Server 2012R2 Hyper-V Host Backup and Restore Process

Running Server 2012R2 and using Hyper-V for multiple guest VMs.  An additional networked server is available for storage of backups.

What is the best practice (or KB article) for using System Recovery 2013R2 (Server Edition) to backup and restore guest VMs on 2012R2 Hyper-V?

1. Do you install SSR 2013R2 on each of the guest VMs and schedule incremental OR VHD(x) backups of each guest?

2. Or...do you ONLY install SSR on the host and backup the entire host incrementally and if you need a guest VM retrieve it via SSR brower?

How would you go about restoring in the event of a Hyper-V host or guest failure?

Is SSR even the appropriate software to be using in my case?