Core strategies to increase wallet share
Boosting wallet share requires thoughtful tactics to steadily capture a greater share of consumer wallets by delivering higher perceived value. This section explores a strategic framework encompassing optimization levers across six focal points:
- Pricing models
- Packaging tiers
- Add-on modules
- Upsell and cross-sell
- Promotions
- Loyalty
Astute growth leaders artfully test permutations across these avenues to expand monetization in adherent, customer-centric ways that deliver proportionate added value. Let’s closely examine the leading tactics within each approach.
Pricing model selection
Finding optimal price levels involves balancing user willingness to pay against preserving attractive unit economics. Here are some common pricing philosophy frameworks:
- Value-based pricing: Pegging core pricing to a broader perceived end-user value, rather than relying solely on underlying costs or competitor...
