Blog Denave

04th Dec, 2017

Discovering the Whitespace – Moving Beyond the Business Blackhole

The ‘unknown’ has always had an element of intrigue attached to it. The same holds true even when we talk about the same in realm of businesses. The only difference is the dire need which is attached to this ‘unknown’ or ‘untapped’ when it starts impacting sales objectives.

In sales terminology, “Whitespace” literally means the gaps in the prospective customer database that have not been previously tapped or discovered. No doubt that whitespace discovery is like a gateway to enormous growth, progression and reach expansion for sales organisations and eventually leads to an increased size of the overall pie.

Sales arena minus the whitespace discovery can be viewed as a single pie catering to all the industry players. Just imagine the situation (rather the misery) that everyone is gunning after the same finite set of customer database. The chaos and the limited share which each player will get eventually can thus be imagined.

The Big Q – How to ‘Discover’ the Whitespace?

Owing to the volume and time-space which whitespace discovery takes, manual digging would make us feel like living in a stone age, hence comes into picture the extensive use of technology for tapping the untapped. However, discovering this whitespace is a niche expertise that requires a methodological step-by-step approach.

  • It starts with data mining and big data consolidation from various potential sources through an extensive defined market research, an amalgamation of both online as well as offline mediums.
  • The next crucial step is to leverage technology in order to assimilate the volumes of information, removing noise and enriching the data.
  • Then it is about making sense of the data and pulling out insights through analytics so as to define the output potential.
  • Finally, predictive modeling comes into play in order to foresee the future trend of the data, define the lead nurturing bucket and ensure dynamic decision-making process.

What will happen NEXT?

Some natural and cumulative progression of gaining access to the untapped prospective customer database:

  • Enhanced sales force productivity
  • Greater average sales price
  • In due course, maximized revenue generation
  • Quick analytic deductions from the demographic data, research and current trends

To put it in a nutshell, the impeccable execution which is enabled by whitespace database discovery provides a solid base to execute management plans; making it a vital element to drive the future sales enablement model.

A quick note to tag to the desk – Not only assimilating data, but also acting on it by deriving useful inference out of it for achieving long term consumer growth and success – That is what goes into the making of a BEST SALES TEAM.

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