Thanks for visiting Second Hand Gym Equipment. Please remember to bookmark this page Force Measurement. If you found what your looking for, then don"t forget to click an appreciation button above for this post.
 Hand Grip Force Power Strength Measurement Meter Gauge US $8.29 
|
 Hand Grip Force Measurement Power Strength Meter US $6.09
|
 Grip Strength Meter Hand Dynamometer Force Measurement US $3.29
|
 Hand Grip Force Measurement Power Strength Meter 130KG US $3.29
|
 Grip Strength Power Force Measurement Hand Dynamometer US $3.29
|
 Hand Grip Force Measurement Power Strength Mete Hot Brand New Fashion US $3.29
|
 Hand Dynamometer Power Force Measurement for Strengthen US $3.29
|
 Hand Dynamometer Grip Strength Scale Force Measurement US $3.29
|
 Hand Grip Force Measurement Power Strength Meter N US $3.29
|
 Hand Dynamometer Meter Grip Strength Force Measurement US $3.29
|
 Hand Dynamometer Grip Strength Meter Force Measurement US $8.69
|
 Hand Grip Force Measurement Power Strength Meter 130KG US $3.99
|
Force Measurement
Improving Sales Force Effectiveness Using Six Sigma
Abstract
For effective sales, companies need to differentiate how they allocate their limited sales resources among existing customers, customer service and new business development (prospects). When ranking Customers and Prospects, the common metric is usually either sales or profits. This paper will show how you can blend multiple desirable sales characteristics including Sales Growth, Close Rate, Payment History, Unit Volume, Repeat Business, along with Sales and Profit, to create an "Overall Performance Factor" for each Customer or Prospect. This Overall Performance Factor can easily be sorted to create an objective ranking of best to lowest performance in which you can prioritize and assign the appropriate sales resources to meet the company's objectives.
Background
Sales Process / Performance Improvement Project
Customer Ranking – Shortcomings of the 80/20 Rule
Multi-Measure Approach Needed
Created a New Customer Ranking System
We were engaged to help our client, a Property & Casualty Insurance company, evaluate their Sales Process. While they were profitable, this publicly traded company had flat earnings for 3 years.
Our analysis led us to evaluate their Independent Sales Force. They sold insurance through independent agencies. These could be sole proprietors who sell one company's insurance products exclusively or larger multi-agent firms that sell multiple, and even competing lines. At the time of this project they had about 2400 independent insurance agencies. These agencies were their "business-to-business" customers.
Ranking their independent agencies based on Sales (traditional method) quickly showed itself as being an incomplete view. They were concerned about multiple measures including Sales Growth, Consumer Retention and Profitability. The company needed to do great in all of these measures, plus Sales/Revenue, to meet the earnings growth expectations their investors were demanding.
We used a Multi-Variable-Pareto calculation tool to develop a single customer (or independent agency) ranking. This tool used the principles of Pareto Analysis but allowed us to calculate an Overall Performance Indicator based on multiple performance factors.
Multi-Variable Pareto Method
Pareto Charts were developed in the late 1800's by an Italian Economist, Vilfredo Pareto. He used this analysis to determine that wealth was skewed to a small portion of the population. In his time, 80% of the land in Italy was owned by 20% of the families in Italy. From Vilfredo we derived the Pareto Principal or 80/20 rule. This is commonly used in sales, with 80% of sales generated by only 20% of customers.
Pareto Analysis is a great business tool, but there is more to increasing profit than focusing on just sales, or even just profit. There are leading and lagging indicators of profit growth from the customer base.
Measures
The first step was to determine what measures defined great customers (or great independent agencies). To do this we engaged a cross functional Six Sigma Sales team representing Sales Executives, Sales Representatives, Marketing, Finance and Operations.
The Insurance Company Six Sigma Sales Team defined great agencies as having:
High Sales $
High Gross Profit %
High Consumer Retention
High Year-Over-Year Sales Growth
By defining Sales Growth as important a measure as Sales $ they were signaling to their Account Executives that focusing on smaller but growing agencies was just as important as focusing on larger, low growth agencies. As you will see in the data below, many high-sales agencies had flat to declining sales.
Forced Ranking
Force Ranking mathematically allows us to make all these different measures equal for the overall calculation. This process simply makes the largest number equal to a 10. Then all other customers are proportioned with respect to the largest. This Factor is used in our Overall Performance calculation.
Overall Performance Factor
The Overall Performance Factor is a combination of each measure's factor. You can also weight each measure and use this to calculate the overall performance factor.
The last step is to sort the customer list based on the Overall Performance Factor. Then you can make prioritization decisions about how to allocate Sales and Customer-Service time.
Top Customers – Get them the most focus, time and service
Average Customers – How can we move them up?
Below Average Customers – Can use multiple strategies such as using an inside customer service rep versus field rep to service this customer, or remediate them
Insurance Company – Customer (Independent Agency) Ranking
(Note; the data below is an approximation of the 2400 agents)
Agent – Revenue – GP% - Retention – Sales Growth – Ranking Factor
D: $1,594,302; 64.1%; 99.1%; 28.4%; 7.9
F: $854,831; 61.6%; 97.2%; 17.4%; 6.7
K: $605,476; 47.1%; 97.3%; 32.8%; 6.6
M: $437,846; 68.2%; 98.6%; 15.7%; 6.6
A: $4,832,484; 52.6%; 88.8%; -11.3%; 5.9
L: $550,957; 56.7%; 90.3%; 19.5%; 5.9
E: $990,329; 64.7%; 90.9%; 9.6%; 5.8
C: $2,874,903; 57.2%; 87.2%; -3.7%; 5.7
Q: $370,592; 53.9%; 98.5%; 4.6%; 5.2
B: $3,219,154; 49.8%; 83.2%; -5.9%; 5.2
X: $158,731; 53.2%; 99.0%; 4.5%; 5.0
O: $420,402; 50.3%; 92.2%; 8.3%; 4.9
G: $732,865; 51.8%; 87.5%; 7.4%; 4.7
I: $619,532; 45.8%; 94.1%: 2.1%; 4.5
P: $419,475; 60.1%; 84.7%; 5.1%; 4.4
W: $166,385; 53.0%; 85.4%; 9.4%; 4.3
J: $616,291; 44.6%; 86.8%; -0.3%; 3.7
N: $421,985; 45.4%; 83.0%; -2.0%; 3.2
R: $303,291; 32.5%; 85.9%; 1.6%; 3.1
T: $200,158; 41.1%; 82.0%; -1.8%; 2.8
V: $184,910; 39.4%; 82.2%; -5.4%; 2.5
U: $192,138; 43.3%; 82.9%; -9.6%; 2.4
S: $235,219; 35.8%; 84.2%; -8.1%; 2.3
H: $645,032; 42.7%; 82.6%; -14.2%; 2.3
For additional information on this data table, goto www.supplyvelocity.com and view our "White-Papers" page.
Customer Differentiators
The next step was to determine what characteristics statistically differentiated the best customers from all others. The team brainstormed all possible ways we could segment customers. There were 72 different possible classifications.
There were 3 characteristics that were common (based on statistical testing) amongst the best. These were:
Did not already sell insurance
Had a Business Plan
Were in business for 5 – 10 years
Results
Instead of treating all customers equally, or rewarding sales agencies with high sales, but no growth, this company differentiated how they allocated sales resources to existing customers and prospects.
Sales strategies were developed based on the ranking. Different ranks required different action plans to achieve improvement. Following the analysis, they recruited insurance agencies that were similar to the high performers, trained them to match the business techniques that were used by the high performers and provided marketing support that was most highly utilized by the high performers.
For this Insurance Company, six months following the implementation of this project, earnings grew by over 26%.
About the Author
For more information on this subject goto www.supplyvelocity.com, where you can view our full white papers. Mitch Millstein, CFPIM, C.P.M., CQM, CQE President Supply Velocity, Inc. 314-406-4962 mitch@supplyvelocity.com http://supplyvelocity.com
If you are looking for a different item here are a list of related products on Second Hand Gym Equipment, please check out the following:
