What's Next?

The great end of life is not knowledge but action.¹

—Thomas Henry Huxley, distinguished English biologist and early advocate of Darwinism

Now that you have read the book, it's time to act on what you've read. Here are some things you can do next to make the Wallet Allocation Rule work for you.

Establish That You Need It

The primary reason to use the Wallet Allocation Rule is that current customer metrics (e.g., satisfaction, Net Promoter Score, etc.) are poor predictors of share of wallet. But please don't simply take our word for it. We strongly recommend you begin by determining the strength of the relationship for yourself. In Chapter 1 (see Figure 1.6) we show an easy way to do this using Microsoft Excel. In our experience, the percentage of variance explained (i.e., R-square) is typically around 1 percent. In other words, 99 percent of customers' share of spending is unexplained by satisfaction or Net Promoter. This is “Oh my God!” bad.

Get Help

We are passionate about helping companies win where it counts—in the spending of their customers. We would be happy to work with you to make the Wallet Allocation Rule an integral part of your customer experience management strategy. To learn more, contact us at [email protected].

Let's Talk

We love speaking to companies and at events about harnessing the power of the Wallet Allocation Rule in your organization. To have us speak, contact us at [email protected].

Connect with Us

We keep links to many of our research papers up on LinkedIn, and we update our accounts with new research regularly. So connect with us on LinkedIn. (A couple of rules for our LinkedIn connections: no spamming us or our connections, and no fake LinkedIn profiles.)

• Tim Keiningham: www.linkedin.com/in/timothykeiningham/
• Lerzan Aksoy: www.linkedin.com/pub/lerzan-aksoy/10/2a4/450
• Luke Williams: www.linkedin.com/pub/luke-williams/3/631/a05
• Alex Buoye: www.linkedin.com/pub/alex-buoye/3/376/661

Follow us on Twitter:

• Tim Keiningham: @tkeiningham
• Lerzan Aksoy: @lerzo

Visit www.walletrule.com

For additional resources, advice and insight—and the opportunity to share your own insight—please visit the Web site www.walletrule.com.