Running a successful business is not as easy as you might have thought when you first started it. There are just so many important factors to consider and regular tasks to complete, and you constantly have to keep improving and growing. Of course, you can always learn more about how to do that, and you should actually never stop learning when it comes to this.
Now, one of the things that you will need to pay attention to when running your business is the process of Quarterly Business Reviews (QBRs). There is no doubt that you have heard of these already, but there is a great chance that you are not quite sure what a QBR actually is, how you can benefit from it, as well as how to prepare for it. Those are certainly some quite significant questions and you absolutely need to get your answers before going any further.
Preparing for a QBR and being successful at it can certainly be difficult if you don’t have all your facts straight. That is why getting the answers to those questions that I have mentioned above is of utmost importance. And, of course, that is also why I have decided to provide you with those answers right away. So, simply put, if you just keep reading, you will get the answers that you are after.
What Is A QBR?
Unsurprisingly, we are going to begin with the most basic question here. After all, you need to understand what a QBR is before you can start gaining more knowledge on it, figuring out the benefits and preparing for it. This is basically common sense, as there is no point in skipping the essential steps and proceeding towards the more complicated things right away. That would just leave you confused, and we don’t want anything like that to happen.
Sure, if you’re already quite familiar with QBRs and you feel that you are ready to proceed to the more complex talk about those, you can visit https://www.liongard.com/blog/crush-your-next-qbr-with-data-driven-insights/ to figure out exactly how you can, well, crush your next QBR. If, however, you still need some more basic knowledge, you should continue reading this.
A QBR is essentially a meeting between your business and your clients that aims at assessing current progress towards the set goals and at discussing possible future outcomes. Customer success managers are the ones who usually prepare and conduct these reviews. Before we get to the part of preparing for them, we first need to check out what the benefits of QBRs really are, and I’m sure you’re interested in hearing about those.
What Are Its Benefits?
The first, and probably the biggest, benefit that you need to know about is the fact that these reviews will help you strengthen your relationships with the customers. This is highly important for every single business, since great relationships are necessary for the success of any company. By connecting to your customers and learning more about how you can help them, you are bound to strengthen those relationships.
Another great benefit that we absolutely need to mention is this. A QBR will help review the existing goals. In different words, everyone will get informed about the progress that is being made towards those goals, and any kinds of adjustments that might be necessary will be suggested during the meeting. Thus, this will help ensure that your company can deliver the promised results, and there’s no doubt that your clients want to know if you’re capable of doing that.
During the QBR, your customer success managers can actually present the value of the products or services that they are providing to your clients. So, if your clients haven’t been quite sure of what it is that you’ve been doing for them, this meeting will remind them of it. In different words, a Quarterly Business Review will help you retain customers by reminding them that you are keeping your promises and that you are providing them with great value products and services.
How To Prepare For A QBR?
The most significant thing in the process of preparing for a QBR is related to data collection. To put it simply, you need to collect all the information about the client, including any important dates, such as deadlines, renewal dates and similar things. Of course, what kind of information you will be collecting will depend on the specific client, but the bottom line is that you need to get prepared like this.
The good news is that there are now quite a lot of great software solutions that can make the preparation process easier for you. Basically, I am talking about programs that can provide you with data driven insights in no time. So, you should perhaps start using one of those, as it will certainly help you crush your next Quarterly Business Review.
