Overview

Whitespaces are gaps in a technology space with little or no-patenting activity that can be exploited identify the right and high growth opportunities, untapped by competitors. Using the ‘white space’, where there’s scope for innovation, to broaden the scope of your patents can greatly enhance your existing patent portfolio . White space analysis is one of the key method methods for strategic innovation and usually follows preliminary patent landscaping.We make this complex process of addressing the unknown much simplex through our 3D matrix analysis, where we dig deep into the existing patents and using different strategies we find areas for further R&D, new product development, category innovation and available markets

Understanding who is patenting technology similar to yours allows you to approximate shifts in the market and underlying trends. Identifying and analyzing this white space in the patent landscape allows businesses to bring a technology to market first—a distinct competitive advantage

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White space analysis process

Advantage of Internally-focused

When looking at your company's strengths and capabilities, it is important to identify the opportunities that are available as well any potential threats. This type white space mapping helps companies pursue new products in more markets with less risk because they're aware of what obstacles may be holding them back before investing time or capital into an idea. A strategic innovation consulting can boost up your business.

Future Focused Perspective

This method of white space analysis involves applying strategic foresight to identify potential White Spaces that may evolve in the future so that the company is ready to leverage them. Having a future-focused White Space Analysis helps firm get insights from strategic foresight exercises, products services and can have an impact on the development of all their strategies of growth. This key account is powerful to understand. The process usually takes place through workshops, brainstorming sessions, and hours of research. A lot of intuition is required in this method of white space mapping. Approach to white space mapping could identify areas that require designing around competitors' intellectual property or entering licensing agreements

Advantage of Externally-focused

Externally-focused white space mapping looks outwards at the market and determines which products/services/solutions (new or old) are dominating in order to identify a gap. These gaps may include niche audience groups or nonconsumers, but most often it's an underserved customer base with unmet needs that is being targeted for expansion by this strategy.

The most common ways for businesses to identify their white Space

Most fundamental aspect of any business. Is to build the Account Landscape.The resulting matrix is a simple and yet powerful tool to understand the Key Account.

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Get To Know Your Existing Customers

Get To Know Your Existing Customers

Your first task in attempting to find a white space opportunity is to gain a clear understanding of your customers and clients’ current investment in your company’s goods or services. In which case, the products or services they’ve purchased previously are the first data points to consider. White space analysis helps you to identify new sales opportunities within an existing customer account. Define the audience you want to sell to It's unlikely that your product or service offering, or your competitors will able to cater to all audiences Ideally, you will want to segment these according to several categories, including: Opportunity type Record type Industry Account type Product family Time period By conducting a rigorous analysis of your current and existing customer situation, you can leverage that information to highlight their specific pain points. Armed with these insights, you can then propose solutions that fill the gap between what they’ve already paid for and what additional utility your company could be providing them.

Benefits of White Space Analysis

A better understanding of your buyer

Research is the key to unlocking customer needs. Armed with this knowledge, you can tailor your sales pitch and make it more attention-grabbing for potential buyers who might need what they offer.

Identify new customers & segments

The white space analysis in your market are often “needs” you may not have previously considered. This untapped potential makes it possible to expand on an existing offering, or even branch out into new mediums without worry that there won't be demand for what you're selling.

Help make informed decisions

Who to target
What value props you should highlight
Whether your white space solution is viable
How much it might cost to expand into those gaps

Inform your sales approach

You may want to take a calculated risk and sell in an unexpected way. Your analysis can help you settle on the best sales approach, whether it’s an emotional soft-sell or hard-hitting hard sell.White space is essentially a gap that a business can use to scale its revenue with its products.For sales professionals, white space analysis helps boost topline revenue growth

Helping you build a smarter IP strategy

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