How to Find Your Business’s White Space Opportunities?

In business, white space is where the unspoken, unmet needs of a customer are discovered to spark innovation. It is normally a business process that uncovers opportunities such as new audiences and areas of a product that need improvement. When businesses such as want to innovate, that happens first by looking at the white spaces. Sometimes, consumers don’t know what they need until they are informed of what they need.

If you are running a business and would like to discover these white spaces, here are a couple of ways to go about it.

Innovate on what you offer to your customers

One of the best places for finding white spaces is within what you offer to your customers. Consider identifying where in your products you can spot any white spaces. Ask yourself where your customer needs are and are not being met. You might be blogging across a topic you have an interest in and through the research you carry, you might identify these spaces. All you need is to be creative and look for opportunities to innovate.

Target a different audience segment

If you are struggling to find where you can innovate for a certain audience, maybe it’s an opportune moment for you to shift your focus. You may consider targeting a different part of your audience. If you are fully into offering value for your content marketing audience, you may consider the white spaces you might have for SEO audiences. If you ar3e running a social media marketing agency focused on B2B clients, you can be innovative to find white spaces. Instead of marketing your company as one focused on B2B clients in a tech field, you can shift your customer base to one that serves B2B developers.

Ask customers how they use your products

Another way of finding white spaces is through your customers. Research how customers fit your offering into their day to day tasks. Doing so can help you find white spaces that you didn’t know existed. Say you are a part of a company that is focused on chatbot software. Go ahead and ask your customers how your services fit into their needs. You might find customers who enjoy using chatbots for lead nurturing on their eCommerce sites. If that is an area you had missed during your initial product launch, be sure to include the same.

Find where your company is different

Take an example you are in charge of analytics software. You might be aware that there is a countless number of companies in the market struggling to find white spaces. A lot of analytics and reporting software becomes increasingly hard to implement. If you can eliminate the struggle customers face, you are in for business. You can start a company that ensures your products are user friendly, and even those with less experience can find it easy to use your products. Make innovation part and parcel of everything you do, and be ready for change.

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