In developing a CRM program,the "share" of the customer refers to:
A) the value of the customer over his or her lifetime
B) the share of the firm's revenue the customer generates
C) the share of expenditure the customer spends compared to his or her total income
D) the percentage of expenditures a customer makes with one particular firm compared to total expenditures in the product category

Question

Quizplus · Accepted Answer

The "share" of the customer in CRM refers to the percentage of expenditures a customer makes with one particular firm compared to total expenditures in the product category. This metric is useful for understanding how much of the customer's purchasing power is being spent on the company's products or services, as well as how loyal the customer is to the brand. It can help businesses identify opportunities for growth by targeting customers who have a lower share of wallet and incentivizing them to increase their spending with the company.

In Developing a CRM Program,the "Share" of the Customer Refers