When entrepreneurs implement Six Sigma, they can experience benefits that help them increase customer satisfaction. And when customers are consistently happy, they eventually become loyal. That loyalty can easily be translated into more revenue for the business because customers become willing to pay any price.
Here are Six Sigma benefits that help entrepreneurs turn customers into loyalists.
Improved Product Quality
A product with a defect can significantly reduce customer satisfaction. And when a product has too many defects, it becomes defective, rendering it unusable. When processes within the business are churning out a high rate of defects and affecting customer satisfaction, the bottom line can take a hit. Luckily, Six Sigma is all about eliminating defects.
When entrepreneurs implement Six Sigma, they can identify and reduce the occurrence of defects by improving business processes. Not only will this lead to a tiny portion of products having defects, but it also means that quality will be improved and customer satisfaction will increase.
Reduction in Price
Improved processes are more efficient, meaning they use fewer resources. A less optimized process demands more resources, including money, which is a waste. Since entrepreneurs run a small business, every penny counts. Furthermore, because money is being saved, those savings can be transferred to the customers.
This is a win-win scenario for both entrepreneurs and customers. Entrepreneurs get to see their bottom line improve while customers get quality products at a reduced price. This is important for small business owners trying to make an impact in a saturated market.
Increased Customer Confidence
Consistently producing high-quality products through Six Sigma enhances customer experience. Customers might not realize this directly, but it is something they appreciate. To make it more obvious, entrepreneurs can communicate to consumers through email or the business website that they take Six Sigma seriously. When customers see this, they will have more confidence in the business, making them more willing to purchase from the entrepreneur instead of others.