Marketing technology tools play a vital role in whitespace digital marketing in the APAC region to uncover product improvements and new audiences.
Most companies promote their products and services based on the majority of consumer needs and demands and existing markets. But how about the minority and the underserved? That’s when whitespace marketing technology comes into play.
Marketing technology can help implement an effective whitespace marketing campaign.
Here we share an overview of of what whitespace marketing is and the marketing tools you can use for this purpose.
What is Whitespace Marketing?
According to Idris Mootee of Innovations Management, whitespace refers to exploring the businesses or under-served markets outside their core. By creating innovation opportunities, white space marketing uncovers unarticulated and unmet needs.
Whitespace or blank, negative space tend to provoke fear because of the uncertainties that may require different business models and extensive system design and support. However, companies are more empowered and adventurous now because of marketing technology that can help them identify new opportunities in the market.
White space marketing helps identify opportunities for the following:
- Companies thinking of exiting the business
- Companies looking for high growth opportunities
- Companies wanting to explore strategic diversification
Benefits of Whitespace Marketing
Whitespace marketing aims to:
- Uncover opportunities that not so obvious
- Defining potential gaps and barriers in existing markets
- Identify new markets
- Map incremental innovation (relating to products or services)
- New source of economic and customer values
Digital Marketing Tools for Whitespace Marketing
There’s a plethora of marketing tools companies can use for whitespace marketing, which include the following:
- Social Media: With social media analytics, marketers can reap fruitful rewards using different marketing strategies in social media networks.
- Artificial Intelligence: AI involves developing software systems that interpret data like humans do with the ability to perform complex analytical data at relatively fast speed.
- Cloud Technology: Storing data via cloud technology provides unlimited storage through the web. Hence, cloud technology makes external drives and hardware storage systems obsolete.
- Big Data Analytics: This marketing tool involves analyzing high-volume data lightning fast with the utilization of hybrid software systems.
- Agile Technology: This technological approach was derived from the software development process of prioritizing user needs. This technology involves continuous goal-setting and testing based on emerging user needs, wherein frequent changes take place.
- Over-the-top Media Service: OTT refers to media service offered to viewers through the Internet, bypassing broadcast, cable, and satellite television (TV) platforms.
- TV Whitespace Technology: The TV whitespace technology refers to utilizing the unused TV channels to provide broadband Internet access with surrounding TV channels, opening many doors of opportunities for companies to explore new markets. The Asia Pacific is included in the recent TV whitespace technology market report, along with North America, South America, Europe, Middle East, and Africa.
How APAC leaders use Martech tools in Whitespace
APAC leaders use marketing technology tools in whitespace marketing in so many ways.
In an interview with Martin Frech, CEO and Head of eCommerce of DKSH, a leading market expansion services provider, about the company’s plans for the future include the use of marketing tools in the whitespace, he said that PepsiCo was one of the company’s biggest clients and they launched an e-retail campaign.
DKSH have expanded their marketing service suite, driving traffic from Google and social media networks like Facebook and Instagram, as well as affiliates such as ShopBack. The company observed increased interest in Line shops, Facebook Stores, and other new social commerce channels, where they can gain access to consumer shopping behavior data and provide additional sales benefits.
DKSH also sees significant whitespace in healthcare, finding new ways to work with clinics, hospitals, and other healthcare providers geared towards making healthcare more accessible to the public.
Market research analysis is also a crucial aspect of whitespace marketing in APAC. This marketing tool is now being offered and available via digital report requests and downloads. Business owners can download these reports for free by signing up and some come with a fee.
For instance, Laura Wood, ResearchAndMarkets Senior Press Manager, said in a recent report that there was a slight decline in growth of hygiene market sales in APAC in 2020. Coronavirus 2019 did not cause a huge impact on the sale of nappies, pants, and diapers in the region.
The report identifies the opportunity zones or whitespaces through analyzing leading brands and companies, assessing the role of private label, and offering strategic analysis of key factors that influence the market.
The combination of marketing technology and whitespace marketing can be a powerful tool to uncover new business opportunities. Of course, businesses are able to reach more audiences, especially the underserved markets. With market research and other digital tools, companies can explore new markets and find more opportunities for strategic business expansion.