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Uncover hidden growth at current accounts and stop customer defection with SPA’s Share of Wallet

Share of Wallet is a multi-faceted account planning tool that allows sales reps to protect their most vulnerable customers while providing targeted recommendations to growing share at existing accounts.

It helps to solve four main issues:

Highlight at-risk customers before they defect – SPA’s Share of Wallet scores each customer on their attrition risk likelihood, which acts like an early-warning system allows sales reps to fix the relationship before the customer walks out the door.

Nobody is happy when customer a customer leaves, so it is important to know who is in danger of defecting before they say goodbye. The Share of Wallet tool spots customers that may be getting ready to leave, which gives you a chance to save the relationship before it is too late.

Pinpoint negative sales trends – The tool identifies segments where sales are trending downward and alerts reps so they can have a conversation with their customer about what roadblocks may have popped up with the customer and why. Go get your sales back!

Year over year declines in sales are a good indicator that things have gone bad. These sales need to be recaptured as quickly as possible. The Share of Wallet tool identifies exactly where the decline has happened and points sales reps toward stopping the bleeding.

Identify product segments that clients don’t buy from you today, but their peers do – Finding new revenue is tough, and the best place to start is with the customers you already have. SPA’s Share of Wallet crunches the numbers to find product segments where customers are buying below their peers, or not are not purchasing from you at all. Now your reps can demonstrate their market knowledge to earn more business from current customers by having a targeted conversation about what to buy and why.

The Share of Wallet tool uses your transactional data to identify sales patterns among peer customers. By carefully analyzing the data, gaps in spend are identified by customer. This organic growth is then sent directly to your reps.

Understand your customers’ current spend with you today – Short-term, incremental gains are great, but sales leaders need to supplement that with a vision of long-term sales growth. SPA’s Share of Wallet calculates an estimate of the Total Share you have with each customer based on peer sales data. This estimate allows leadership to target big, under-developed customers and create an action plan for sales success.

It is important for sales leaders to have a clear picture of customer spend today as well as what that spend could be in the future. The Share of Wallet tool shows leadership where they currently stand and where they have room to grow with their current accounts going forward.