Using White Labels in Your Online Business
You may have been considering implementing digital products within your business model to provide instant and valuable content to your audience – who is ready to take the next step, but isn’t quite ready to commit to a bigger Ask, such as services or an online course. Not to mention, utilizing digital products as a product opens up the doors to earning passive income, which means you’re setting these products up once, and reaping the benefits long after without so much as lifting a finger.
Before you dive head first into designing a brand new product line, you should understand that there’s an art to passive income. The last thing you want to do is exert a ton of time, money, and resources into a collection of content that no one is interested in.
Let’s dive into the steps you should take to create an online shop of digital products, and why utilizing white label planners is your ticket to working smarter and not harder.
Related Blog Post: Why You Should Consider White Label Planners to Monetize Your Small Business
WHAT IS A WHITE LABEL PLANNER?
White label planners are pre-designed templates that small businesses can purchase to legally present and sell as their own. Typically, there is no branding attached to these items, so you can easily add your own business assets, such as logos, business name, brand images, color palettes, etc. to make it unique to your business.
White labeling allows you to offer beautifully-designed & valuable products without having to spend the time designing and developing them yourself. This gives you the opportunity to tap into passive income at a low point of entry and position yourself as an expert in your field…all while spending way less time developing a product from scratch.
Pro Tip: To optimize your white labeling strategy, consider using each page of your planner separately to sell, which will increase the amount of items in your shop without all the extra work. Market the full planner as a bundle so your audience can save big!
Creating a Base Product Line with White Label Planners
Naturally, your first step in selling digital products is creating them. Unfortunately, the first step is where countless business owners, myself included, can go terribly wrong.
Typically, you would sit down and begin the process of product creation – brainstorming, researching, outline, drafting, editing, refining, etc. – a job that could take days, if not weeks, to complete from start to finish.
Just imagine pouring your heart into a collection of digital products – prioritizing your time to design rather than complete other business tasks, and spending money on tools & resources to complete the job – only to launch your passive income stream with no return on your investment.
It’s something, I’m sure, all of us have gone through once or twice, and it’s a gut wrenching thing to have to deal with. It’s unproductive and pulls your attention from other tasks that could actually move your business forward.
Instead of spending all of your time upfront designing a product line you don’t know will be receptive to your audience, the more logical solution is to invest in white label planners and workbooks first to test the waters.
Observe Your Results
With the release of your white label product launch, you can now accurately gauge your target markets reaction, analyze your sales data, and absorb their verbal feedback to then create a more impactful set of products.
Begin to pay attention to which products are selling the most, which products sell the least, the suggestions and comments you receive from your customers, and what products your customers typically purchase together.
A big part of this phase is making sure you allow for an easy line of communication between your customers. If your platform allows it, I highly suggest having a product review option. Your customers will generally tell you exactly what they want and don’t want, what they like and dislike. It’s up to you to listen tentatively and implement those changes when the time comes.
Over the course of a few months, continue to collect your data and observations, keeping them in a safe place that you’ll remember for your next steps to creating an effective stream of passive income.
Update and Expand Your Product Line
As time passes and you’ve collected enough data from your initial sales, it’s now time to start implementing those observations by:
- Updating your existing white label planners
- Or, by expanding your product line by designing or outsourcing custom planner designs
Now is the time to put your blood, sweat, and tears into your product line since you have some data and tangible results to go off of. Any changes you make, as long as they correlate to the feedback you’ve been given, will result in a huge scaling of your business.
You’ll be offering products that resonate with your target audience, resulting in a higher conversion rate. You’ll be solving a problem, meaning you’ll increase your chances of recurring customers. And, most importantly, you’ll be working smarter, not harder.
It’s a win-win for everybody!
Related Blog Post: 5 Way to Use White Label Planners to Scale Your Business
If you’re excited to begin the process of implementing digital products in your business model for the chance to start earning some passive income, you’ll definitely want to consider streamlining your strategy using white label planners. It’s a small investment to tap into a huge money-making opportunity that you won’t want to miss out on!