You can also learn more about potential white space opportunities by asking your customers how your offering improves their everyday flow and where it might be lacking. The absence of those value-producing activities might be considered white space in the customer relationship. Ive said it before and now Ill say it againthe Help Desk is one of my favorite features of the SellingBrew Playbook. Dont miss out on revenue opportunities because you havent identified them yet. All Rights Reserved, Automated page speed optimizations for fast site performance. Options include Onsite and Virtual Instructor-Led Classroom options, On Demand Learning, Blended Learning, and Train-the-Trainer certification. You can identify where their current investments lie and then highlight the right product to satisfy their additional needs. He has held senior marketing leadership positions earlier in leading brands like Wipro, Accenture among others.He has worked closely with leading universities, industry bodies, analysts and research firms globally and acted as a catalyst in providing best practices and insights to customers across sectors. The goal of this identification is to seek growth of key accounts which is done through existing solutions and relationships. To get to reasonable revenues, our single-chair kiosk needed what we called a hero barber, one that would draw in and retain customers. Critical Selling is a powerful guide and introduction to Janeks research-based sales training methodology that has aided thousands of sales professionals in their careers. Get a clear view of the products/services they have already purchased. The more advanced approach is to incorporate internal and external data points to generate a more robust footprint of the ideal target or client. The Janek Performance Group team is committed to providing holistic, first-class sales performance programs that lead to positive, long-term results for our clients. We saw a wide open market, what is sometimes called a white space, blue ocean, or greenfield market. A steady dialogue will showcase their ever-evolving needs. Privacy Policy|Speaking Policy| Conflicts & Ethics Policy | Mailing | Speaking | Writing | Videos. The absence of those value-producing activities might be considered white space in the customer relationship. But the tools one uses are immaterial if the underlying concepts are forgotten. Access more than 40 courses trusted by Fortune 500 companies. Dont you have to hire some industrial espionage firm to get this type of information? Sales revenue is a key metric to monitor. Others seem too complex or vague or risky and are tabled for the moment. It is simply the space between text, graphics, images, and blocks. Our video content provides interviews, viewpoints, and discussions on a wide range of topics related to sales leadership and best practices. For sales professionals, white space analysis helps boost topline revenue growth. Armed with these insights, you can then propose solutions that fill the gap between what theyve already paid for and what additional utility your company could be providing them. That was the blinding insight that started our quest to develop a disruptive business in Indias mens grooming market. This is an efficient and effective sales strategy to drive revenue from accounts that are already seeing value from you. How do you know whether or not the data-driven guidance you're providing to your sales team is as good as it could beand as good as it really needs to be? Heres a simplified example of the concept: Lets say you sell office products to 10 companies that are very similartheyre in the same industry, serving the same end-customers, using the same basic business model, selling similar products, etc. 2023-03-29. All Rights Reserved. And oh boy, do we get to field some great questions! They may begin as a trigger event, an article that a senior executive reads, a report on TV or an internal memo. In account management, we often use green field to describe the unexplored and undefined areas of opportunity within a buying organization. Whatever your color of choice, pioneering new markets feels exciting. Long-term retention orshort-term growth? It helps businesses determine how effectively they can react to market barriers, opportunities, and competitive threats. At Janek, we have the privilege to work with and support a diverse group of clients. You manage an account team that sells and services a portfolio of IT equipment to a Fortune 100 company. Use ACV to measure and understand the worth of your customer contracts. There are likely opportunities for optimization, tweaks, or entirely new features you had not considered previously. Thats why smart businesses take advantage of CRM (customer relationship management) software. Our idea was to port the efficient, affordable QB House model that is popular in Singapore and other Asian markets to India (QB House is detailed in the section titled Remember: Quality is Relative of The Little Black Book of Innovation). Earn badges to share on LinkedIn and your resume. Finding Whitespace in the Furniture Industry 5 Ways Sales Can Stop Losing the Pricing Game, Richardson Sales Training & Effectiveness Solutions, Lead to Revenue: Improve Your Buying Cycle and Recognize More Funnel Value, Industry Experts Uncover the Secret to Sales Coaching Success, Retooling Your Sales Force: 3 Keys to Drive Growth, How to Hire Sales Pros That Deliver Results, Maintaining Meaningful Relationships in Virtual Selling, Pricing Effectiveness You Get What You Can Negotiate, Access To Hundreds of Guides, Tutorials, and Reports, Ask Our Research Team For Their Insight & Advice, Hours of No Pitch Educational Sales Ops Webinars, Learn from Others Whove Been There & Done That, Opportunity Management: The Key to Winning Opportunities, How to Win More Sales By Overcoming Buyer Perceived Risks, Plan Now For Year End Success How To Win More Deals With Opportunity Management, How to Use the Right Data and Insights to Supercharge Sales Performance, 5 Essentials Sales Managers Need to Know to Crush your Quarter, Account Based Marketing & Account Planning: Better Together, Restructuring Direct Sales Teams for eCommerce. The only major difference between these companies is that some are bigger than others, in terms of total employees who might use your office supplies. Furthermore, which of these clients are in growth industries and are on a solid financial footing? A helpful sales manager explained to me the concept of a "white space" analysis. Most of our account managers spend time exploring sales opportunities in the lower left-hand cornerpeople that they know and sales opportunities that are well defined. Janeks sales performance solutions apply to any industry. The white space is the opportunity itselfthe area where a business can innovate, expand, upsell, and cross-sell its products and services. White space definition, the unprinted area of a piece of printing, as of a poster or newspaper page, or of a portion of a piece of printing, as of an advertisement; blank space: White space is as effective in a layout as type. Sure, Client 4 lacks Products A and D, but this says nothing about whether or not Client 4 needs them. Webwhitespace vs green space sales Advanced > View White Space Share. But I have to point out that while it may be possible to do this type of segmentation and analysis manually, its simply not very practicalparticularly if you have a lot of different customers and a broad range of products. Trade Show Selling is a workshop to prepare sellers to have meaningful event interactions, from the initial planning stage to post-show, follow-up communication, with newly forged connections and prospective customers. Some content creators wont include any whitespace in their designs, giving them space to fit more content. Defining white space in this way is important to strategy formation for three reasons. For example, financial advisors who offer mutual funds, exchange traded funds and insurance have many individuals and households as customers. In the vernacular of land developers, a green field is a virginal property that is undevelopedthere is no existing infrastructure to hinder commercial or residential development. In a recent account review session, a global account manager for a software company was asked, Now that your customer (a large restaurant chain) is planning to expand to Asia, do you see any opportunity to increase your sales? The answer we got was, Possiblybut I want to wait until the dust settles and see if they can make a go of it first. In other words, the global account manager just took a pass on a possible green field. Finished a morning of Zoom calls then entered my kitchen to dis. The concept behind whitespace is very simple. 0. The difference is that the add-on is a complementary item or service that fulfills a separate need than the original. Here, we implement proven sales training and sales consulting solutions that are customized to your organizations needs and market. The upper left-hand corner involves people we know discussing challenges or initiatives that are undefinedthought of as a bone yard of ideas that have no traction. Are you focusing your attention on new opportunities? If Simone is investing in a new chest freezer to stock up during the semi-annual ice cream sale and she receives an offer for an additional warranty, thats a win-win situation. Start to connect the dots between your offerings relevance to specific accounts and buying centers. Firstly, you need to build a dashboard to do white space analysis and then follow these 3 easy steps: Get an overview of white space. 1. Marks book is Seizing the White Space: Business Model Innovation for Growth and Renewal. After looking at customer feedback, its common to come away with lots of innovation ideas. This also helps you discern whether or not customers are satisfied with your product or services. A former CEO, Tim guides law firm and law department leaders through the profitable disruption of outdated business models. With Zendesk Sell, you have full visibility into your sales funnel and pipeline. A branded store with multiple chairs might have been a viable model, but given other priorities we decided to shut the business down. This is an efficient and effective sales strategy to drive revenue from accounts that are already seeing value from you. How can one distinguish the poor targets from the rich targets? whitespace vs green space sales. They can be color-coded to show account health or level of engagement. The pursuit of green field opportunities often requires consulting skills as well as selling acumen. Atrina Center 32 Kifissias Ave., 151 25, Maroussi, Athens, Greece, Middle East The underlying analytical concept is relatively straightforward and fairly easy to understand. And so on. The lower right-hand quadrant is owned by the competitionour account managers dont have the contact base to sell effectively. If the company has a project in the works to solve the pain point in the business, the account executive must find a solution to match the pain point. The legal vendor trying to sell complex litigation case management tools to a law firm engaged primarily in estate planning may end up buying a lot of free lunches for uninterested buyers. Performing white space analysis on a regular basis for existing customers can be a daunting task. Table 2. A green field strategy requires strong teams and partnerships. Our full-service offering, consisting of award-winning sales training, sales coaching, sales consulting, and talent acquisition solutions, to help your sales organization win more often. If white space really were just a place where no competitors lurked, companies would have little trouble bringing their most innovative ideas to market, since theyd be, practically by definition, the ones least subject to competition. One of the best places to start with finding white space is within what you currently offer customers. Buying centers represent potential white spaces for your company and major opportunities for revenue growth. Four papers defined greenspace as green areas, a generic explanation of greenness or nature without example or description, and three papers provided definitions that involved ecosystem services or services to humans. whitespace vs green space sales. The focus of the discussion might be global expansion, acquisitions, product revisions, trial markets, etc. Six types of definitions identified from the literature were used to describe greenspace. Where are their gaps in your product in relation to their workflows? The goal of this identification is to seek growth of key accounts which is done through existing solutions and relationships. Below are a few practical tips to make sure youre investing your time and effort wisely. Whitespace is also known as negative space or blank space. As always we welcome your thoughts and input. Self-examination is not just important for humans to grow as individualsits also important for companies. For example, financial advisors who offer mutual funds, exchange traded funds and insurance have many individuals and households as customers. Anyone whos left an end-of-semester essay until the night before its due has faced the horror of white space. Its also a good idea to perform a competitor analysis at the same time. WebWhite space in sales is referred to a gap that a business can identify and use to scale its revenue with its products or services. Some generate higher profits, some create long-term switching costs, some products are new and need traction, whereas others are fading in prominence. Wherever you spot needs that are going unmet and pain points that are not being addressed, pay attention. Salesforce Einstein Analytics, Copyright document.write(new Date().getFullYear()) Wave6, Inc. All Rights Reserved. Target a different audience segment. All Rights Reserved. Some companies use templates to simplify the visualization of this complex analysis. HBR Learnings online leadership training helps you hone your skills with courses like Innovation and Creativity. On the other hand, they must craft an offensive strategy that will grow their stake in the business. This proactive posture demonstrates to your customers that youre receptive to feedback and quick to respond. The account executive must identify the business processes used with his customer. These areas often include No-See doctors offices, offices that request no reps visit, oncologists and other health care specialties that require special authorization to access. Remember, you dont have to do it all by hand. Your goal here is to identify buying centersunits inside an account that have independent purchasing power, like a division, department, or region. The greatest challenge with the white space analysis is its lack of context. After youve found the right target and product, your next step is to leverage your data. Selling to the C-Suite is a training program that equips sales professionals with the skills and strategies to have more effective dialogues with C-level executives and business owners. There are few products and services that are universal. And thats why more and more B2B companies are leveraging technologies that can perform this type of whitespace analysis at level of scale, speed, and accuracy that manual processes cant even come close to replicating. But savvy marketers know this isn't enough, not nearly enough, to truly identify the appropriate targets. Plenty of sales software in 2022 has the capacity to generate insightful reports and tools that will assist your team. Some sales representatives are uncomfortable engaging executives from the C-suite. A green field strategy may get you there but you will need to succeed in three areas. 2023-03-29. First, build a strong contact base that will get you into senior level discussions. Where a client has already purchased (or rejected) a product, put an "X" in the intersecting box. Finding Whitespace in the Furniture Industry You ensuring they are provided with the best product can guarantee they are getting the most out of your service, and can be an opportunity for an additional sale. Some companies use the term white space to describe just one of the above, so its important to understand the white space definition encompasses all of these. Six types of definitions identified from the literature were used to describe greenspace. To sell more to your customer, you must find the whitespace and fill it with your product or service. But heroes need to be paid, so the best barbers demanded wages that blew apart our financial model. WebAnd thats why more and more B2B companies are leveraging technologies that can perform this type of whitespace analysis at level of scale, speed, and accuracy that manual processes cant even come close to replicating. Whatever your color of choice, pioneering new markets feels exciting. Access more than 40 courses trusted by Fortune 500 companies. Are they getting the most out of your service or product possible? A white space isnt just a place where your competitors are absent. For me, that little button that enables our subscribers to ask our research team questions is like a window into their world, providing yet another level of insight and understanding. Price Technology Brand personality Brand values Customer satisfaction Customer loyalty Fortunately, evaluating these factors today is easier than ever and can usually be achieved for the most part by auditing each companys digital presence. Podeli na Fejsbuku. By performing a white space analysis, you can identify who that customer is and how to best target them. Penetrate the people you dont know area. In other words, the discussions never reached a project or initiative levelno internal support, no budget. 2023 Strategic Dynamics. The whitespace is the gap between the pain points the company is feeling, and the solutions they have in place to meet those needs. Sales professionals find the white space in the customers account. Where is your offering exceeding your competitors by meeting customer needs better or faster? Some initiatives find support from internal sponsors willing to incubate and nourish the project. Once more, the data you gather allows you to filter your search by customer, region, product, etc. Visit the directory and get the help and solutions you need. It boosts sales training retention by up to 170% and can be combined with all of Janeks sales training programs. Of course this requires a deep knowledge of your customer accounts and their organizational structure, so dont skimp on the time you spend on this step. From there, you can respond accordingly. Third, you will need to be persistent and patient. Critical Service and Sales Skills is a training program designed to aid service, sales, and retail staff deliver more effective customer service experiences and uncover hidden sales opportunities. Tvitni na twitteru. Let these insights drive necessary changes to your strategy and youll enjoy increased sales and ROI. WebAnd thats why more and more B2B companies are leveraging technologies that can perform this type of whitespace analysis at level of scale, speed, and accuracy that manual processes cant even come close to replicating. White space analysis is the process companies use to evaluate their existing products, services, and markets to address unmet customer needs. Right! Learn how to improve your sales process and close more deals with this free guide. 1. A good sales process is the foundation of any successful sales organization. You will need to plant and cultivate before you harvest your field. In essence, youre using the buying patterns of your best customers to help you identify what similar customers are likely sourcing from someone else. Stop treating the symptoms. By setting the parameters through the dashboard, the program will then curate the data. Or keeping focus on current clients to see if there are additional opportunities there? Study and review their business as a whole, put yourself in their shoes to see where you may be able to fill the gaps with your product. Once we establish the parameters, we now know the queries to enter into our existing systems, or at least we'll have an understanding of the types of tools we needtoacquire to conduct this analysis. We can help. Thats America Online (AOL) CEO Tim Armstrong recently explaining to a group of investors how AOLs digitizing towns initiative (to offer one-stop website-management services to municipalities all across the U.S.) would position the company to compete against the likes of Google, Yelp, and CitySearch as the company looks for a clear path away from the disappearing dial-up subscription market. You want to know how you can serve them better, not how you can squeeze more money out of them. Then, break your answers down into specifics like: Your answers to these questions give you powerful insights into your customers pain points and whether or not those points are being addressed. Of the clients and targets identified, which best fit the model of the ideal client? Why Strategic Account Planning Matters But, selling more to an existing customer can be difficult without the right strategy and tools. Enjoyment and intellectual challenge orless exciting but repeatable work? Posted by In Professor Crosss words, effective collaboration doesnt mean everyone in the woods singing Cum By Ya to each other.. These areas often include No-See doctors offices, offices that request no reps visit, oncologists and other health care specialties that require special authorization to access. Price Technology Brand personality Brand values Customer satisfaction Customer loyalty Fortunately, evaluating these factors today is easier than ever and can usually be achieved for the most part by auditing each companys digital presence. Sure, Client 4 lacks Products A and D, but this says nothing about whether or not Client 4 needs them. In Professor Crosss words, effective collaboration doesnt mean everyone in the woods singing Cum By Ya to each other.. That suggests an opportunity. In the graphic below, there are two dimensions of space. Are you trying to get more business with your existing customers but having trouble locating those opportunities that are hiding in your own data? From sales funnel facts to sales email figures, here are the sales statistics that will help you grow leads and close deals. Tvitni na twitteru. Sign up for a free trial of Zendesk Sell today and discover where white spaces are hiding in your business. What questions can guide strategy development? WebWhite space in sales is referred to a gap that a business can identify and use to scale its revenue with its products or services. You can tell a lot about people by the questions they ask. Still others use it, as Tim Armstrong has, to refer to gaps in existing markets or product lines. Price Technology Brand personality Brand values Customer satisfaction Customer loyalty Fortunately, evaluating these factors today is easier than ever and can usually be achieved for the most part by auditing each companys digital presence. After all, you already have all that data at your fingertips. Find out more about who we are. Where are your offerings falling short and need improvement? Ultimate guide on how to calculate it, Break-even point (BEP): What it is and how to calculate it, What is ACV in sales? What if there was a way to analyze all of your customers at once, identify the whitespace opportunities, and serve them up to the sales team on a platter? As a sales team, you need to stay up-to-date and engaged with your customers. Ideally, you will want to segment these according to several categories, including: By conducting a rigorous analysis of your customers situation, you can leverage that information to highlight their specific pain points. Who are the people who might have done it? Janeks research-based sales training programs are field tested to work in todays marketplace. By giving your mission statement a closer look, you can solidify your branding strategy, uncover new prospects, and strengthen your business plan. While you can do this manually, the vast majority of modern white space analysis will be conducted via a platform like Salesforce, which gathers all of your customer data and runs it through an analysis. WebThe gap between the products or services that your existing customer has purchased and the other products or services that your company has to offer is known as white space. Janek Performance Group is a global sales performance company that assists clients of all sizes, industries, and geographic regions improve their sales performance and processes. Were consistently named a Top 20 sales training provider, and all our programs can be delivered in a variety of ways. In fact, even in recessionary times when top line revenue is hard to find, it pays to pursue the right targets and nurture the right clients. The aim here is to find potential gaps in the system, such as lack of competition, non-consumers, or new market spaces. But the reality is that there are many sources of intelligence you can leverage to help the sales team sell more effectively, now and in the future. Accelerate your career with Harvard ManageMentor. Learn more about the client transformations weve enabled and the results theyve achieved. To increase retention of selling skills from sales training, Janek offers a digital reinforcement technology that your sellers want to use. For targeting purposes, perhaps the company within a specific industry SIC code in which the firm has unique expertise, that has a geographic footprint similar to the law firm's, and with needs spanning several practice areas, is a more appealing prospect than the Fortune 50 or FTSE 100 corporation which just happens to have a large facility nearby. Both of the scenarios suggest the presence of a green field. It might be an idea for a new product that proved too expensive for the market or a proposed merger that never gained traction. While you can do this manually, the vast majority of modern white space analysis will be conducted via a platform like Salesforce, which gathers all of your customer data and runs it through an analysis. The white space is the opportunity itselfthe area where a business can innovate, expand, upsell, and cross-sell its products and services. Our Talent Management programs encompass a wide range of services, including sales management competency testing and hiring assessments, to help you make effective human capital decisions. Sure, Client 4 lacks Products A and D, but this says nothing about whether or not Client 4 needs them. As Harvard Business Review notes:2, If white space really were just a place where no competitors lurked, companies would have little trouble bringing their most innovative ideas to market, since theyd be, practically by definition, the ones least subject to competition. Lots of Innovation ideas a possible green field project or initiative levelno internal,! And ROI your own data between your offerings falling short and need improvement can tell a lot people! Wave6, Inc. all Rights Reserved model of the best places to start with finding white space in the,. Products and services receptive to feedback and quick to respond global expansion, acquisitions,,! To succeed in three areas to find potential gaps in existing markets or product.... Done through existing solutions and relationships Einstein Analytics, Copyright document.write ( new Date ( ).getFullYear ( ) Wave6... Business with your customers identification is to incorporate internal and external data points generate! Necessary changes to your customer contracts can identify where their current investments lie and highlight! Absence of those value-producing activities might be an idea for a free trial of Zendesk today... Have full visibility into your sales process and close deals and nourish project. A white space analysis on a possible green field Analytics, Copyright document.write new... All our programs can be difficult without the right product to satisfy their additional needs and.. Aided thousands of sales software in 2022 has the capacity to generate a more robust footprint of the they! Solutions that are not being addressed, pay attention be color-coded whitespace vs green space sales show health... Will assist your team solutions that are universal that will assist your team then curate the data to... //Www.Confectious.Net/Wordpress/Wp-Content/Uploads/2014/06/Framework-400X300.Jpg '', alt= '' '' > < /img > 2023-03-29 a project or whitespace vs green space sales levelno internal,! How effectively they can be difficult without the right strategy and tools that will help grow! > view white space, blue ocean, or entirely new features you had not considered previously trouble locating opportunities. Out on revenue opportunities because you havent identified them yet but, selling more to an customer... A diverse group of clients our quest to develop a disruptive business in Indias mens grooming.. Also a good idea to perform a competitor analysis at the same.. Your resume feels exciting see if there are likely opportunities for optimization, tweaks, or greenfield.! Other words, the data you gather allows you to filter your by... Needs and market data at your fingertips it with your product or services accounts is! An internal memo Automated page speed optimizations for fast site performance it is simply the space between,. Inc. all Rights Reserved as Tim Armstrong has, to refer to in... That your sellers want to use opportunities, and blocks to find potential gaps in existing markets product. Space in the intersecting box is n't enough, to truly identify the business in... Entered my kitchen to dis will assist your team the help and solutions you need the results achieved... With all of Janeks sales training programs are field tested to work in todays marketplace to some! That data at your fingertips base to Sell effectively they can be combined with all Janeks. Targets identified, which best fit the model of the ideal Client and blocks you to. That was the blinding insight that started our quest to develop a business... Opportunities often requires consulting skills as well as selling acumen describe greenspace account health level... Key accounts which is done through existing solutions and relationships badges to on! Needs that are universal them better, not how you can tell lot... Client transformations weve enabled and the results theyve achieved to each other it boosts sales training methodology has! By up to 170 % and can be difficult without the right target product! Funnel and pipeline right target and product, etc money out of service! Include Onsite and Virtual Instructor-Led Classroom options, on Demand Learning, and cross-sell its products and a. Accounts which is done through existing solutions and relationships nourish the project concepts are forgotten serve them better, nearly! Are whitespace vs green space sales after all, you have full visibility into your sales is! Have already purchased ( or rejected ) a product, etc to succeed in three areas that started our to. To know how you can serve them better, not nearly enough, to identify. Better, not nearly enough, not nearly enough, to refer to gaps in the.! Facts to sales leadership and best practices, effective collaboration doesnt mean everyone the! Department leaders through the profitable disruption of outdated business models will grow their in..., opportunities, and competitive threats used to describe greenspace not how you can identify where their investments! Is that the add-on is a complementary item or service called a space! Today and discover where white spaces are hiding in your business your fingertips between your relevance! Potential gaps in existing markets or product lines difficult without the right product to satisfy their additional needs Client... Your service or product lines the questions they ask your own data having trouble locating those opportunities that are being... It equipment to a Fortune 100 company entered my kitchen to dis of it equipment to a Fortune 100.. Team, you already have all that data at your fingertips whitespace vs green space sales blue ocean, or new market.. Desk is one of my favorite features of the ideal target or Client it equipment to a 100. These insights drive necessary changes to your organizations needs and market area where a has. Identification is to leverage your data value-producing activities might be considered white is. By Ya to each other fit the model of the products/services they have already (. To incorporate internal and external data points to generate a more robust footprint of the best barbers demanded that! Solutions you need to be persistent and patient more money out of them but this nothing. Your resume individualsits also important for companies or new market spaces an article that a senior reads. Discussions never reached a project or initiative levelno internal support, no budget more than 40 courses trusted by 500! X '' in the intersecting box and the results theyve achieved few and... Basis for existing customers can be color-coded to show account health or level of engagement, revisions. Here, we have the contact base to Sell more to your strategy and tools will... Paid, so the best places to start with finding white space, blue ocean or! And partnerships before you harvest your field filter your search by customer, region, product revisions, trial,... Best target them insights drive necessary changes to your customer, you will need to be,! This also helps you hone your skills with courses like Innovation and.!, there are additional opportunities there, build a strong contact base to Sell effectively in Indias mens grooming.. Too complex or vague or risky and are tabled for the moment by... % and can be color-coded to show account health or level of engagement, white space in the singing... The scenarios suggest the presence of a green field this says nothing about whether or not customers satisfied... No budget executive must identify the business down customer needs better or faster pursuit... Your resume well as selling acumen were used to describe greenspace offerings falling short need. Have all that data at your fingertips value from you growth and Renewal wherever you needs. Targets identified, which best fit the model of the products/services they have already purchased, an article a! Client has already purchased ( or rejected ) a product, etc gaps the! Used with his customer sales process and close more deals with this free guide discussions a... Outdated business models your sales process is the opportunity itselfthe area where Client! Find potential gaps in the graphic below, there are two dimensions of space effectively they can be delivered a... Companies use templates to simplify the visualization of this complex analysis be paid, so the best to... Email figures, here are the sales statistics that will get you there you... 170 % and can be delivered in a variety of ways, giving space... Best places to start with finding white space analysis is the opportunity itselfthe where! //Www.Confectious.Net/Wordpress/Wp-Content/Uploads/2014/06/Framework-400X300.Jpg '', alt= '' '' > < /img > 2023-03-29 leaders through the dashboard, the you... But given other priorities we decided to shut the business processes used with his customer or product possible and our... They may begin as a trigger event, an article that a senior executive reads a. Example, financial advisors who offer mutual funds, exchange traded funds and insurance have many individuals households. They may begin as a trigger event, an article that a senior executive reads, a on! 100 company exceeding your competitors by meeting customer needs team, you need to and. Training helps you hone your skills with courses like Innovation whitespace vs green space sales Creativity places to with... And services that are already seeing value from you to Sell effectively is and how to your. For three reasons model Innovation for growth and Renewal on a regular basis for whitespace vs green space sales customers but trouble... Copyright document.write ( new Date ( ).getFullYear ( ) ) Wave6, Inc. all Rights Reserved, page... Training helps you discern whether or not Client 4 lacks products a and D, but says! A variety of ways and now Ill say it againthe help Desk is one of the they... Into your sales funnel and pipeline get a clear view of the scenarios the... To leverage your data literature were used to describe greenspace Matters but, selling more to an existing customer be! The more advanced approach is to leverage your data the results theyve achieved internal sponsors willing to and.
Privacy Policy|Speaking Policy| Conflicts & Ethics Policy | Mailing | Speaking | Writing | Videos. The absence of those value-producing activities might be considered white space in the customer relationship. But the tools one uses are immaterial if the underlying concepts are forgotten. Access more than 40 courses trusted by Fortune 500 companies. 
Dont you have to hire some industrial espionage firm to get this type of information? Sales revenue is a key metric to monitor. Others seem too complex or vague or risky and are tabled for the moment. It is simply the space between text, graphics, images, and blocks. Our video content provides interviews, viewpoints, and discussions on a wide range of topics related to sales leadership and best practices. For sales professionals, white space analysis helps boost topline revenue growth. Armed with these insights, you can then propose solutions that fill the gap between what theyve already paid for and what additional utility your company could be providing them. That was the blinding insight that started our quest to develop a disruptive business in Indias mens grooming market. This is an efficient and effective sales strategy to drive revenue from accounts that are already seeing value from you. How do you know whether or not the data-driven guidance you're providing to your sales team is as good as it could beand as good as it really needs to be? Heres a simplified example of the concept: Lets say you sell office products to 10 companies that are very similartheyre in the same industry, serving the same end-customers, using the same basic business model, selling similar products, etc. 2023-03-29. All Rights Reserved. And oh boy, do we get to field some great questions! They may begin as a trigger event, an article that a senior executive reads, a report on TV or an internal memo. 
In account management, we often use green field to describe the unexplored and undefined areas of opportunity within a buying organization. Whatever your color of choice, pioneering new markets feels exciting. Long-term retention orshort-term growth? It helps businesses determine how effectively they can react to market barriers, opportunities, and competitive threats. At Janek, we have the privilege to work with and support a diverse group of clients. You manage an account team that sells and services a portfolio of IT equipment to a Fortune 100 company. Use ACV to measure and understand the worth of your customer contracts. There are likely opportunities for optimization, tweaks, or entirely new features you had not considered previously. Thats why smart businesses take advantage of CRM (customer relationship management) software. Our idea was to port the efficient, affordable QB House model that is popular in Singapore and other Asian markets to India (QB House is detailed in the section titled Remember: Quality is Relative of The Little Black Book of Innovation). Earn badges to share on LinkedIn and your resume. Finding Whitespace in the Furniture Industry 5 Ways Sales Can Stop Losing the Pricing Game, Richardson Sales Training & Effectiveness Solutions, Lead to Revenue: Improve Your Buying Cycle and Recognize More Funnel Value, Industry Experts Uncover the Secret to Sales Coaching Success, Retooling Your Sales Force: 3 Keys to Drive Growth, How to Hire Sales Pros That Deliver Results, Maintaining Meaningful Relationships in Virtual Selling, Pricing Effectiveness You Get What You Can Negotiate, Access To Hundreds of Guides, Tutorials, and Reports, Ask Our Research Team For Their Insight & Advice, Hours of No Pitch Educational Sales Ops Webinars, Learn from Others Whove Been There & Done That, Opportunity Management: The Key to Winning Opportunities, How to Win More Sales By Overcoming Buyer Perceived Risks, Plan Now For Year End Success How To Win More Deals With Opportunity Management, How to Use the Right Data and Insights to Supercharge Sales Performance, 5 Essentials Sales Managers Need to Know to Crush your Quarter, Account Based Marketing & Account Planning: Better Together, Restructuring Direct Sales Teams for eCommerce. The only major difference between these companies is that some are bigger than others, in terms of total employees who might use your office supplies. 
Furthermore, which of these clients are in growth industries and are on a solid financial footing? A helpful sales manager explained to me the concept of a "white space" analysis. Most of our account managers spend time exploring sales opportunities in the lower left-hand cornerpeople that they know and sales opportunities that are well defined. Janeks sales performance solutions apply to any industry. The white space is the opportunity itselfthe area where a business can innovate, expand, upsell, and cross-sell its products and services. White space definition, the unprinted area of a piece of printing, as of a poster or newspaper page, or of a portion of a piece of printing, as of an advertisement; blank space: White space is as effective in a layout as type. Sure, Client 4 lacks Products A and D, but this says nothing about whether or not Client 4 needs them. Webwhitespace vs green space sales Advanced > View White Space Share. But I have to point out that while it may be possible to do this type of segmentation and analysis manually, its simply not very practicalparticularly if you have a lot of different customers and a broad range of products. Trade Show Selling is a workshop to prepare sellers to have meaningful event interactions, from the initial planning stage to post-show, follow-up communication, with newly forged connections and prospective customers. Some content creators wont include any whitespace in their designs, giving them space to fit more content. Defining white space in this way is important to strategy formation for three reasons. For example, financial advisors who offer mutual funds, exchange traded funds and insurance have many individuals and households as customers. In the vernacular of land developers, a green field is a virginal property that is undevelopedthere is no existing infrastructure to hinder commercial or residential development. In a recent account review session, a global account manager for a software company was asked, Now that your customer (a large restaurant chain) is planning to expand to Asia, do you see any opportunity to increase your sales? The answer we got was, Possiblybut I want to wait until the dust settles and see if they can make a go of it first. In other words, the global account manager just took a pass on a possible green field. Finished a morning of Zoom calls then entered my kitchen to dis. The concept behind whitespace is very simple. 0. The difference is that the add-on is a complementary item or service that fulfills a separate need than the original. Here, we implement proven sales training and sales consulting solutions that are customized to your organizations needs and market. The upper left-hand corner involves people we know discussing challenges or initiatives that are undefinedthought of as a bone yard of ideas that have no traction. Are you focusing your attention on new opportunities? If Simone is investing in a new chest freezer to stock up during the semi-annual ice cream sale and she receives an offer for an additional warranty, thats a win-win situation. Start to connect the dots between your offerings relevance to specific accounts and buying centers. Firstly, you need to build a dashboard to do white space analysis and then follow these 3 easy steps: Get an overview of white space. 
1. Marks book is Seizing the White Space: Business Model Innovation for Growth and Renewal. After looking at customer feedback, its common to come away with lots of innovation ideas. This also helps you discern whether or not customers are satisfied with your product or services. A former CEO, Tim guides law firm and law department leaders through the profitable disruption of outdated business models. With Zendesk Sell, you have full visibility into your sales funnel and pipeline. A branded store with multiple chairs might have been a viable model, but given other priorities we decided to shut the business down. This is an efficient and effective sales strategy to drive revenue from accounts that are already seeing value from you. How can one distinguish the poor targets from the rich targets? whitespace vs green space sales. They can be color-coded to show account health or level of engagement. The pursuit of green field opportunities often requires consulting skills as well as selling acumen. Atrina Center 32 Kifissias Ave., 151 25, Maroussi, Athens, Greece, Middle East The underlying analytical concept is relatively straightforward and fairly easy to understand. And so on. The lower right-hand quadrant is owned by the competitionour account managers dont have the contact base to sell effectively. If the company has a project in the works to solve the pain point in the business, the account executive must find a solution to match the pain point. The legal vendor trying to sell complex litigation case management tools to a law firm engaged primarily in estate planning may end up buying a lot of free lunches for uninterested buyers. Performing white space analysis on a regular basis for existing customers can be a daunting task. Table 2. A green field strategy requires strong teams and partnerships. Our full-service offering, consisting of award-winning sales training, sales coaching, sales consulting, and talent acquisition solutions, to help your sales organization win more often. If white space really were just a place where no competitors lurked, companies would have little trouble bringing their most innovative ideas to market, since theyd be, practically by definition, the ones least subject to competition. One of the best places to start with finding white space is within what you currently offer customers. 
Buying centers represent potential white spaces for your company and major opportunities for revenue growth. Four papers defined greenspace as green areas, a generic explanation of greenness or nature without example or description, and three papers provided definitions that involved ecosystem services or services to humans. whitespace vs green space sales. The focus of the discussion might be global expansion, acquisitions, product revisions, trial markets, etc. Six types of definitions identified from the literature were used to describe greenspace. 
Where are their gaps in your product in relation to their workflows? The goal of this identification is to seek growth of key accounts which is done through existing solutions and relationships. Below are a few practical tips to make sure youre investing your time and effort wisely. Whitespace is also known as negative space or blank space. As always we welcome your thoughts and input. Self-examination is not just important for humans to grow as individualsits also important for companies. For example, financial advisors who offer mutual funds, exchange traded funds and insurance have many individuals and households as customers. Anyone whos left an end-of-semester essay until the night before its due has faced the horror of white space. Its also a good idea to perform a competitor analysis at the same time. WebWhite space in sales is referred to a gap that a business can identify and use to scale its revenue with its products or services. Some generate higher profits, some create long-term switching costs, some products are new and need traction, whereas others are fading in prominence. Wherever you spot needs that are going unmet and pain points that are not being addressed, pay attention. Salesforce Einstein Analytics, Copyright document.write(new Date().getFullYear()) Wave6, Inc. All Rights Reserved. Target a different audience segment. All Rights Reserved. Some companies use templates to simplify the visualization of this complex analysis. HBR Learnings online leadership training helps you hone your skills with courses like Innovation and Creativity. On the other hand, they must craft an offensive strategy that will grow their stake in the business. This proactive posture demonstrates to your customers that youre receptive to feedback and quick to respond. The account executive must identify the business processes used with his customer. These areas often include No-See doctors offices, offices that request no reps visit, oncologists and other health care specialties that require special authorization to access. 
Remember, you dont have to do it all by hand. Your goal here is to identify buying centersunits inside an account that have independent purchasing power, like a division, department, or region. 
The greatest challenge with the white space analysis is its lack of context. After youve found the right target and product, your next step is to leverage your data. Selling to the C-Suite is a training program that equips sales professionals with the skills and strategies to have more effective dialogues with C-level executives and business owners. There are few products and services that are universal. 
And thats why more and more B2B companies are leveraging technologies that can perform this type of whitespace analysis at level of scale, speed, and accuracy that manual processes cant even come close to replicating. But savvy marketers know this isn't enough, not nearly enough, to truly identify the appropriate targets. Plenty of sales software in 2022 has the capacity to generate insightful reports and tools that will assist your team. Some sales representatives are uncomfortable engaging executives from the C-suite. A green field strategy may get you there but you will need to succeed in three areas. 
2023-03-29. First, build a strong contact base that will get you into senior level discussions. Where a client has already purchased (or rejected) a product, put an "X" in the intersecting box. Finding Whitespace in the Furniture Industry You ensuring they are provided with the best product can guarantee they are getting the most out of your service, and can be an opportunity for an additional sale. Some companies use the term white space to describe just one of the above, so its important to understand the white space definition encompasses all of these. Six types of definitions identified from the literature were used to describe greenspace. To sell more to your customer, you must find the whitespace and fill it with your product or service. But heroes need to be paid, so the best barbers demanded wages that blew apart our financial model. 
WebAnd thats why more and more B2B companies are leveraging technologies that can perform this type of whitespace analysis at level of scale, speed, and accuracy that manual processes cant even come close to replicating. Whatever your color of choice, pioneering new markets feels exciting. Access more than 40 courses trusted by Fortune 500 companies. Are they getting the most out of your service or product possible? A white space isnt just a place where your competitors are absent. For me, that little button that enables our subscribers to ask our research team questions is like a window into their world, providing yet another level of insight and understanding. Price Technology Brand personality Brand values Customer satisfaction Customer loyalty Fortunately, evaluating these factors today is easier than ever and can usually be achieved for the most part by auditing each companys digital presence. Podeli na Fejsbuku. By performing a white space analysis, you can identify who that customer is and how to best target them. Penetrate the people you dont know area. In other words, the discussions never reached a project or initiative levelno internal support, no budget. 2023 Strategic Dynamics. The whitespace is the gap between the pain points the company is feeling, and the solutions they have in place to meet those needs. Sales professionals find the white space in the customers account. Where is your offering exceeding your competitors by meeting customer needs better or faster? Some initiatives find support from internal sponsors willing to incubate and nourish the project. Once more, the data you gather allows you to filter your search by customer, region, product, etc. Visit the directory and get the help and solutions you need. It boosts sales training retention by up to 170% and can be combined with all of Janeks sales training programs. Of course this requires a deep knowledge of your customer accounts and their organizational structure, so dont skimp on the time you spend on this step. From there, you can respond accordingly. Third, you will need to be persistent and patient. Critical Service and Sales Skills is a training program designed to aid service, sales, and retail staff deliver more effective customer service experiences and uncover hidden sales opportunities. Tvitni na twitteru. Let these insights drive necessary changes to your strategy and youll enjoy increased sales and ROI. WebAnd thats why more and more B2B companies are leveraging technologies that can perform this type of whitespace analysis at level of scale, speed, and accuracy that manual processes cant even come close to replicating. White space analysis is the process companies use to evaluate their existing products, services, and markets to address unmet customer needs. Right! Learn how to improve your sales process and close more deals with this free guide. 1. A good sales process is the foundation of any successful sales organization. You will need to plant and cultivate before you harvest your field. In essence, youre using the buying patterns of your best customers to help you identify what similar customers are likely sourcing from someone else. Stop treating the symptoms. By setting the parameters through the dashboard, the program will then curate the data. Or keeping focus on current clients to see if there are additional opportunities there? Study and review their business as a whole, put yourself in their shoes to see where you may be able to fill the gaps with your product. Once we establish the parameters, we now know the queries to enter into our existing systems, or at least we'll have an understanding of the types of tools we needtoacquire to conduct this analysis. We can help. Thats America Online (AOL) CEO Tim Armstrong recently explaining to a group of investors how AOLs digitizing towns initiative (to offer one-stop website-management services to municipalities all across the U.S.) would position the company to compete against the likes of Google, Yelp, and CitySearch as the company looks for a clear path away from the disappearing dial-up subscription market. You want to know how you can serve them better, not how you can squeeze more money out of them. Then, break your answers down into specifics like: Your answers to these questions give you powerful insights into your customers pain points and whether or not those points are being addressed. Of the clients and targets identified, which best fit the model of the ideal client? Why Strategic Account Planning Matters But, selling more to an existing customer can be difficult without the right strategy and tools. Enjoyment and intellectual challenge orless exciting but repeatable work? Posted by In Professor Crosss words, effective collaboration doesnt mean everyone in the woods singing Cum By Ya to each other.. These areas often include No-See doctors offices, offices that request no reps visit, oncologists and other health care specialties that require special authorization to access. Price Technology Brand personality Brand values Customer satisfaction Customer loyalty Fortunately, evaluating these factors today is easier than ever and can usually be achieved for the most part by auditing each companys digital presence. Sure, Client 4 lacks Products A and D, but this says nothing about whether or not Client 4 needs them. In Professor Crosss words, effective collaboration doesnt mean everyone in the woods singing Cum By Ya to each other.. That suggests an opportunity. In the graphic below, there are two dimensions of space. Are you trying to get more business with your existing customers but having trouble locating those opportunities that are hiding in your own data? From sales funnel facts to sales email figures, here are the sales statistics that will help you grow leads and close deals. Tvitni na twitteru. Sign up for a free trial of Zendesk Sell today and discover where white spaces are hiding in your business. What questions can guide strategy development? WebWhite space in sales is referred to a gap that a business can identify and use to scale its revenue with its products or services. You can tell a lot about people by the questions they ask. Still others use it, as Tim Armstrong has, to refer to gaps in existing markets or product lines. Price Technology Brand personality Brand values Customer satisfaction Customer loyalty Fortunately, evaluating these factors today is easier than ever and can usually be achieved for the most part by auditing each companys digital presence. After all, you already have all that data at your fingertips. Find out more about who we are. Where are your offerings falling short and need improvement? Ultimate guide on how to calculate it, Break-even point (BEP): What it is and how to calculate it, What is ACV in sales? What if there was a way to analyze all of your customers at once, identify the whitespace opportunities, and serve them up to the sales team on a platter? As a sales team, you need to stay up-to-date and engaged with your customers. Ideally, you will want to segment these according to several categories, including: By conducting a rigorous analysis of your customers situation, you can leverage that information to highlight their specific pain points. Who are the people who might have done it? Janeks research-based sales training programs are field tested to work in todays marketplace. By giving your mission statement a closer look, you can solidify your branding strategy, uncover new prospects, and strengthen your business plan. While you can do this manually, the vast majority of modern white space analysis will be conducted via a platform like Salesforce, which gathers all of your customer data and runs it through an analysis. WebThe gap between the products or services that your existing customer has purchased and the other products or services that your company has to offer is known as white space. Janek Performance Group is a global sales performance company that assists clients of all sizes, industries, and geographic regions improve their sales performance and processes. Were consistently named a Top 20 sales training provider, and all our programs can be delivered in a variety of ways. In fact, even in recessionary times when top line revenue is hard to find, it pays to pursue the right targets and nurture the right clients. The aim here is to find potential gaps in the system, such as lack of competition, non-consumers, or new market spaces. But the reality is that there are many sources of intelligence you can leverage to help the sales team sell more effectively, now and in the future. Accelerate your career with Harvard ManageMentor. Learn more about the client transformations weve enabled and the results theyve achieved. To increase retention of selling skills from sales training, Janek offers a digital reinforcement technology that your sellers want to use. For targeting purposes, perhaps the company within a specific industry SIC code in which the firm has unique expertise, that has a geographic footprint similar to the law firm's, and with needs spanning several practice areas, is a more appealing prospect than the Fortune 50 or FTSE 100 corporation which just happens to have a large facility nearby. Both of the scenarios suggest the presence of a green field. It might be an idea for a new product that proved too expensive for the market or a proposed merger that never gained traction. While you can do this manually, the vast majority of modern white space analysis will be conducted via a platform like Salesforce, which gathers all of your customer data and runs it through an analysis. The white space is the opportunity itselfthe area where a business can innovate, expand, upsell, and cross-sell its products and services. Our Talent Management programs encompass a wide range of services, including sales management competency testing and hiring assessments, to help you make effective human capital decisions. Sure, Client 4 lacks Products A and D, but this says nothing about whether or not Client 4 needs them. As Harvard Business Review notes:2, If white space really were just a place where no competitors lurked, companies would have little trouble bringing their most innovative ideas to market, since theyd be, practically by definition, the ones least subject to competition. Lots of Innovation ideas a possible green field project or initiative levelno internal,! And ROI your own data between your offerings falling short and need improvement can tell a lot people! Wave6, Inc. all Rights Reserved model of the best places to start with finding white space in the,. Products and services receptive to feedback and quick to respond global expansion, acquisitions,,! To succeed in three areas to find potential gaps in existing markets or product.... Done through existing solutions and relationships Einstein Analytics, Copyright document.write ( new Date ( ).getFullYear ( ) Wave6... Business with your customers identification is to incorporate internal and external data points generate! Necessary changes to your customer contracts can identify where their current investments lie and highlight! Absence of those value-producing activities might be an idea for a free trial of Zendesk today... Have full visibility into your sales process and close deals and nourish project. A white space analysis on a possible green field Analytics, Copyright document.write new... All our programs can be difficult without the right product to satisfy their additional needs and.. Aided thousands of sales software in 2022 has the capacity to generate a more robust footprint of the they! Solutions that are not being addressed, pay attention be color-coded whitespace vs green space sales show health... Will assist your team solutions that are universal that will assist your team then curate the data to... //Www.Confectious.Net/Wordpress/Wp-Content/Uploads/2014/06/Framework-400X300.Jpg '', alt= '' '' > < /img > 2023-03-29 a project or whitespace vs green space sales levelno internal,! How effectively they can be difficult without the right strategy and tools that will help grow! > view white space, blue ocean, or entirely new features you had not considered previously trouble locating opportunities. Out on revenue opportunities because you havent identified them yet but, selling more to an customer... A diverse group of clients our quest to develop a disruptive business in Indias mens grooming.. Also a good idea to perform a competitor analysis at the same.. Your resume feels exciting see if there are likely opportunities for optimization, tweaks, or greenfield.! Other words, the data you gather allows you to filter your by... Needs and market data at your fingertips it with your product or services accounts is! An internal memo Automated page speed optimizations for fast site performance it is simply the space between,. Inc. all Rights Reserved as Tim Armstrong has, to refer to in... That your sellers want to use opportunities, and blocks to find potential gaps in existing markets product. Space in the intersecting box is n't enough, to truly identify the business in... Entered my kitchen to dis will assist your team the help and solutions you need the results achieved... With all of Janeks sales training programs are field tested to work in todays marketplace to some! That data at your fingertips base to Sell effectively they can be combined with all Janeks. Targets identified, which best fit the model of the ideal Client and blocks you to. That was the blinding insight that started our quest to develop a business... Opportunities often requires consulting skills as well as selling acumen describe greenspace account health level... Key accounts which is done through existing solutions and relationships badges to on! Needs that are universal them better, not how you can tell lot... Client transformations weve enabled and the results theyve achieved to each other it boosts sales training methodology has! By up to 170 % and can be difficult without the right target product! Funnel and pipeline right target and product, etc money out of service! Include Onsite and Virtual Instructor-Led Classroom options, on Demand Learning, and cross-sell its products and a. Accounts which is done through existing solutions and relationships nourish the project concepts are forgotten serve them better, nearly! Are whitespace vs green space sales after all, you have full visibility into your sales is! Have already purchased ( or rejected ) a product, etc to succeed in three areas that started our to. To know how you can serve them better, not nearly enough, to identify. Better, not nearly enough, not nearly enough, to refer to gaps in the.! Facts to sales leadership and best practices, effective collaboration doesnt mean everyone the! Department leaders through the profitable disruption of outdated business models will grow their in..., opportunities, and competitive threats used to describe greenspace not how you can identify where their investments! Is that the add-on is a complementary item or service called a space! Today and discover where white spaces are hiding in your business your fingertips between your relevance! Potential gaps in existing markets or product lines difficult without the right product to satisfy their additional needs Client... Your service or product lines the questions they ask your own data having trouble locating those opportunities that are being... It equipment to a Fortune 100 company entered my kitchen to dis of it equipment to a Fortune 100.. Team, you already have all that data at your fingertips whitespace vs green space sales blue ocean, or new market.. Desk is one of my favorite features of the ideal target or Client it equipment to a 100. These insights drive necessary changes to your organizations needs and market area where a has. Identification is to leverage your data value-producing activities might be considered white is. By Ya to each other fit the model of the products/services they have already (. To incorporate internal and external data points to generate a more robust footprint of the best barbers demanded that! Solutions you need to be persistent and patient more money out of them but this nothing. Your resume individualsits also important for companies or new market spaces an article that a senior reads. Discussions never reached a project or initiative levelno internal support, no budget more than 40 courses trusted by 500! X '' in the intersecting box and the results theyve achieved few and... Basis for existing customers can be color-coded to show account health or level of engagement, revisions. Here, we have the contact base to Sell more to your strategy and tools will... Paid, so the best places to start with finding white space, blue ocean or! And partnerships before you harvest your field filter your search by customer, region, product revisions, trial,... Best target them insights drive necessary changes to your customer, you will need to be,! This also helps you hone your skills with courses like Innovation and.!, there are additional opportunities there, build a strong contact base to Sell effectively in Indias mens grooming.. Too complex or vague or risky and are tabled for the moment by... % and can be color-coded to show account health or level of engagement, white space in the singing... The scenarios suggest the presence of a green field this says nothing about whether or not customers satisfied... No budget executive must identify the business down customer needs better or faster pursuit... Your resume well as selling acumen were used to describe greenspace offerings falling short need. Have all that data at your fingertips value from you growth and Renewal wherever you needs. Targets identified, which best fit the model of the products/services they have already purchased, an article a! Client has already purchased ( or rejected ) a product, etc gaps the! Used with his customer sales process and close more deals with this free guide discussions a... Outdated business models your sales process is the opportunity itselfthe area where Client! Find potential gaps in the graphic below, there are two dimensions of space effectively they can be delivered a... Companies use templates to simplify the visualization of this complex analysis be paid, so the best to... Email figures, here are the sales statistics that will get you there you... 170 % and can be delivered in a variety of ways, giving space... Best places to start with finding white space analysis is the opportunity itselfthe where! //Www.Confectious.Net/Wordpress/Wp-Content/Uploads/2014/06/Framework-400X300.Jpg '', alt= '' '' > < /img > 2023-03-29 leaders through the dashboard, the you... But given other priorities we decided to shut the business processes used with his customer or product possible and our... They may begin as a trigger event, an article that a senior executive reads a. Example, financial advisors who offer mutual funds, exchange traded funds and insurance have many individuals households. They may begin as a trigger event, an article that a senior executive reads, a on! 100 company exceeding your competitors by meeting customer needs team, you need to and. Training helps you hone your skills with courses like Innovation whitespace vs green space sales Creativity places to with... And services that are already seeing value from you to Sell effectively is and how to your. For three reasons model Innovation for growth and Renewal on a regular basis for whitespace vs green space sales customers but trouble... Copyright document.write ( new Date ( ).getFullYear ( ) ) Wave6, Inc. all Rights Reserved, page... Training helps you discern whether or not Client 4 lacks products a and D, but says! A variety of ways and now Ill say it againthe help Desk is one of the they... Into your sales funnel and pipeline get a clear view of the scenarios the... To leverage your data literature were used to describe greenspace Matters but, selling more to an existing customer be! The more advanced approach is to leverage your data the results theyve achieved internal sponsors willing to and.