White Space Analysis

The internally focused white space mapping process is an inward looking tool used to map your company s abilities and address new opportunities or threats from current competitors.

White space analysis. In this context white space basically means a place where a company might have room to maneuver in a crowded playing field as a metaphor white space is at once ubiquitous and frustratingly. White space is the gap between what products or services your customer has invested in and the other products or services that your company or business has to offer. This process is used to determine how efficiently and effectively you can react to opportunities and threats from process systems and structural perspectives. One customer may already have a 401k consisting of mutual funds and also have a life insurance policy.

Or for cars one axis cold be speed and the other safety. It is one of the most comprehensive modules i have ever experienced and honestly it is one of the most important bits of demandfarm for all stakeholders in the strategic account management ecosystem. A white space analysis is a simple 2d cartesian chart that compares various offerings across two axes of characteristics. When combined with boots on the ground real estate knowledge it is a powerful tool.

White space is essentially a gap that a business can use to scale its revenue with its products. It provides insights into the customer buying trends across different attributes such as products purchased potential or additional demands influencing factors and more. Build a matrix and look for not only what brand identity and associations each competitor owns in the market but also look for trends and commonalities across the competitive landscape. Begin by identifying your top 5 10 competitors and then do a deep dive assessment of each.

White space analysis is the process of digging through the sales data to hunt for new white space opportunities to cross sell and up sell. The white space analysis report data is derived from rule based recommendations and leads of the statuses qualified or unqualified generated within the last 90 days for the accounts in your territory. White space analysis helps to identify new sales opportunities within an existing customer account. The first step to finding whitespace in your market is to conduct a competitive analysis.

For instance in comparing snack foods one axis could be flavor and the other could be healthiness. Financial advisors who offer mutual funds exchange traded funds and insurance have many individuals and households as customers. 90 days is the preset setting and can be reconfigured. A simple yet powerful tool.