Focus on your customers rather than market share

Instructions

  1. Increase your “share of wallet.”
    Figure out which needs you can satisfy, then use the knowledge you have and the trust you’ve built to make that additional sale.
  2. Increase the durability of customer relationships.
    Invest money in customer retention because it’s a small fraction of customer acquisition cost.
  3. Increase your product offerings to customers.
    By being customer-focused instead of retail-focused or factory-focused, a manufacturer or merchant can widely increase its offerings, thus increasing the share of the wallet.
  4. Create an interactive relationship that leads to meeting more customer needs.
    It’s a cycle. By constantly encouraging the consumer to give more information, the marketer can offer more products.

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