The most meaningful client relationships aren't always built during the sale, but after. Quarterly Business Reviews, QBRs for short, are meetings with clients that that have the potential to transform a vendor relationship into a strategic partnership where both sides analyze data, examine insight, and look to past experiences to uncover new opportunities.
In the latest episode of The Ultimate Sales Conversion series, TTEC’s own Jeff Farr, VP of Growth Services, discussed how QBRs can benefit the client and sales person relationship. Here are 3 quick takeaways from Farr on how to discover meaningful insights.
Uncover hidden sales and customer service opportunities
Every business strategy can use a fresh set of eyes. In the first initial months of a QBR, a partnership can analyze various points in an operation such as connect rates, industry trends, personas and more to learn about their environment and the go to market that can be deployed.
We’ve learned through experience that a client’s perspective can be completely changed by uncovering areas of inefficiencies. For example, we discovered that prospects in a shipping industry did not answer their phone between set hours because they were loading deliveries in that timeframe. By understanding connect rates based on time of day, we could prioritize the following day’s calling list and boost efficiency.
Go beyond the initial sale
Utilizing QBRs opens the opportunity to strengthen relationships well beyond the initial sales. Like the point above, a good partnership needs to think outside the box and analyze new sale chances outside of the original target.
Recently, TTEC led a lead generation program for an organization whose sales team contacted buyers who only made a purchase over a set amount of dollars. So we asked, what about buyers who are below this margin? After discussing in the client QBR, we were given permission to ramp up a team that served this demographic, adding hundreds of thousands of dollars that were otherwise unnoticed because it did not fit the original sales model.
Provide proactive solutions with data
QBRs can offer unique insights that provide organizations with proactive strategies that can drastically improve the quality of a sales program. Data scientists are an instrumental part of the process by providing unique digital and data-driven strategies to improve the customer and employee experience.
By analyzing the data, strategic marketing managers can implement digital tools such as messaging into areas of customer service that can improve from automation to handle more manual tasks like product information, while still giving human associates the means to dive in and provide meaningful, empathetic, service.
Be more than a sale
A healthy client relationship relies on the ability to bring value to the table well beyond the initial sale. QBRs are incredibly versatile tools that give sales teams the opportunity to explore hidden opportunities by diving into the data and uncovering proactive solutions. If you’ll like to learn more about the client stories mentioned by Farr, explore TTEC’s sales client stories.