The Advantages of Private Label Products

StrategyDriven Marketing and Sales Article |Private Label Products|The Advantages of Private Label Products Private labeling allow companies to sell branded products manufactured by someone else. The item may have been produced by a third-party, but it carries your label and is sold under your packaging. It is a useful way of expanding a product range for minimal investment.

For example, if you run an agricultural business and your customers are interested in purchasing wetting agent chemicals, private label products allow you to focus your efforts on marketing while ensuring your customers receive top-quality goods from a more specialized manufacturer.

Supermarkets sell private label products under their own branding. In fact, in the US, supermarkets generate around 15% of their sales from private label products, as these items are often cheaper than well-known big brands.

If your business is considering investing in private label products, here is some pros behind offering private labeling.

Work with an Experienced Manufacturer

Private label manufacturers specialize in a particular niche. They have dedicated expertise and have invested considerable time and effort in developing a range of products that meet customer needs. Experienced manufacturers spend a lot of money on research and development, an investment that is beyond the reach of smaller retailers and companies.

Private label manufacturers such as AmegA Sciences supply private label products for agrochemical and specialty fertilizer sellers, and turf agent manufacturers. Agrochemicals are their area of expertise, which is a win-win for businesses in that niche. Working with an experienced private label manufacturer like this one who were established back in 1984 means you can take advantage of their expertise (and manufacturing utilities) in your chosen field. Instead of investing time and money in research and development, you can select the products you need and start marketing them immediately.

Reduced Unit Costs

Unit cost is very important. The more a unit costs, the tighter your profit margins are. Spending money researching and developing a new product is a risky endeavor. The product might never make it out of the R&D phase, which means you will have to write off the project. In addition, a competitor might pip you to the post and release a similar product to market before yours is out of the testing phase.

Buying private label products from a private label manufacturer is less risky and unit costs are usually cheaper. You can buy the exact number of products you need, which enables you to maintain a minimal inventory.

Instead of investing a lot of money in a product that might not sell, you can test customer demand with a small number of products. Once you are sure the product is a good fit for your customer base, you can begin saving money by placing bulk orders.

Sell Branded Products

The beauty of private label products is that you can sell products bearing your branded labels and packaging, which are still manufactured by a third-party. Using the previous example of AmegA Sciences, they often offer in-house design and printing services. Products can be customized and printed with bespoke labels and branding. This speeds up the manufacturing process and ensures your products are ready for market much faster.

For smaller businesses, utilizing private label manufacturing product branding is a cost-effective solution. Instead of paying a third-party or creating an in-house design and printing department, you can opt for product branding as part of the service. The sooner your private label products are ready for market, the quicker your business can start seeing a return on its investment.

Offer Greater Variety to Customers

Smaller businesses often don’t have the funds available to invest in extending a product range. Buying private label products from an experienced private label manufacturer makes extending a product range more cost-effective.

Since good private label manufacturers only operate B2B (and don’t compete with their customers B2C), they can offer a wide range of products and unique product customization options. By working with a private label manufacturer to produce products that fit your existing lines, you can expand your inventory for less and attract a new set of customers at the same time.

If you have identified an underserved niche in your marketplace, private label manufacturing is a smart way to test the market. Work with an experienced private label manufacturer to produce a customized product your customers want. You’ll enjoy excellent quality and fast turnaround times, which means you can expand your product range before your competitors have spotted the gap in the market.

Bulk-Buy Products

Having the option to bulk buy products is one of the many advantages of purchasing from a private label manufacturer. Bulk buying options minimize unit costs and there are often significant discounts available if you want to place a bulk order.

Establish a Unique Brand

Selling only big-brand products makes it hard for a company to stand out in the crowd. By developing a range of private label products, you can differentiate yourself from your competitors, which helps to build a unique brand.

Always work with an experienced private label manufacturer when producing private label products. That way you can build a strong reputation and a loyal customer base.

Top 5 Facebook ads strategies for ecom or dropshipping

StrategyDriven Online Marketing and Website Development Article | Top 5 Facebook ads strategies for ecom or dropshipping | Facebook Ads | EntrepreneurshipIf you are looking forward to boost the popularity of your dropshipping business and get more orders, you must take a look at Facebook marketing. In fact, Facebook paid advertisements are in a position to provide outstanding results to you. At Strategy Driven, our favourite course for ecommerce is Franklin Hatchett’s ecom elites course. The ecom elites review on goes into great detail as to why you should buy the course.

As the first thing, you need to understand that Facebook advertising is completely different from Google advertising. If you are familiar with Google advertising, you will not be able to apply the same strategies in here to end up with positive outcomes. You must be aware about the specific strategies, which can help you gain positive results in Facebook.

Here is a list of 5 such effective Facebook ads strategies that you can follow for dropshipping or ecommerce. All these strategies can provide amazing returns to you and you will be able to go ahead with any out of them.

1. Make sure that you create a sense of exclusivity

Facebook is all about exclusivity. Therefore, you need to make sure that your advertisements on Facebook are also in a position to create a sense of exclusivity. This can provide you with a clear advantage by being on a social media network such as Facebook. You should always provide exclusive content via the Facebook ads. This can consume a lot of time and effort. But when you compare it with the returns that you get, you will be able to have a clear idea about the benefits that come on your way.

2. Highlight before and after

In the Facebook advertisements, you need to highlight the conditions that exist before a specific action and the conditions that exist after a specific action. No matter what kind of a product you are trying to promote with Facebook, you need to take it out of the box and snap a photo to be uploaded to Facebook. Then you need to snap another similar photo after you use the product. Both these photos should be combined and uploaded on Facebook.

For example, assume that you are going to sell running shoes through your ecommerce store. The first thing you need to do is to take out the running shoes, keep them along with the wrapping and then capture a photo. Then you need to take another photo, which indicates a person wearing the running shoes. This photo should be taken with a nice background behind it. If you can follow this strategy, you will be able to get the best possible results out of your Facebook advertisements.

3. Receive benefits from the fame of your competitors

When you are promoting a dropshipping or an ecommerce business on Facebook, you need to pay special attention towards the competition. However, you will be able to take advantage from the fame of your competitors.

Many people worry that having famous and reputed competitors is a disadvantage. That’s because people often tend to go ahead with the brands that they can easily recognize. However, you will be able to talk about those recognizing brands and then tell that there is something even more interesting and better. With that approach, you can promote your product. This will provide you with a better opportunity to grab the attention of your audience.

All you have to do is to upload a post with information related to the product offered by your competitor. Inside the post, you can promote your product according to the above-mentioned approach.

4. Highlight the contrast

You must be selling variant or customizable products through your ecommerce store. In such a situation, you need to make sure that you upload Facebook advertisements, which highlight the contrast between them and the ordinary products available in the market.

You can even do with the help of exact same shoes as well. All you have to do is to introduce the different colors and textures, when your customer keeps on scrolling through. This can give life to an outstanding advertisement in the long run. It can also highlight all the variants that you have got for sale under your store as well.

However, you need to understand that it is not possible to receive effective results by paying attention only towards the colors. You should also take a look at the fonts and background colors as well. That’s where you need to think about handing this over to a professional designer. Then you can completely focus on promoting your dropshipping or ecommerce store on Facebook.

5. Create excitement about products on the minds of customers

Through Facebook advertisements, it is also possible for you to create excitement about your products in the minds of customers. You just need to think the most exciting moment for your customer would be in the product lifecycle. In most of the products, unboxing is the most exciting part. For that, you need to select a product and then promote it via Facebook advertisements. Due to the excitement that you create among customers, they will be tempted to visit the ecommerce store. As a result, you will be able to generate a significant income out of it as well. That’s because you can get more people from Facebook to purchase the product that you offer. It can create a positive impact on the other products available for your purchase in the ecommerce store as well.

Any ecommerce or dropshipping store owner will be able to follow these strategies. Then you can easily end up with outstanding results. You will also fall in love with Facebook advertisements due to the amazing returns that are offered to you in the long run.

Sales Success – Strategy or Mindset?

Is your company’s sales strategy well planned and executed? Does it include a comprehensive prospecting plan for getting in front of the right people followed by a methodical sales process and the right tactics executed by a well-trained sales staff? If you answer yes to all of that and there is still a gap between desired and actual results, you might not have a tactical or strategic problem at all. It just might be experiencing the negative belief systems that reside within the hearts and minds of most everybody regarding salespeople and their roles, that are holding you back.

Sales is an emotionally charged vocation. Sometimes all it takes is one unsuccessful appointment, one prospect who looked promising and then went dark or one too many think-it-overs to cause a salesperson to question their choice of profession – or judgment. Clearing your salespeople’s heads of the “trash” that besieges their identity and self-image; helping them better understand the fears, anxieties and confusion about the sales process, both the seller’s and the buyer’s; steadying their ship as they ride the emotional seas of sales – all of these might be just as important as drilling them in the right tactics. Of course, tactics are important. They’re the answer to the question, “What do I do?” But understanding the why behind the what might be the best place to start.

In my own sales experience and in my coaching efforts with hundreds of salespeople, it is apparent that most of us in a sales role struggle to some degree or another with the idea that we are engaging in one of the least respected of all professions. Here are some fundamental mindsets needed to regain self-respect and a healthy sales mindset:

  • Embrace rejection – Go for the “NO.” Let ”NO” be your second favorite word in the English language. Stop wasting time on eternal “think-it-overs,” stop chasing non decision makers and stop appearing desperate in front of prospects. Sales interactions should be win-win for everybody. If you find yourself wanting or needing the sale more than your prospect, you’re probably not going to emerge from the sales process as a winner.
  • Get comfortable with being NOT OK – If you, like most people, let other peoples’ opinions determine how you feel about yourself, you’ll spend a lot of life feeling NOT OK. Coincidentally, if you’re always searching for your own “OK-ness” you’ll often find yourself in competition with your prospect for who’s going to get their needs met in a sales interaction. Learning to be OK on the inside while being NOT OK on the outside is paramount for sales success.
  • Tame your inner voices – Dwelling within each of our minds are the competing voices of our parents, ourselves as children and, fortunately, the logical fact driven Adult we strive to be. Parents can chastise – “Salespeople are crooks! When will you get a real job?” – or nurture – “You’re a brave soul! Success is right around the corner for you!” Children can get highly emotional – “If I don’t make this sale I’m sunk for sure!” – or seek approval – “I wonder if she likes me, she didn’t seem happy with my price.” Adults, however, tend to seek useful information, make clear decisions and filter out inappropriate responses – “It might be time to walk away from this sale, it’s going nowhere; too much time spent on a prospect who is not motivated to make a decision.” Knowing which voice to heed and which to ignore is critical for developing mental toughness.

Sales strategy, tactics and process are invaluable to sales success. But people don’t ultimately fail in sales because of poor strategy. They fail because they give up and they give up because their mind is not sufficiently steeled for the rough seas of the sales profession. Once they fix their mindset, then another day of rejection is no longer an anxiety producing event, it’s just another step closer to a YES, a big sale and sales success.

About the Author

StrategyDriven Expert Contributor | Brad McDonaldBrad McDonald, author of The Art and Skill of Sales Psychology: Why Buyers and Sellers Do What They Do, is an operations director at Sandler Training. He is responsible for domestic franchisee support and growth. This includes all facets of on-boarding, training, and coaching of trainers within the network. He also provides on-site training to Sandler Global clients. In addition he spent 28 years in the United States Navy, principally as a submarine officer.

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Can Text Messages Help Your Accounts Receivable Department – Yes!

StrategyDriven Marketing and Sales Article |Accounting|Can Text Messages Help Your Accounts Receivable Department Yes!Our lives are hectic, and technology can help the situation and make it worse at the same time. However, if your company wants to communicate effectively, it needs to rely on text messaging as a way to be more efficient and increase revenues. We look at how in this article.

Increased Response Rate

According to research, text messages are opened at a rate of 98% when compared to emails which are opened at a rate of only 20%. Also, text messaging is the preferred method of communication among millennials. Lastly, most people carry their phones with them wherever they go, which means that if you want to reach someone with an important message, you should consider texting them.

Knowing that, let’s take a look at how your accounts receivable department can benefit from text messaging.

Texts Notifications Are Pervasive

More and more communities, governments, and outreaches are adopting text messaging as the way to get vital information out to people. Nearly everyone checks their phone when they get a notification even if they don’t immediately act on it.

Texts & Accounts Receivable

Now that we’ve seen how widely used text messaging is, and people are more likely to read their messages, let’s look at how your company’s accounts receivable department can benefit.
Sending out paper bills that get left on the counter for days is old fashioned as is waiting for a customer to send in a check. Many customers now prefer to pay their bills via autopay or by visiting a website or using an app to pay with a credit card. Text messaging encourages a quicker response to pay a bill and ensures that invoices don’t get lost in the mail or forgotten about.

Also, sending out a text message as a reminder is seen as less intrusive to people than a phone call, and is more likely to be acted on than sending a letter in the mail.

Increased Response Time

Another considerable advantage to using text messages to notify people about invoices is that you’re more likely to get an immediate response than if you inform them by other means such as email, phone calls or snail mail.

When a person receives a notification of a bill that’s due, and an easy way to pay, generally speaking, they pay right away, which means increased cash flow for your company.

Makes Accounts Receivable More Efficient

In addition to a higher response rate from your customers, your AR department becomes more efficient thanks to text messaging too. The less time your AR department has to spend sending out letters and making phone calls trying to track down money means they can spend more time expanding their reach and becoming more efficient.

If your company isn’t making use of text messaging and push notifications, it’s high time that you research the benefits and experiment and find a system that works for you; you have nothing to lose and everything to gain.

Ron Kinkade is the Director of Marketing at Call-Em-All, an automated calling and  mass texting company that provides solutions for small and medium sized businesses, large corporations, membership organizations, community groups, and individuals. Ron has more than 15 years of experience with a proven track record of success. Ron is a graduate of Illinois State University.

3 Ways To Market Your Business That Don’t Involve The Internet

StrategyDriven Marketing and Sales Article |Offline Marketing | 3 Ways To Market Your Business That Don't Involve The InternetWhen it comes to marketing your business, there are many ways to go about this. Whilst you may think that the internet is your only option (social media in particular), there are a variety of ways to make an impact offline, and you should actually cover more bases than just those on offer on the web. But what are these ways of marketing yourself, and how do you actually go about them? We’ve put together three simple ideas, for those looking to market themselves, without sending out a single Tweet. Well, maybe you can do all of these things, you know?

1. Speak at conferences and panel discussions

Whether you’ve been invited to talk at a conference of some sort, or a panel discussion, it’s definitely in the interest of your business to take up this opportunity. Not only does this give you a platform to talk to people that you may not have otherwise had the opportunity to connect with, but it also gives you a brief window period to convince people that your business would be useful to their lives. Sometimes, there is no better way to sell yourself than being in front of the people that may be interested in your services, so make the most of these opportunities. You’ll also meet other people in your field!

2. Keep business cards on you

Business cards have existed for ages, but a lot of professionals are still ensuring that they’ve got a few on them at all times. This is one of the key ways of offline marketing, so make sure that you order some professional business cards from a company that offers a good printing service. If you meet somebody at an event, or even somewhere totally unexpected, it doesn’t really look great if you just write your email down on a scrap of paper, and the person in question will forget who you are pretty quickly. Get some printed, and take a few out with you wherever you go.

3. Advertise on local radio

OK, we know what you’re thinking. Local radio? Who even listens to the radio anymore? But think about how many people commute in the mornings and evenings, and a lot of them do listen to the local channels. In fact, more people listen to the radio in the US than those who watch TV. There are many benefits of local radio ads, but one of them is that it isn’t as expensive as national radio, and it specifically targets your community. Sure, it may cost you a little more to put an ad out during busy times, but when you see the benefits that you get from this, you’ll be glad that you tried this offline method of marketing.

So, if you’re looking to market your business without using the internet, there are a variety of ways that you can do so. Some of these options include speaking at conferences, keeping business cards on you, and advertising on your local radio station. Good luck, and happy offline marketing!