If you’re looking for a way to stand out from the competition and earn your customers’ loyalty as well as their business, there are three words to keep in mind: white label partner. Here’s why.
Thanks to the Internet, customers now have more control than ever over the buying-selling process. They are more informed and increasingly savvy. They can easily access just about any information regarding products and services over the Internet in real time, from specifications to customer reviews to case studies.
Customer Expectations Are Rising
Customers want solutions that meet their specific needs — and they want them as soon as possible.
Customers today demand more from their vendors. They expect them to be strategic partners who can help them overcome challenges and solve problems. One-size-fits-all solutions don’t cut it. Customers want solutions that meet their specific needs — and they want them as soon as possible. If you can’t deliver what they need, right away, these customers are going to move on to another company that can.
So what do you do if your customer needs something you don’t offer? You could just say “sorry,” and let the customer move on to another supplier for that particular product or service. Your customer may stick with you because of an affinity for the specific product or service you’ve been providing or perhaps because of a personal relationship — but not for long. It’s not just a better deal that will lure them away. Today’s customers want great experiences. Being told you can’t meet their full range of needs dilutes your value and encourages them to move on to vendors that can offer more.
The Risks Involved in Build-It-Yourself
Another option would be to work quickly to develop a solution that would meet the customer’s needs. However, that could take a lot of time. It also won’t be cheap. You may not have the manpower, in-house expertise or budget. You will likely end-up reinventing the wheel, making mistakes that others have already made. Your time to market will be slow because you’ll need to spend time increasing your learning curve outside your core competency. Meanwhile, your customer will get restless and be more likely to move on to a vendor that offers a solution right now.
The White Label Option
That’s where another option — being a white label partner — comes in. “White label” refers to a fully supported product or service that’s made by one company but sold by another. These products and services are not branded. Instead, as the reseller of the product, you customize the products or services with your own brand, logo and identity, and sell them as your own. Your prospects and customers associate the product with you. Meanwhile, the manufacturer focuses on developing the most optimal products possible without having to deal with issues such as product marketing. You’re able to deliver the product your customers want without the huge investment or the hassles. That makes for happy customers that see you as a strategic partner who knows what they need and can deliver.
Due Diligence Required
Of course, not any white label product — or any white label product provider — will do. It’s important to go with a company that has a proven, successful partner program. Here are some things to consider:
Make sure the company has a track record of enabling channel partners to successfully sell, deliver, manage, and invoice for the specific products and services with high profit-per-partner.
Look into the company’s training and onboarding program. What kind of tools and support are provided? Is follow-up training available? How about marketing support, sales training and technical training?
How flexible are the products and services the company white labels? Can they be customized to meet your needs and the needs of your customers and prospects?
Does the company continue to enhance its products, develop new products and services, implement new features and/or technologies and otherwise stay at the forefront of the industry?
What’s the quality of the products and services the company white labels? Will your company be proud to put your label on them?
A Multitude of Benefits
Being a white label partner also offers a number of other benefits. There are customers out there that want an array of specific products and services. As a white label partner, you can deliver what they want, while extending your market reach and even entering new markets — all with minimal investment. So whether you’re going after new customers or trying to keep your current customers happy by delivering the products and services they want, applying your brand to a strong, reliable white label product is a smart way to achieve success.