The hardest part about launching your own online business is coming up with a ‘big idea’, something that really sets you apart from the competition. Then there’s the money and time needed to transform that idea into a profitable reality. It isn’t easy by any stretch of the imagination and, with any new business venture, inherently risky.
Enter White Label, your golden ticket to online success. It’s an out of the box and already on the market solution that can be rebranded and sold under your own name and as your own offering. For budding entrepreneurs, it’s a quick and sensible way into business – with so much of the risk, the blood, the sweat and the tears taken out of the equation.
We caught up with Viddyoze co-founders, David, Jamie and Joey, to get their expert opinion on why setting up an online white label business makes so much sense. Here’s what they had to say.
1. You Know The Product Sells
At its most basic, a white label product has already proved itself – meaning you’re already confident that this is something that can sell. The very fact that a white label version of a product exists is proof enough. Think about it this way: one, what business is going to invest in white labelling an offering if it doesn’t make any money?
“The fact you’ve bought something yourself proves that there’s a demand for it,” says David. “It’s proof that the sales process works. All you need to do is ‘copy’ the product offering. That is where white label comes in. You can take a proven business model and product and get to work on selling it.”
“By white labelling, you’re essentially cutting out a lot of work and jumping ahead by having an already established product to work with,” adds Joey.
“There’s no guesswork – it’s all there… and it’s already proven to sell. Take Viddyoze, for example, we have over 150,000 people sign up to our platform. That’s 150,000 plus reasons.”
2. There’s Less Risk – Plus It Saves You Time And Money
Building a business from scratch takes a lot of time and money. On top of that, there’s a big risk factor – there are no guarantees your investment will pay off.
With a white label solution, you’re able to get to market pretty much straight away. Plus, on top of the money you save, the cash you end up making can be used later on down the line, when you’re ready to launch your own solution (if preferred).
“You can’t overlook the amount of financial investment required to take products to market,” says David. “Viddyoze has had multiple seven figures of investment, and we are approaching our sixth year.
“If you’re looking to diversify your product offering, then you could go ahead and create your own platform. Yes, it will drive more value in your business long term, but that is if it ever comes to fruition. White labelling a product is a risk-free way to get a new product to market – without swallowing the associated time and financial investment needed.”
3. You’re working with established experts
Maybe you’re running a digital agency. Your bread and butter is paid social, but you want to add a video animation solution to your suite of products. The problem is, you’ve no idea where to start.
A white label solution gives you access to a product that has been designed by people who know what exactly they’re doing. They’re legit experts who’ve spent years crafting their solution.
The benefits of white labelling are vast, but one of the obvious ones for me is that you’re tapping into already proven success
“The benefits of white labelling are vast, but one of the obvious ones for me is that you’re tapping into already proven success,” says Joey. “Again, if you take Viddyoze as an example, it’s had millions of dollars worth of investment pumped into it to advance the technology and improve the product – you don’t have to worry about any of that.”
4. It Gives Your Brand Instant Credibility
“How legitimate is this business?” That’s the killer question every consumer asks when they come across a new company. Next comes a flurry of internet sleuthing, where cautious prospects meticulously scour the web for more information, for reviews and for everything else under the ‘digital sun’…
Without all of that (it’s implied that what they’ll find is largely positive) it can be difficult to get a business off the ground – especially if you’re looking for a high level of momentum from the get-go. That isn’t necessarily the case with a white label business, which lets you vault the credibility hurdle as you simultaneously work on building a strong online presence yourself.
“People will question you because you’re new, not established and have no customers,” explains Joey. “A white label solution is a way around that. For instance, Viddyoze has served the likes of Coca Cola, Vodafone and Pepsico.
“What does that tell you? That our product has been used at a very high level by great customers. That reveals two key things. One, that you can attract this kind of customer base. And two, while you can’t claim these brands as your own, you can creatively position your messaging based on those facts.”
5. You Get Valuable Insight Into The Software Space
If, in particular, you’re looking to move into the tech space – or build on what you already have – a white label solution effectively gives you a foot in the door. The more time you spend selling a white label, the more experience you’ll gain in that field. And as you progress – and as your margins go up – you’ll learn more and more about what it is that makes a software solution so successful.
What you get is insight from those who’ve already built the platform
“What you get is insight from those who’ve already built the platform,” says Jamie. “Not just in relation to growing a platform, but also developing a SaaS platform. White labelling a platform that’s already had mountains of time, money and investment put into it almost fast tracks the progress of running and growing your own SaaS business.”
6. It Keeps Your Customers Happy – And Helps You Get More Much Faster
You know your customers. You know what they like. A well-selected and complementary white label solution makes for a valuable addition to your portfolio of products. And, to reiterate, because it’s tried and tested and proven, you can be confident that your customers will see it as even more evidence of your brand’s value (helping to build even more loyalty).
“The groundwork of what we have already developed has been built off customer feedback,” explains Jamie. “So, we already know what makes customers happy in relation to our SaaS platform.”
This then feeds back into point four. Happy customers leave good reviews. As you ramp up your marketing, potential customers take confidence from those reviews and, in turn, want a piece of the pie. Plus, the more value you add to your proposition, the more people it appeals to.
“If you already offer a product or service, adding an additional service in the form of white labelling is a quick and easy way to add stacks of value – and without much added investment of time or money,” adds Jamie.
If you’re considering setting up a white label business or are looking to invest in a white label solution to grow or diversify your business or organization, check out our dedicated page here.