White Label Partners
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What are white label partners?
White label partners are businesses that take a product or service developed by another company and rebrand it as their own, presenting it to their customers as a proprietary offering. This practice, known as white labeling or private labeling, allows companies to expand their product lines and market presence without the need for in-house development.
For example, imagine a FinTech company with a robust online payment processing system. A banking institution who wants to offer digital payment options to its customers may lack the technical expertise in-house but could partner with the FinTech company to offer it to customers. The bank would rebrand the payment processing system with its own logo and design, offering it to customers as part of its own suite of services.
This relationship has many benefits for both companies:
- Brand consistency: White labeling enables companies to maintain a cohesive brand image across their product offerings. By presenting the product under their own brand, they reinforce their brand identity and build customer trust.
- Market penetration: White labeling provides an effective way for the original developer to expand their market reach. Resellers often have established customer bases and distribution channels, allowing the product to reach a broader audience without additional marketing and sales efforts from the original developer.
- Customization: Resellers have the flexibility to tailor the white-labeled product to meet the specific needs and preferences of their target market. This customization can include adding features, modifying the user interface, or integrating the product with other offerings.
- Time and cost savings: White labeling significantly reduces the time and costs associated with product development, research, and testing for the reseller. This allows for a quicker go-to-market and lower overall investment.
- Revenue sharing: Both parties benefit financially from white labeling. The original developer earns revenue through licensing or royalty fees, while the reseller generates income by selling the rebranded product.
White labeling is a powerful strategy that empowers companies to grow faster, together. It allows companies to offer innovative products and services without the need for extensive development, while the original developers can reach new markets and enhance their product’s visibility.
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