Six Sigma CRM improves understanding of customer behavior, allowing you to acquire new customers and build customer loyalty. Companies have deeper, more precise data analysis and proven Six Sigma methods to understand the factors that drive customer satisfaction and profitable relationships.
Six Sigma CRM is a way of continuously increasing customer satisfaction and profit that goes beyond reducing defects and emphasizes business-process improvement in general. When implemented as part of a business strategy it offers a focused approach to executing the strategic plan and directs the efficient application of resources to areas critical to bottom-line success.
All too often, businesses base their performance on a mean or average-based measure of the recent past. However, the reality is that customers don’t judge businesses on averages. They experience the variance in each and every transaction or purchase. Customers value consistent and predictable business processes and high-quality products. Six Sigma CRM focuses first on reducing variation, and then on improving process capability.
This customer-centered Six Sigma CRM approach can help your organization:
- Increase sales and improve win rates
- Create top-line growth by developing and delivering products that customers value
- Improve service, reduce response time and improve customer satisfaction
- Reduce costs and improve quality by 20%– 50% across the board, including an 85% reduction in sales-approval and proposal turnaround times, 100% sales-force empowerment in the sales process and 250% improvement in service-request closure times.
With Six Sigma CRM’s advanced analytic technology and Six Sigma methodology, companies can expect a fast, dramatic and sustainable improvement in sales, marketing, services and support processes. It will help decision-makers identify defective business processes sooner and optimize customer interactions and service across the enterprise. Better information will help decision-makers make smarter decisions, increasing corporate profits.
Assuming that there is indeed 50% waste in customer-facing processes, and assuming that 25% of this waste can be eliminated through improvements, then applying Six Sigma CRM methods would reduce costs by approximately 2.15%. Considering that average operating margins for the industry hover around 9.4%, this cost savings would result in a 30% increase in profit margin as a direct result of applying Six Sigma CRM to customer-facing processes.
Companies that have implemented Six Sigma CRM have reaped many benefits, including an enhanced awareness of customer needs and the integration of those needs into core processes, as well as a corporate culture of continuous improvement. If you want to climb to the top of your industry, try Six Sigma CRM. It may be the answer you have been looking for.
For more information on incorporating CRM strategies into your business, please read Customer Relationship Management.