How to find your brand’s whitespace opportunities

October 1, 2024

Brands trying to increase their share of wallet often start at the end of the process. Money is spent on concept testing and ads, but in many cases they would do better off by taking one step back. “How is their brand currently perceived?”. “What do consumers think of the competition?”. And one of the most important questions “Where are the whitespace opportunities in the category”? With this knowledge, they can pinpoint the areas for growth and differentiate their messaging from their rivals. Ultimately this means they can create content that truly resonates with consumer needs.

Understanding whitespace opportunities

A whitespace opportunity refers to an untapped or unmet need in the market that presents a potential area for differentiation. It’s where a brand can carve out a distinct position and offer something unique and valuable to customers that competitors are not currently providing. In essence, whitespace opportunities represent fertile ground for growth and expansion.

With fierce competition and constantly evolving customer expectations, identifying whitespace opportunities has become increasingly crucial for marketers. Brands that can successfully identify and capitalise on these opportunities gain a competitive edge, drive innovation, and fuel long-term growth.

Why whitespace opportunities matter

In a crowded and commoditized market, simply trying to outperform competitors on existing dimensions is no longer sufficient. As the adage goes, “If you try to be the best at everything, you become the best at nothing.” Instead, brands must strive to be unique and differentiate themselves from the competition.

Whitespace opportunities offer a strategic pathway for achieving this differentiation. By identifying areas where customer needs are unmet or underserved, brands can tailor their products, services, and in particular their messaging to effectively address these needs. This not only enhances customer satisfaction and loyalty but also enables brands to command premium pricing and capture market share.

Moreover, whitespace opportunities drive innovation and propel brands forward in dynamic and evolving markets. By continually seeking out new areas for growth and expansion, brands can stay ahead of the curve, anticipate market trends, and maintain relevance with customers.

Practical strategies for finding whitespace

Now that we’ve established the importance of whitespace opportunities, let’s delve into practical strategies for uncovering them:

Leverage attribution mapping

Attribution mapping is a powerful technique for identifying your brand’s most profitable dimensions and areas of differentiation. By mapping key attributes of your market and competitors, you can pinpoint whitespace opportunities that align with your brand’s strengths and values.

Refine your brand positioning

Take a close look at your brand’s positioning and messaging to ensure they align with whitespace opportunities in the market. Consider how you can differentiate your brand from competitors by highlighting unique value propositions and addressing unmet customer needs.

Innovate and iterate

Don’t be afraid to innovate and iterate on your products, services, and business models to capitalise on whitespace opportunities. Continuously seek feedback from customers, test new ideas, and refine your offerings based on market demand and trends.

Brand Touch and whitespace

Our Brand Touch solution can help you do all of this by measuring the true emotional position of your brand, and how this relates to drivers within your category. 120 character traits and 8 personality segments are used to visualise your position in a simple, concrete, and actionable way. By measuring your brand via human characteristics, you can understand your exactly where the whitespace opportunities lie.

Finding whitespace in the streaming industry

Our client was a well-known streaming provider in the Nordics, but was entering a new market where they had little name recognition. The top 3 streamers in the market were all fighting over owning the “Entertainer” profile with comms referencing an “emotional” and “creative” identity. There was no space for our client to compete here.

We identified an unmet need for a brand to own the Influencer/ Entrepreneur personalities that wasn’t being addressed in the market. We concluded that consumers would be receptive to a streamer that was proud of both its high-quality content and, as a result, its premium prices. The brand’s Nordic heritage was also a key to exuding the trust and reliability that all streamers were expected to have in the market.

By responding to unmet consumer positioning needs as a fun, self-confident, playfully arrogant “new kid on the block”, our client entered the new market with a bang, immediately standing out in a crowded field.

In conclusion, whitespace opportunities represent untapped potential for brands to differentiate themselves, drive innovation, and achieve sustainable growth. By adopting a strategic approach to identifying and exploiting these opportunities, brands can position themselves for long-term success. So, embrace the challenge, explore the possibilities, and unlock the full potential of your brand’s whitespace opportunities.