Are you just scratching the surface when it comes to business opportunities from your current clients or customers? If you haven’t yet used a white space matrix to identify and unlock untapped revenue, it’s time to get started!
If you’re like many salespeople – and companies – your clients may only be using one or two of your products or services even though you offer so much more. The problem? They don’t know about everything you have, and often you or your team isn’t asking them what they need.
That’s where the white space matrix comes in.
What Is the White Space Matrix?
The white space matrix is essentially a strategic spreadsheet that lays out who’s buying what, as well as what they’re not buying (yet).
It’s a simple visual tool that helps you spot untapped revenue opportunities within your existing client base so that, much like share-of-the-wallet conversations, you can determine ways to grow without chasing brand new leads.
Why Most Businesses Leave Money on the Table
Here’s a common scenario: a company provides payroll services to a client, but that same client doesn’t know the company also offers employee benefits consulting or tax strategy. The sales team never mentioned it, and the client never asked.
Multiply that by dozens (or even hundreds) of clients, and that lost revenue adds up fast.
This isn’t just about selling more; it’s about helping more. Most clients appreciate consolidating services with someone they already trust. However, they won’t do it unless you start the conversation.
How to Build Your Own White Space Matrix
You can create a white space matrix in Excel, Google Sheets or even with CRM software. Here’s a simple guide to get you started:
- List all your current clients down the left-hand side
- List all your major product/service categories across the top
- Check off what each client currently uses
- Gray out any products or services that aren’t relevant for each client
- Highlight the blank cells—these are your white space opportunities
You now can visually identify gaps and start strategic conversations with your clients or customers to find out where additional opportunities may lie. Use this tool in sales team meetings, account strategy sessions or quarterly reviews to get everyone on the same page as far as staying focused on growth opportunities.
👉 Pro Tip: Already tracking what your clients are spending on your products or services? Link this analysis to your share-of-the-wallet strategy as they can often work hand in hand. Not sure of the difference? Think of share of wallet as optimizing current offerings, while white space identifies opportunities for additional offerings.
Turning White Space into Revenue
The matrix is only the beginning. It’s what you do with it that counts. Consider:
- Developing tailored campaigns based on your white space insights
- Training your team on how to bring up additional services in a natural, helpful way
- Using client success stories as proof of success
- Tracking conversions from white space efforts over time
The goal isn’t to be pushy but to help and serve more completely instead.
Small Shifts That Spark Big Conversations
You don’t need a new product to grow your revenue. You just need new questions. Here are a few easy phrases to start a white space conversation with your clients or customers:
- “Just out of curiosity, where are you currently getting your ___ from?”
- “How are you making sure your ___ is up to date?”
- “A lot of my other clients say ___ is a challenge for them. Is this something you experience as well?”
- “Would it be helpful if we could also help with ___?”
Don’t think of asking these questions as a sales tactic. They allow you to show awareness and care, and they offer you more of an opportunity to help, not sell.
BDU’S Real-World Examples of White Space in Action
Example One: Drywall Supplier
We previously worked with a company that sold drywall. They also carried all the tools necessary to install it. The problem they faced, however, was that many of their customers were buying their tools elsewhere because they didn’t know they could get everything in one place.
The solution? We encouraged them to ask one simple question:
“Just out of curiosity, where do you usually get your drywall tools?”
This question then sparked cross-sell conversations, leading to opportunities for improved customer convenience and ultimately increased average order size.
Example Two: Big Accounting and Consulting Firm
A large firm we worked with offered a variety of services, including tax, audit, insurance, employee benefits and consulting. Yet many of their clients were only using one of those services.
We worked with their firm to start gentle exploratory conversations. For example:
“A lot of my other clients are concerned about rising insurance premiums—how are you currently handling that?”
This approach uncovered new service needs without a hard sales pitch. The result: deeper client relationships and higher lifetime value.
White Space Matrix FAQs
Q: Isn’t this just upselling? Won’t clients be annoyed?
A: Not if you approach it with curiosity and helpful intent. Clients often appreciate hearing about solutions they didn’t know you offered, especially if they solve real problems.
Q: What if we don’t have a large product or service mix?
A: Even if you only have 3–4 services, many clients may still be using just one. The white space matrix helps you become intentional and consistent about increasing value per client.
Q: Should we include old or inactive clients?
A: You absolutely can! That’s a great way to spot re-engagement opportunities. A past client who only used one service might be open to another one now, especially if you show them what’s changed.
Final Thoughts
The white space matrix helps you uncover what’s been hiding in plain sight: the potential to increase revenue through your existing clients. You’ve already earned their trust. Now, it’s time to see how else you can support them and grow your business in the process.
Start by building your matrix and reviewing your top 10 clients. Then, work on asking curious, helpful questions. Finally, watch your client relationships – and your revenue – grow.
👉 Want to dig even deeper? Don’t forget to check out our related post on maximizing share of the wallet for more on getting the most from your client relationships!
And if you need additional guidance, we’re here to help!
Just leave your information below and we’ll set up a time to talk.
