Quarterly Business Reviews Aren’t Just for Clients | Sales Strategies

Most of my clients have a practice where they do quarterly business reviews with their best customers. This is something that I advocate as a best selling practice for key account management.

However, we need to do quarterly business reviews for our own territories that are internal to the customer and many sales teams miss out on this great opportunity to plan for the next quarter and leverage success. Here’s how you can do an internal quarterly business review for your territory.

First, discuss what the big wins were in the last quarter and ask yourself why you won them. That way, you can leverage that success into the rest of the year.

[bctt tweet=”It’s so important for you to know why you won your business.” username=”EngageColleen”]

Then, find out what your biggest losses were in the quarter. Why did you lose them? This win-loss analysis is so critical for your whole team to learn. Next, do a review of your top 5 accounts. What’s happening in your top 5 accounts? Where are you positioned with them? Are you able to sell more or maintain what you’re already selling? What are the risks that you or your competitors might be facing?

After you do these analyses, transition to talking about the next quarter. Look at your territories and see what your forecast is at the beginning of the quarter. Then think about what your forecast will be at the end of the quarter. Is there a gap? If there is, what initiatives can you take to fill that gap? If there’s no gap, what initiatives are you taking right now to make sure deals get closed?

Finally, what is your risk mitigation strategy? Which accounts are the riskiest to close and what are you going to do to make sure you backfill so that you don’t miss your goals? This is a very simple process that should only take an hour for each sales rep to run through, but it’s highly effective in helping everybody on your team understand the key activities that they need to implement to hit their sales goals.