Why Do Companies Write White Papers? (and other commonly asked questions)
Today’s post will be short and to the point. For B2B businesses, consulting firms, and startups, here are some answers to your commonly asked questions about white papers.
What are white papers?
White papers are long-form documents that reveal product or service features and translate them into business advantages. These documents are fact-driven and contain useful information based on expert opinions and ironclad logic.
Also known as consumer reports, industry reports, or special reports, white papers take on the objective and educational approach of an article while incorporating persuasive corporate messages typically found in brochures.
As defined by white paper guru Jonathan Kantor, a white paper is “a document between six and twelve pages whose purpose is to educate, inform, and convince a reader through the accurate identification of existing problems and the presentation of beneficial solutions that solve those challenges.”
When a company is ready to announce a new product campaign, solution strategy, competitive analysis, brand repositioning, or market perspective, the white paper is frequently relied on to convey that information to a target audience.
Why do companies write white papers?
Businesses often use white papers as a tool to persuade customers and partners and to promote a product or viewpoint.
Generally, vendors publish white papers to generate leads or to position themselves as a leader in the market space. They might also publish a white paper to justify a sale, especially if your product or service is relatively new, relatively complex, or relatively expensive. A business might write white papers for any of the following reasons:
Gather leads for the sales force
Educate potential customers
Influence a selection committee
Educate the sales force or channel partners
Educate the media
Send to a trade publication or website
Redefine a market space
Build credibility or brand authority
Keep up with competitors who have white papers
Who reads white papers?
White papers are read by anyone considering the purchase of a relatively new, relatively complex, or relatively high-priced product or service for their business. Common white readers include:
Corporate executives
Finance executives
IT managers and staff
Line-of-business managers
User representatives
In-house supporters of the purchase
In larger companies that make a collective decision, there may be a buying committee including these types of people.
Business decision makers routinely share good white papers up and down the chain of command, to their managers or their staff.
Why do people read white papers?
White paper readers seek out useful information that help them understand an issue or solve a problem. This typically involves learning about the business benefits or technical details or a product or service they are considering to purchase.
Most business decision makers read white papers for the following reasons:
Stay updated about new trends
Get information about products and services
Compare products
Help justify purchase decisions
Develop a list of qualified vendors
While IT professionals used to be the primary audience of white papers, today’s readers seek simple explanations with concrete business benefits supported by facts and convincing arguments.
Where do white papers fit in the sales cycle?
The longer the sales cycle, or the buyer journey, the more likely white papers are involved.
Typically, white papers are used early in the sales cycle, before the prospect makes a purchase. In this stage, the buyer is researching and planning as they seek out information on an issue or problem they are facing.
How much does a white paper cost?
Here are the costs related to producing a white paper:
Research, writing and editing
Illustration and design
Translation, if necessary
Printing, if necessary
Promotion
Each of these costs may be outsourced or handled in-house. However, a white paper should be seen as a significant investment.
B2B marketers should count on spending around $5,000 for a well-researched, well-written, and visually-engaging white paper. However, depending on the complexity of the topic and the scope of the paper, it could cost up to $10,000 for a high-end white paper. On the other hand, a text-only white paper will cost less.
How long do white paper take to produce?
Generally, it takes 6 to 8 weeks from the first planning interview to an approved white paper draft. However, that time frame can take longer depending on how quickly it takes for the writer to conduct interviews and on how quickly the reviewers sign off.
Illustration and design will take an extra 1-2 weeks. If translations are required, that will also add more time.
Finally, promoting the white paper is an ongoing process that may take many weeks or months.
However, white papers have long shelf lives, as vendors can often continue using the same white paper for years.
How do you promote a white paper?
A good white paper will be an ineffective marketing tool if it is tucked away on your company’s website.
To earn a good ROI, you must actively promote a white paper the following ways, often many at once:
Share it to numerous websites
Feature it prominently on home pages
Send emails about it
Mention it in email signature lines
Tweet about it on Twitter
Extract ideas and create blog posts from them
Create a press release about it
Mention it in newsletters, e-zines and blogs
Give it to prospects on sales calls
Give it to prospects at trade shows
Pay a third-party service to syndicate it
The best way to promote your new white paper is to treat it like a mini-product launch. The more effort you invest in promoting, the more likely your white paper will succeed.
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