Opportunities

Uncover market opportunities

Find new opportunities and meet unmet user needs to strengthen your market position.

Understand User Needs

Spot new opportunities by understanding what users want. Use these insights to refine your strategies. 

Identify Strategic Entry Points

Find unmet needs in your market and discover where your company can step in and succeed. 

Enhance Strategic Planning

User insights to guide your strategic planning and make informed decisions to boost your market position.

KPIs TO MEASURE

Opportunity Identification Rate

Track how often new market opportunities are found by understanding user needs and preferences.

User Satisfaction Improvement

Measure how much user satisfaction improves as you better meet their needs and preferences.

Market Penetration Rate

Assess your success in entering new markets based on identified user needs and strategic efforts.

Strategic Implementation Rate

Evaluate how effectively you incorporate identified opportunities and user needs into your strategic plans and actions.

Case Study

Opportunities

We aimed to increase the Opportunity Identification Rate for Getup, an online clothing brand specializing in formal wear, by establishing and prioritizing a list of feature opportunities. The challenge was to identify and implement features that would resonate with users and address their specific shopping concerns and preferences.

How to Identify and Validate Opportunities

1

Download the Opportunities Template

Begin by downloading the Opportunities template from your preferred platform

2

Define Your Research Objectives and Methods

Clearly articulate what you aim to discover about potential market opportunities.

Select the most appropriate research methods for gathering data on opportunities.

3

Design and Analyze Your Questionnaire

Gather data on customer behavior, preferences, and market trends.

Synthesize your data to uncover patterns and insights related to potential opportunities.

4

Assess Feasibility, Make Data-Drive Decisions

Evaluate the technical feasibility and business impact of the proposed opportunities.

Provide actionable recommendations based on your research and analysis.

5

Implement, Monitor, and Measure

Track the implementation and success of the validated opportunities.

Business questions that can be addressed with user needs analysis

Here are some common business questions product and marketing leaders ask that can be addressed with brand tracking:


1.
Where are the gaps in user needs that we can fulfill?
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To find gaps in user needs that you can fulfill, start by analyzing user feedback through unmoderated surveys to uncover unmet needs quickly. Helio’s Opportunity Index highlights potential opportunities by considering business goals, user needs, and technical feasibility, giving you a comprehensive understanding of each opportunity.

For example, Banko used the Opportunity Index to analyze market research, customer feedback, and team insights. They discovered that users preferred feature tours, bill reminders, and the ability to rate experiences, aligning with their business and technical needs.

Systematically identifying and prioritizing these opportunities ensures your development efforts match market demands. This method helps you address current gaps and positions you to meet future user expectations, fostering long-term customer loyalty and business growth.

Opportunity Index for a banking company



2.
What are our users’ unmet needs?
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Helio survey panels are essential to uncover unmet user needs, Conducting unmoderated surveys lets you quickly gather feedback and identify gaps before developing solutions. These insights provide a clear direction for understanding user expectations and challenges.

Helio’s Likert questions are valuable for this process. They help reveal user preferences and issues by asking participants about potential features. For example, a survey on ID verification can show what users prefer and their pain points, making it easier to prioritize opportunities.

You can pinpoint the greatest needs by comparing responses to these Likert questions. This approach addresses current gaps and prepares you to meet future user expectations. Focusing on user feedback and market research enhances user satisfaction and supports effective growth before you start creating.

Satisfied likert scale question



3.
How can we differentiate ourselves by addressing user needs?
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To stand out, address user needs, develop solutions that target these needs, and gather quick user feedback. Tools like Helio help you prioritize opportunities by considering business goals, technology, and user needs.

Banko’s example shows how a single score can help prioritize opportunities by ensuring all aspects are considered. They identified user desires for features like bill reminders and streamlined onboarding paths, aligning with user and business needs.

Focusing on user satisfaction and addressing specific gaps can help you differentiate from competitors. This strategy helps meet current demands and positions you to anticipate and fulfill future user expectations, enhancing user loyalty and business growth.

Opportunity Index for a banking company

 



4.
What market opportunities are emerging based on user trends?
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Stay ahead by using scenario planning to anticipate changes in user needs and market conditions. This method helps you develop proactive strategies that align with future demands.

For instance, Skin Savvy used scenario planning to understand their customers’ preferences. Their action map showed that customers preferred using a website over an app for key actions like signing up, browsing articles, and saving content.

Helio can assist by creating an action map to see what platforms your customers prefer. This insight allows you to tailor your strategies to effectively meet user needs, keeping you competitive and responsive to market changes. By focusing on scenario planning, you can uncover new opportunities and better prepare for evolving user trends.

Action Mapping for a facial company


We can receive feedback and connect with our Providers on high-priority initiatives to the business before executing.

Avatar of the person that wrote the post

Angeliki King, Hydrafacial  

Testing Template Examples

Whitespace Opportunities Test Template

Test outcomes:

  • Discover what challenges have not yet been solved for your audience
  • Learn how engaged participants are with your new concepts
  • Establish user habits to account for their needs
Use Template

FAQs

What is user needs analysis for market opportunities?
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User needs analysis involves evaluating users’ specific needs and preferences to uncover market opportunities. This process helps businesses identify where to fulfill unmet needs and better meet user expectations.


Why is identifying user needs important?
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Identifying user needs is crucial because it enables businesses to find new growth areas, stay ahead of competitors, and adapt to changing user preferences. It helps in making informed strategic decisions and maintaining a competitive edge.


What methods are commonly used in user needs analysis?
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Common methods include market surveys, which gather data on user preferences and needs; user interviews, which gain qualitative insights through detailed conversations with users; needs assessments, which identify specific unmet needs; and feedback analysis, which analyzes responses to identify patterns and preferences.


How does user needs analysis differ from other types of research?
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User needs analysis specifically focuses on understanding user needs and identifying market opportunities based on those needs. In contrast, other research types might address broader issues, such as overall market trends or customer satisfaction.


What are some challenges associated with user needs analysis?
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Challenges include gathering comprehensive and accurate data, ensuring insights reflect the target market, interpreting diverse data sources, and integrating findings into strategic planning without causing disruptions. 


How can businesses act on the insights gained from user needs analysis?
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Businesses can use insights to refine their strategies, develop new products or services that meet unmet needs, improve their market positioning, and proactively respond to user trends.


What is the impact of user needs analysis on market positioning?
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Effective user needs analysis leads to targeted strategies that better meet user needs, improved market positioning by addressing unmet needs, and enhanced ability to anticipate and respond to changes in user behavior.


How do businesses measure the success of strategies informed by user needs analysis?
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Success can be measured through KPIs such as opportunity identification rate, user satisfaction improvement, market penetration rate, and strategic implementation rate, which indicate the effectiveness of integrating insights into strategic planning and execution.