Blog · Wallet share and penetration
Why whitespace and share of wallet describe the same customer gap from two directions, whitespace by product line from the grid and share of wallet by total spend from the wallet, when each is the right measure, whitespace for the conversation about which line and share for the conversation about how much, how they reconcile, the case where they disagree and what it means, and the rule that a report shows both with the same norm behind each.
A sales team has a whitespace grid and a share of wallet table and treats them as two projects. They are one gap from two directions, and read together they say which line and how much. This guide sets out each, when to use which, the reconciliation, and the case where they disagree.
| Whitespace | Share of wallet | |
|---|---|---|
| Unit | Account by product line | Account |
| Question | Which lines does this account not buy that similar accounts do? | How much of this account's spend do we hold? |
| Norm | Share of similar accounts holding each line; median spend per line | Total spend of similar accounts per unit of size |
| Output | Cells, valued; returning lines first | A share, a gap in dollars, a ceiling |
| Conversation | Which line | How much |
| Situation | Use |
|---|---|
| Ranking the rep's week by dollars | Share of wallet gap |
| Preparing the call | Whitespace: the named line, returning first |
| Board reporting on the base | Share of wallet, weighted by wallet |
| Product management: which lines have gaps everywhere | Whitespace, by column |
| An account with every line and low spend | Share of wallet, and the depth gap |
Share of wallet gap = whitespace value + depth gap on held lines
Where the depth gap is, for each line the account holds, the norm's median spend on that line less the account's spend, floored at zero. Both against the same norm.
Account identifiers only.
| Account | Whitespace value | Depth gap on held lines | Share of wallet gap | Reading |
|---|---|---|---|---|
| 4471 | $82,000 | $348,000 | $430,000 | Mostly depth: buys every line, thinly |
| 1187 | $75,000 | $690,000 | $765,000 | Both |
| 2207 | $0 | $70,000 | $70,000 | Depth only: every line, slightly under |
| 9034 | $0 | $30,000 | $30,000 | Nearly full |
Account 4471 has two empty lines worth eighty-two thousand and three hundred and forty-eight thousand of depth on the lines it holds. Whitespace alone would have sent the rep to talk about lines B and C; share of wallet says the larger conversation is about buying more of line A.
Whitespace at zero, share of wallet at 25 percent: the account holds everything and buys a third of the norm on each. Depth, not breadth. The upsell guide covers it; whitespace cannot see it, and a report that shows only whitespace calls that account full.
Two projects. Two norms; nothing reconciles; two lists that disagree.
Whitespace as the ranking. Small accounts with many empty cells at the top.
Share of wallet as the call prep. A percentage and no line to talk about.
Depth gap ignored. The account that holds everything thinly, called full.
Mapped once, the ledger, the customer master and one set of norms produce the whitespace grid, the share of wallet table and the reconciliation between them every month. Covirage builds this from the exports as they are. The whitespace analysis guide covers the grid, and the cross-sell and upsell guide covers the depth gap.
Whitespace, for the call, because it names the line. Share of wallet, for the priority, because it ranks the customers by dollars at stake. The rep's list is ranked by share of wallet gap and each row opens to the whitespace grid for that customer.
Yes, in one direction. A customer can hold every expected line and still buy a third of what similar customers buy on each: whitespace is empty, share of wallet is low. That is depth, not breadth, and it is an upsell conversation. The reverse, empty cells with a full wallet, cannot happen if the two use the same norm.
Whitespace value plus depth gap on held lines equals the share of wallet gap, when both are computed against the same norm. A report that shows the two with different norms will not reconcile and should not show both.