Share of wallet.

SOW is a simple but powerful concept for both consumer and B2B markets.

How much of a customers spending on products you could supply, actually comes your way, Vs going to a competitor? how much of their “wallet” to you get? It is a great measure of the relative value of your offering to a customer against that of your competitors.

The key is to define the wallet, and fundamental to that is an understanding of the customers behavior, what they buy, from whom, via what channels, why they buy it, and what they buy it instead of.

Setting the parameters of a wallet for major or target customers is a task that should be central to any strategic effort to enhance performance. It is also a valuable exercise for the sales and marketing personnel, as it demands a critical examination of the customer, always a useful exercise.

About strategyaudit

StrategyAudit is a boutique strategy and marketing consultancy concentrating on the challenges of the medium sized manufacturing businesses that make up the backbone of our economy. The particular focus is on their strategic and marketing development. as well as the business and operational efficiency improvements necessary for day to day commercial survival. We not only give advice, we go down "into the weeds" to ensure and enable implementation.
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2 Responses to Share of wallet.

  1. Pingback: 2 vital and connected KPI’s for SME’s | StrategyAudit

  2. Pingback: Less is often more « Strategyaudit’s Blog

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