Share of wallet is the dollar amount an average customer regularly devotes to a particular brand rather than to competing brands in the same product category. Companies try to maximize an existing customer's share of wallet by introducing multiple products and services to generate as much revenue as possible from each customer. A marketing campaign, for example, may have a stated goal of increasing the brand's wallet share for specific customers at the expense of its competitors.Share of wallet is the amount an existing customer spends regularly on a particular brand rather than buying from competing brands.Companies grow wallet share by introducing multiple products and services to generate as much revenue as possible from each customer.A marketing campaign might focus on boosting spending by existing customers rather than increasing the product's overall market share.Benefits from increasing a client's share of wallet include added revenue, improved client retention, customer satisfaction, and brand loyalty.Become a supporter of this podcast: https://www.spreaker.com/podcast/investment-terms--4432332/support.

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