Tool Box

Issue No. 13 - October/November 2003

Forget About Market Share ... Go after Customer Share

by Reg Templer

You’ve heard it before: “It costs five times as much to get a new customer as it does to retain an old one.” It’s true—yet most businesses are spending small fortunes on a neverending search for new customers.

Why?

Because they want to increase market share.

If you’re AMP or Woolworths, you probably have a market share. But chances are you’re a small business that will never make an impact on market share statistics, no matter how many customers you gain.

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