Upselling is a sales technique where reps pitch additional products or premium upgrades to service. Let’s take a closer look at what that means. It makes a lot more sense (and cents) to seek out opportunities to upsell and cross-sell to your current customers. On average, 50 percent of existing customers are more likely to purchase again and to spend 31 percent more when they do so. More importantly, it costs more than five times as much to acquire a new customer as it does to blow the dust off your current customer list. After all, you already have all that data at your fingertips. It’s a good idea to start your analysis with your existing customer base. Improved customer relations and retention.Increased opportunities for upselling and cross-selling.Here are five key benefits you’ll glean from your analysis: Benefits of white space analysisĪnalyzing white space improves your sales process, strengthens customer relations, and grows your business. When you’re ready to scale your business, white space analysis reveals your most worthwhile growth opportunities. Performing a white space analysis is a critical step in discovering your company’s weak spots. You can think of white space as a place of unfilled potential-a blank slate or canvas that is waiting to be colored in with unarticulated customer needs and business opportunities. The “white space” is the opportunity itself-the area where a business can innovate, expand, upsell, and cross-sell its products and services. White space analysis is the process companies use to evaluate their existing products, services, and markets to address unmet customer needs. In this piece, we’ll take you through the benefits and steps of analyzing white space so that you can leverage this valuable technique to improve your business. White space allows companies to increase the volume and velocity of their sales while further building their customer relationships. When used correctly, white spaces provide opportunities for companies to revamp their products and services. White space in business, however, doesn’t have to be quite so nerve-wracking. The cursor blinking at the top of that empty page inspires sweaty palms, a dry throat, and unstoppable writer’s block. Anyone who’s left an end-of-semester essay until the night before it’s due has faced the horror of white space.

White Space by G.S. Wolfe