstances prevent an in-office meeting. Phone calls are not ideal. A visual element to adequately display your presentation and connect with your client is recommended.

Does every client require a QBR?

While it is nice to check in on clients as much as possible, not everyone will be high-level enough to require quarterly meetings. Some clients may need only a yearly meeting or may be satisfied with phone meetings instead of lengthy presentations.