Keeping Value at the Center of your QBR's
Check out this weeks article from Emily Nelsen , picking up where she left off last time while discussing driving growth through customer success!
In recent articles, I’ve outlined the integral role of Customer Success (CS) throughout the sales cycle and discussed strategies in setting the foundation for lasting partnerships.? Now let’s dive into the execution of customer success with a focus on Quarterly Business Reviews (QBRs).
While QBRs might sound like a buzzword in CS, their proper execution is critical for both retention and growth. I use the term "quarterly" for cadence, but it's essential to tailor it to your business needs. In extensive strategic programs, a quarterly frequency might not align with growth patterns. However, at a minimum business reviews should be conducted at least twice a year.
Who attends QBRs is really important, and oftentimes is the first thing companies get wrong. Prioritize executive-level engagement to elevate conversations strategically, ensuring you are showcasing value to your executive buyer. A QBR without senior stakeholders is a program review, which are also critical - but don’t usually contain the key conversations around business achievements and opportunities for growth. Conversely, ensure that each participant from your organization has a defined role, bringing your senior stakeholders too.
Now, let's outline the must-have outcomes a QBR should achieve. At a minimum, it should cover:
Present an overview emphasizing the impact of your product or service beyond a checklist of accomplishments. Since you and the sales team have been collaborating since late in the sales cycle, you should have a clear recipe for how to tie your offerings to tangible business value. Support your claims with data and ROI metrics.
Encourage an open dialogue during QBRs to gather feedback directly from the customer. Understand their perspective on the partnership, challenges faced, and areas for improvement.
Provide valuable suggestions to enhance the current program, or introduce additional services aligned with their business goals. Ensure upsell initiatives address real business pain, as this is not the time to throw ideas at a wall to see what sticks.? It is the time to grow your partnership if your organization has delivered the right value leading up to the QBR. Engage in meaningful dialogue and ask questions to stay up to speed on evolving organizational needs.
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Discuss your mutual vision for the future, covering both tactical and strategic workstreams. This is the right time to validate alignment and prioritize efforts. Redirect requests that deviate from agreed-upon goals, emphasizing the importance of strategic alignment.
While there are numerous topics that can enrich your QBR, it's essential to include only what is relevant to your customer and the service you are providing. A few QBR enhancements can include:
Success Stories and Use Cases:??
Share success stories and relevant use cases that highlight how your product or service has positively impacted similar organizations. Real-world examples can reinforce your value proposition and build confidence in the partnership.
Proactive Issue Resolution:
Acknowledge any challenges or issues that have arisen since the last QBR and demonstrate proactive steps taken for resolution. Transparency about problem-solving efforts reinforces trust and shows your commitment to your customer’s success.
Education and Showcasing:
Share new products or enhancements during the QBR, either in line with key recommendations or as standalone segments. Ensure what you present is relevant to their business. This not only adds value to the customer but also ensures that they are maximizing the benefits of your product or service.
In the realm of customer success, fostering a strategic partnership is a continuous effort.? After concluding a QBR, it’s important to see if you achieved any measurable goals set forth prior to the review.? For example, did your champions verbally confirm they were pleased with the value you are providing?? Was there agreement to co-market the partnership?? Did a new line of business get uncovered as a future opportunity?? Identifying specific objectives leading into the QBR will help your team determine its success afterwards.
Lastly, set targets for your next QBR.? Remember, your return in 90 days to evaluate progress is an opportunity to showcase achievements. By following these QBR principles, you not only enhance the value of your partnership, but also set the stage for ongoing success.