White Label Products To Sell – Getting Started
White label products, or products that you can buy from a private company and re-brand it on your name to sell in the market, is sometimes a great way to increase your profits and customer base.
It’s nothing new.
White label products originated during the times of vinyl records. Before the records were sold to the public, they were sent to DJs in white envelopes. The DJ would play these songs at pubs and see how the people liked it and then inform the developers an estimate of how many copies would get sold.
Today, many major companies do it – like the Dollar Shave Club. They don’t manufacture their own razors; instead, buy them from many white label manufacturers and sell them under their own name. In 2016, Dollar Shave Club got sold for a staggering $1 billion to Unilever.
Google acquired YouTube from Adobe in 2006 as a white label product – and reaped the benefits. Adobe’s version failed while Google is making billions out of YouTube even today.
How Do You Find the Best Products to Sell?
While there can be many white label products to sell, a lot depends on the market research. Here are a few tips that can help.
– Identify the product market need. If you’re coming out with your own new ‘frozen pizza’ – because there is no competition for it in your area, you can outsource ingredients like pepperoni and cheese from two different companies. In fact, most pizza companies do not have their own printing unit and outsource printed packages too.
– Check if you could find an innovative solution to the same thing. For Dollar Shave Club, it was delivering razors to homes.
– Check the local availability. Some things may be available in some regions or countries, while missing in others. It’s finding the ‘hidden demand potential’ that might be the key.
Market Potential for White Label Products
Sometimes, a lot depends on the money you’ve. Here are some of the problems that white label products can help you with.
– Marketing your own brand takes a lot of efforts – and white label products can help you reduce the time significantly.
– Help you get focused solutions so that you do not have to start from square one
– You don’t have to worry about any R&D here – the solution already exists for you.
– You get to purchase white label products without branding – so you can develop your own brand reputation.
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How Do You Carry Out Your Market Research?
Carry out an extensive market survey for your white label products to sell. While you need to start getting innovating, it’s important to stick to the traditional market survey techniques as well.
Here are some tips that will come handy while conducting a market search to boost sales of your white label products –
1. Keep it short
Identify people who will probably be interested in buying your product.
– Keep the survey as short as possible, so that people don’t lose interest by the time it is over.
– Keep the most important questions in the beginning.
– Most people might not know what white label products are, so don’t forget to introduce the concept of white label products to them in the beginning.
2. Close-ended questions
If you are surveying a large population, never ask open-ended questions. It will be difficult for you to make demographics, or sometimes might not understand the person’s handwriting. Some respondents might not even write an answer, which can impact your market research results. A simple yes or no or multiple choice questions are the best questions to ask in a market survey.
3. Consistency is the key
Don’t confuse your subjects with ratings. If you ask a question, “are you satisfied with the product’s quality?”, and the highest rating is a 5, keep it the same for all other questions. Doing this will make people quickly move through the survey and wouldn’t need to spend more timing in reading every single thing.
4. Let one question lead to another
It won’t make sense if you randomly ask a question. People will lose interest and won’t provide true answers. Before asking if they liked your customer service, ask them how much would they rate your customer service. Then get to the ‘why’ of it.
5. Try the survey on your employees
As a white label product selling company, first, try the survey on your employees. They know the company better than your subjects and will be able to find any loophole in the questionnaire. And it is always good to take a feedback from your employees about your products and services.
6. Share results with your subjects
If you are conducting an online research and have taken email addresses of all those who have answered the survey, send them the results once the survey is complete. This fosters company-client relationship, and you will always find new clients after the survey. It is more like a follow-up. They’ve given you their time, and letting them know what you’ve found out is a great way to build brand engagement too.
With the right market research, you will be able to identify the right white label products to sell – which could help you get more ROI without actually investing or developing a solution yourself. Looking to start your White Label Reseller Business ? Click Here