How to save money and time on product development? How to satisfy your customers and promote your brand? Presented requests correspond to partner business solution White Label (WL). In this article, we will find out who it suits, its advantages, and the best solutions.
Features of the White-Label model and how it works
WL refers to a model of cooperation when one company produces a product, and the other is engaged in selling it under its trademark. The term was introduced into the business from music: when records were sent to radio stations and stores without branding. Then they applied the design based on the listeners’ reactions to the tracks.
Now, the WL model has been successfully implemented in various online and offline businesses. It is used for:
- making goods that are sold in chain stores under their brand name;
- issuing payment cards, which large banking institutions adapt cards to small ones;
- creating coupons or a cashback system;
- providing services via virtual resources.
In each situation, a WL product/service is purchased without branding. The customer designs the product in their own individual style to increase their brand awareness among customers. In the end, customers get a ready-made solution, while you cannot influence or control the level of quality. That’s why you need to choose a reliable partner.
Advantages of using the White Label model
Many modern companies choose the White-Label solution https://www.forbes.com/sites/theyec/2014/06/03/why-a-white-label-solution-is-easier-than-building-your-own/?sh=8bb0dc9dd9e0. This principle of cooperation has proven to be highly effective in comparison with the independent creation of the product. The main advantages of WL include:
- Financial and time savings. The creation of a new product requires using such resources: finances, time, and human labor. In particular, this applies to those situations where the project is beyond your knowledge, so you will have to spend money on development. In this situation, a White-Label solution will be the best option.
- Passive income. If you choose the right partner and use effective marketing, a White-Label solution will bring good money.
- Increased loyalty. Determine which products and services your customers will like and implement them. Don’t let your target audience go to your competitors or wait too long to develop a customer satisfaction solution. By satisfying your customers, you increase the value of your brand.
- Getting your site to the top. The new product will increase the traffic of the online resource due to the resource’s position in the first lines of search engines. Proper SEO will attract a large number of users to the site and make the site more popular.
- Thoughtful design. WL-solution is made in an individual design and is most often created in the form of a personal page with an appropriate domain. This is a better solution than a bright banner that covers useful content and causes visitors only irritation.
WL is the optimal solution for almost any company, and this is particularly true for financial tasks. In-house development has long been a thing of the past. Many companies are choosing advanced solutions.
The best white-label solution for companies for financial purposes
White-Label solution is common in the financial sector. You can now find many offerings online for a variety of companies. The best solution includes the Wallester system, and all components are combined in a simple interface in one platform.
With this system https://wallester.com/card-payment-platform all products can be managed in one place. You do not have to worry about many systems and logins to achieve your goal. You can operate from one central point from which all options and parameters related to the Wallester product suite can be accessed. The system presented is equipped with all the tools you need to meet your financial management needs. There are several components within the platform:
- Card Issuance. You can make your brand more recognizable with Wallester’s bank card issuance product. Virtual and physical cards can be issued that meet global security requirements while providing optimal functionality.
- Comfortable management. Cards can be managed using the back office platform. Access to issued cards is maintained at all times.
The White-Label solution from the Wallester platform is a great financial solution for many modern companies, regardless of the business specific. Many firms have already taken a bold step forward in card issuance by branding bank cards, apps, and platforms with their unique brand. With today’s Wallester platform, you don’t have to be bothered with complicated tasks because it takes care of everything. The client can safely use his brand and provide unique and high-quality products to end users. With Wallester’s platform, various financial transactions can be tracked and managed.
Who is suited for a White Label solution?
Many companies wonder what kind of companies are suited for WL. The answer is simple: everyone, without exception, from virtual stores and travel agencies to blogs. At the same time, the site must necessarily meet several requirements:
- The site theme should be fully or partially suitable for a partner of the WL. It is worth noting that, in this situation, there are exceptions: information portals with a variety of CA. You can place special codes and cash back, taking into account the diverse interests of users.
- the topic corresponds to the requirements and capabilities of the target audience. In this situation, it is best to partner with companies that offer products. The more precisely you hit the demands of the target audience, the more likely customers will come back and buy from you again.
To implement a white label solution, you should take care of a few nuances. The first thing is to prepare the resource. First, you have to expand your audience, fill pages with useful content and work on SEO. The more users on the site, the higher it ranks in the search engine, and the more likely White Label will bring profits.
It is also worth working on promotion. It is worth finding the optimal place for a showcase like a separate section or among the thematic pages. You also need to tell users about the new solution: give links to the main page and other content.
White Label is a common type of collaboration for a variety of brands. This business model has many positive characteristics:
- increased product line;
- cost savings;
- increase in passive profits;
- advantage among competitors;
- an increase in site recognition.
As for the disadvantages, there are a few: the client can not affect the quality of the product, and need to prepare the site to integrate the storefront and promote the new product.