Being an entrepreneur is not an easy task. Especially in a start-up world where the competition is fierce and the market is dynamic! From taking care of multiple tasks at the same time to managing your products, marketing, brand reputation, and customer service, it is hard to do everything on your own.
For an entrepreneur who is facing a business challenge, doing everything on their own could be the first reflex. However, keeping a considerable pace with the market trends that are forever evolving could be an overwhelming experience. And, in many cases building a customized solution right from the start has proved to be a disaster.
According to a study conducted by MIT Sloan Management Review and Deloitte found that ‘around 23% of the marketers needed to develop a stronger talent model. By hiring a full team with a white label model, they were able to skip the problems of hiring in-house and recruiting and straight away built a team of highly qualified experts working for your brand’.
White label business solutions are a gateway into the business world. It helps you to scale your business and sell your products at no extra cost and without pre-planning, training, hiring, and implementation work.
So what exactly is a White Label Solution?
A White Label Solution is a generic product that is created by one company but marketed by another under their log and branding.
If you think only budding entrepreneurs are using White Label Marketing then let us tell you a secret, which is no more a secret. Do you know that around 84% of Walmart customers purchase private label products?
With lots of products on the shelf do you think that all the products are manufactured by Walmart? Not entirely! There are many products that Walmart uses under its name by using its branding and logo.
Essentially, a White Label Solution involves a manufacturer who sells an unbranded piece of product or service to a reseller who then places their logo and sells it to their business clients. Hence, in a white-label market, the manufacturer and seller are two separate entities that work for mutual benefit.
It is not only limited to small business owners and large enterprises, but many college and institutions are also making the most of this service with White label content creation.
How does White Label Solutions come into existence?
This concept was drawn from the fashion industry where retailers acquired mass-produced goods from the manufacturers and sewed their branding on the product. What did they get? A product that was similar to private label brands. However, at a competitive price point!
Advantages of White Labelling
Naturally, the foremost benefit of white labelling is its cost-saving aspect. However, there are plenty of other benefits that white labelling that every entrepreneur, solopreneur, or business owner must consider:
1. It saves time- Time is money! And since businesses do not have to build or develop solutions from the start by putting their own time and resources, White Labelling saves up a lot of time, financial and human resources.
2. No Infrastructure Needed- As the resellers can purchase the product from the manufacturer and start reselling it under their branding, they do not need an infrastructure to set up a manufacturing unit.
3. Happy Customers- With quick customizations and quicker time to market the products at the reseller`s end, you will have more happy & satisfied customers.
4. Allows you to focus on your business- More often than not, the companies hoping to build a solution find themselves in a precinct that does not fall under their expertise. Pre-packaged solutions with White Labelling that are prepared by experts can help businesses to reach their goals more efficiently.
White Label Solutions can help businesses who are trying to establish themselves in the market to utilize their unique branding to offer a range of products and services without having to incur money in resources, infrastructure, and technology.
By using white labelling entrepreneurs can give their customers a quick solution to their immediate problems. They can also focus on the core competencies of their business, and move towards building a brand and greater conversion rates.
Want to know how you can grow your business with White Label Marketing? Click here to watch this video: https://www.youtube.com/watch?v=cpSf2e-k7CM.