6 Advantages of Using and Selling White Label Software
In today’s digital world, businesses of all shapes and sizes need to make important software decisions. There are enterprise software solutions for just about every important company function: point of sale, loyalty, marketing services, accounting, just to name a few. If you are a business that sells solutions to other businesses, bundling offerings, platforms and unique products is a major strategy that can create significant benefits for your business. Here are 6 we think you should know:
- It’s “your” product. By definition, when you white label a solution, you are applying your own brand to it. End-users shouldn’t be able to determine its not your product. This means you can add new products to your offering without costly development investments (time, research, testing, labor, etc.).
- The solutions work. Similar to reselling someone else’s enterprise software solution as a value add, you technically are selling someone else’s software. These vendors that specialize in white label solutions focus only on building great products. iMobile3 for example just focuses on the software. We don’t invest resources in trying to sell our own branded solutions, so that we can focus on providing our clients the best possible solutions. Nor do we want to compete with our own clients.
- New opportunities mean growth for the portfolio. White label strategies are very common among businesses who are looking to expand beyond their typical offering. If a company is really good at one thing, they may need help building something for another. And this is where a white label strategy is the perfect solution. Add complementary functionality and products without sacrificing your core business and this can help bring in new sales and customer segments.
- Unification = Simplicity. Businesses already deal with tons of vendors for a myriad of functions. By adding new white labeled solutions, you can combine and support a multitude of functions that your customers need. If you can eliminate the number of support hotlines a business needs when something goes wrong, you’ve created real value for that customer.
- Retention is king. We’ve all heard the saying, “It costs more money to bring in a new customer than it does to keep an existing one.” The more products and services a customer is consuming from you, the less likely they are to leave you. Bundling is a very effective retention and up-sell tool. By adding new products through white label strategies, you can give your customers additional value, helping your bottom line.
- Product expansion is a key business strategy. In today’s world, many service and solution providers get boxed out or overshadowed by larger tech companies, telco giants and conglomerates. Why? Because they offer a wide breadth of solutions that create unified support and costs for their customers. This model works. It’s hard being good at only one thing. By the time you’ve mastered it, someone has entered the market and can do it better or cheaper than you can. So we innovate. We adapt. We expand. White labeling new products is the perfect way to mitigate your risks and investments.
iMobile3 specializes in white label software applications. If you’re interested in learning more about our white labeled point of sale, loyalty or digital marketing solutions, contact us at email@example.com.