It is a proven fact that it costs more to find a new customer than it does to retain an existing customer. That is why it is important to understand both which your best customers are today, and which have the potential to spend more and become your best customers tomorrow. In other words, where is the potential to obtain a greater share of a customer's spending or "share of wallet".
For many businesses, getting a clear picture of the potential in your customer base is a challenge. You know how much your customers buy from you, but in order to correctly interpret the situation you need information on the market, how much customers purchase in total and how much customers buy from different suppliers.
Bisnode's share of wallet (SOW) analysis enables you to identify your most loyal customers and customers where you have the greatest untapped potential.