How can lean six sigma improve sales? Amitabh Saxena from Anexas Europe explains how LSS can be applied to improve sales.
Sales is not about selling anymore, it’s about building trust and educating
• “Can Six Sigma be applied to the sales process?” The answer is, “Yes!” It starts with minimizing defects and then cutting out unnecessary steps by identifying what to measure, assessing and augmenting your team, and converting best practices to common practices.
• A Six Sigma principle is to measure and control the inputs to sales process and improve the outputs. In sales, the outputs are the results or orders.
• Identify the few vital key management inputs (we call them x factors) that are qualifying factors assigned to the opportunities in the pipeline.
• Examples include discount rates, proposals, mutual plans and access to power decision-makers.
• Once you’ve identified them, manage these inputs to measure and report on actual business results.
• Sales managers must focus on reducing defects that drive up costs, such as wasting time on unproductive sales calls, counterproductive conversations and circling back to unqualified opportunities.
• By consistently and rigorously qualifying prospects, you can minimize the variations in the pipeline and focus on qualified opportunities.
• Time and resources wasted on no-decision opportunities are unrecoverable costs to a sales organization.
• Time taken to respond to a request for proposal i.e RFP
• A quality initiative in any process will incorporate best practices. Why reinvent the wheel? Converting best practices to common practices is key to a successful sales process
• The recipe for success is making sure you are generating predictable outcomes.
• Just as all great chefs have their own recipes to eliminate the variation in their end products, leaders in world-class sales organizations rely on a sales process to reduce the variations in qualified prospecting and, thus, maximize their revenue and margins.
• A sale team is no different than a manufacturing organization. Think of sales as the manufacturing arm of any business that “manufacturers” customers from the “raw materials” of leads and prospects.
• Does your customer manufacturing process deliver the results you expect? Are you managing the vital few inputs that will maximize the quality of your results? To answer with an emphatic “Yes!”, implement a Six Sigma sales process that enables you to reach short-term goals as well as your long-term strategic imperatives.
• Increase number of prospects and leads
• Increase conversion rates
Don’t find customers for your products, Find products for your customers
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