Over the past two weeks we talked about how Six Sigma can help organizations accomplish “What’s Needed” and the significance of being “On Time.” But none of this matters much if it is not done “With Value.”
Value – wartosc – der Wert – valor . . . Whether said in English, Polish, German or Spanish, there is one thing that these words have in common and that is all customers want it. What is value? It is “that quality of anything which renders it desirable or useful.”
The “With Value” component of W.O.W. is sometimes the hardest to quantify because it is made up of both cost and a somewhat more intangible component – customer satisfaction (or as I like to call it customer delight). This intangible component is all about how the customer ‘feels’ about your product or service. Identifying and perfecting the aspects of your product or process that makes customers ‘feel good’ doesn’t just happen. It requires a methodical approach; one that can be shaped by applying Six Sigma to all aspects of the “With Value” component of W.O.W. By finding new and innovative ways to eliminate defects, variance and waste, Six Sigma can help keep cost low. By always focusing on the Voice of the Customer, customer delight is kept at the forefront.
The “With Value” component completes the formula for W.O.W. as follows:
W.O.W. = (What’s Needed) x (On Time) x (With Value)
Rate each component from 0 to 1 and you can find out where you stand on your Customer’s “Wow-o-meter.” Sounds simple but scoring a 1 in any of the three categories is tough. What does it take to score a 1?
- What’s Needed: Consistently providing what the customer wants AND anticipating their future needs.
- On Time: Consistently providing your product or service when promised, where promised and at the best-in-class cycle time.
- With Value: Consistently assuring that cost to the customer reflects relative worth AND intangible characteristics are continuously honed to delight the customer (i.e., providing an unexpected satisfaction booster).
By effectively applying Six Sigma tools and methods, companies can optimize the three elements of W.O.W. And once they do, they can take their customers for a “Walk on the W.O.W. Side.”
Had any W.O.W. experiences lately? Share them here and let the world know how it feels to be a customer who has recently experienced a walk on the W.O.W. side!