The Power of the Business Review

Don't assume your clients know your value. Instead, show them. In this video, we're unpacking the power of business reviews - see how they can open the door to more business.

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Over the past year, we've talked a lot about how to take advantage of cross-selling and team selling and the fact that you should, because those things improve your retention, they improve your sales results, they improve your closing ratios. And one of the best ways that you can do this with your existing client base is to have a set of business reviews, as some people call them, QBRs because they run them quarterly. Some people call them business reviews because they might do them monthly or annually. It doesn't matter what you call them, but there are strategic meetings that you set up with your customers to review the current state of the business and to talk about the future.

The best business reviews include a wide spectrum of audiences from your customer. People who maybe use your product, people who are decision makers, stakeholders in the organization. And they also include leadership from your organization as well as other specialists. And if they have an implementation or an account manager or a client success person, it would include those.

We talk about the existing state of the business, what they're currently purchasing, how it's currently working, what ongoing products you have the value of that right, the success, how much money they're making, how much time they're saving, how much more productivity they have. Whatever it is, that is the value - you review that and show them clearly the value they're driving at. You talk about what's coming, your product roadmap or the vision of your company. You get feedback from them on what's coming from them. And then you talk about places that it can dovetail.

You know, client of mine recently said they started this process of business reviews, and they're using good data from the customer that shows improvements in their business and where they're saving and where they're being more efficient. And at the end of these reviews, the customer looks at them and says, so what else can we do together? Oftentimes in business reviews, if you're not ashamed to show the customer all the value they're getting from you, they open the door and they say, this is great. How do we get more of this? What can we do more of?

But you've got to be dedicated to having the strategic conversation. I will tell you this one thing.

Most sellers will say to me, I don't need to do business reviews. I see my customer all the time. I talk to them all the time or they know the value they're getting. Don't make that mistake. Seeing them all the time, talking to them all the time, exchanging emails or assuming that the customer understands the value is diminishing your ability to grow your business.

Don't forget to check out: The #1 Factor for Success!