Posted 03 Apr 2020, Editor's Desk
Reap the benefits of White Labeling
White labeling solutions are produced by one company and rebranded and resold to the end consumer. Benefits of white labeling are that it helps to expand your network and the reseller need not bother about the cost of building his own product, instead focus on increasing his sales for the product.
Sometimes for a small business, building the customized solution from scratch can lead to failure, hence to avoid this pitfall simply opt for a white labeling solution rather than building your own. Some of the benefits of opting for white labeling are:
1. Saves Money and Time
When you opt for white labeling solutions, you don’t have to go through the entire cycle of building a new product, designing, testing and hiring new talent
Since no reinvention of the wheel is supposed to take place, a lot of cost and time is saved
The idea is to repackage the product and give it to the end-user the way he prefers to consume it
You just need to add your brand and identity to it and the product is ready to go to the market
2. Faster to reach the market
As the process is speedy, you have an advantage of reaching the end customer faster than anyone who is perhaps building a product similar to yours
You don’t miss out on specific resources and expertise which are required to focus on a solution
3. Expansion of Distribution Network
Since in white labeling you are reselling your product, it helps in organic expansion of your distribution network by adding the network of your reseller
This gives an opportunity to small businesses to compete with bigger players in the same field
4. Increase of Target Communities
When you are catering to a particular community, let’s say entrepreneurs you think of building products only around and for them. But with the help of white labeling solutions you can increase your reach & customer base.
For e.g the benefit of white labeling is that the end consumer can be a digital company, an educational institution or a small community of like-minded individuals, the idea is to increase the customer base and find many more touchpoints for the product
5. Enhance Customer Satisfaction
With white label software, you can reach the market faster. This translates into your customer getting the product faster.
The consumer enjoys this prompt service and a happy customer will result in faster revenues and a smooth churning of the product
6.Alternate Revenue streams
On one hand, e are saving cost by repackaging the same product and not hiring additional resources to build it, white labeling can help us with other revenue streams as well
For e.g. An Advertising agency doesn’t offer design as a part of its product offerings. But white labeling design, the company can now offer an additional service to its clients leading to extra revenue
Since the branding will be of the agency, the client will stick to the company and not look out for competitors
Businesses looking for new means and ways to provide more products or services & clients want to receive a bundled package of different offerings. In such a dynamic market, white labeling is the perfect solution for small businesses rather than building their own product.