When economic pressures rise, your focus should shift from acquiring new customers to nurturing the value of existing ones.
Maximising customer share of wallet can help retain and expand business without slashing prices.
Our guide provides actionable insights on how B2B businesses can leverage loyalty and incentive programs to secure a larger share of their customers’ spending, boosting both short-term revenue and long-term brand loyalty.
Start building a more resilient and profitable customer base today with strategies that drive real results. The key to success lies in engaging your current customers in ways that increase their loyalty and spending.
In tough economic times, capturing share of wallet becomes a crucial strategy for businesses looking to maintain growth and outpace competition. By designing loyalty and incentive programs that focus on increasing customer spend and reinforcing long-term brand loyalty, you can ensure your business remains top-of-mind when customers make purchasing decisions.
Our case studies illustrate how businesses have successfully implemented these strategies, showcasing proven results and providing actionable ideas for your own programs. Learn how you can apply these insights to strengthen customer relationships and drive real, measurable growth.
These examples highlight how a focus on share of wallet can not only stabilise your business during downturns but also create a competitive advantage. By prioritising customer loyalty and tailored rewards, you can set your business apart in an increasingly crowded marketplace.
Nulon are always looking at ways to engage with our customers and support your relationships in meaningful ways that create opportunities for mutual growth. We are extremely pleased with the results of Nulon Xccelerate Rewards. It’s a program like no other in our space and I would highly recommend the 212F.
212F are a proactive, supportive event partner who are responsive to the needs of our business. Our events are always delivered to an exceptionally high standard, and with 212F’s industry experience and amazing support we couldn’t ask for a better event partner in organisation of our annual National Conference.
212F has consistently delivered outstanding products and experiences over the many years and many program incarnations I have worked with them on. They deliver a top-tier experience all round – understanding the business objectives and tailoring the promotion/experience to suit.
212F do an excellent job of managing our rewards program, talking to our partner community – great clear communication, along with an in-depth understanding of our business needs. The engagement, the support, the forward thinking, it’s all been next level and hugely appreciated.
Share of wallet is the percentage of a customer’s total spending within a specific category that goes to your business. Increasing your share of wallet is a direct path to sustainable growth by capturing more revenue from your existing, loyal customers.
A business can measure its share of wallet by analysing customer data to understand their purchasing potential and by conducting direct surveys. Combining this data with insights from your sales team helps create an accurate picture of customer spending.
The most effective strategy to increase share of wallet is implementing a B2B loyalty program that incentivises customers to consolidate their spending with your brand. These programs make customers feel valued, which directly encourages them to spend more with you instead of your competitors.
Got questions about B2B incentive & loyalty programs, reward options or travel incentive & events ideas?
No question is too big or too small. We’d love to help you, whether that’s a potential B2B loyalty program design or a delivery of an engaging reward option. Give us a call or fill out the form below and we’ll be in touch soon.
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