Internal quarterly business reviews are essential to any successful sales team. Let’s take a look at the most frequently asked questions so you can give your next quarterly business review a kick in the spreadsheet.
What is an internal Quarterly Business Review?
An internal quarterly business review (QBR) takes the concept of regular customer check-in meetings and applies it to how your own business will advance.
For a sales team, an internal quarterly business review is an opportunity to share your sales team’s progress over the past quarter, and what goals they are committing to for the next quarter.
What do I need to include in a QBR Presentation?
A QBR presentation typically includes a summary of the past quarter’s metrics and learnings. Learnings are key, because goals are often unmet, especially when it comes to sales, but what matters more is that your team now knows what to do differently next quarter.
Another important aspect to include in your QBR presentation is top account information. Key account management is often overlooked in a QBR presentation as focus shifts too much to overall sales metrics. The thing is, this is the perfect time to align on objectives to help your sales team win key accounts.
It’s imperative to identify top accounts and for each account to define goals, identify key stakeholders, and perform a whitespace analysis to maximize sales’ time and up-sell opportunity. Including this information in your QBR presentation gives the team a clear understanding of where time and effort will be focused for the upcoming quarter.
Pro Tip: Quarterly business reviews are a lot of work. Even though QBRs are essential to sales success, they are often neglected because they can be so time-consuming. Do yourself a favor and find a quarterly business review template that is laid out with all the sections you need to include in your presentation. This way, you can simply clone the QBR presentation whenever you need to prepare a new one and continue to leverage the same format. Here is a great quarterly business review template to get you started!
How often should I perform a business review?
Spoiler alert: it’s not quarterly. We so typically refer to these as a quarterly business review because that is the general cadence everyone seems to agree doesn’t feel too overwhelming, yet is consistent enough to keep sales reasonably aligned.
However, these actions should be performed far more frequently. Ideally, on a daily basis. At any given moment, you should be able to ask any member of the sales team what the current quota goal or forecasted pipeline is and get the same answer.
The only way to achieve this is to keep your sales team constantly synchronized with each other. Again, key account management is the best way to align your sales team and keep them closing. Learn more about how key account management can help your sales team take their time back and increase their performance.