What is a White Paper?
You may be reading this blog post wondering what a white paper is; if you’ve been in the B2B marketing field for some time, then you know. If you are new to it, let me explain white papers and the importance of your company having them.
To start off, I like to think that most people have seen a white paper, they just don’t know that’s what it is called when they see it. In their minds, they likely see it as a general report. They’ve probably seen them if they’ve done any research for a project in school or for their job. So, what is a white paper actually?
The official definition in Collin’s dictionary recognizes it as “an official report which describes the policy of the Government on a particular subject.” This definition is based on what it was originally used for within the British government (thank you, Winston Churchill); in the marketing world, it’s an educational sales piece or: “ a persuasive essay that uses facts and logic to promote a recommended solution to a certain problem.”
What a White Paper Isn’t
Some readers who aren’t familiar with different kinds of content may be asking what the difference is between white papers and other types of marketing material. Here are some other kinds of content and the differences between them and a white paper:
- Blog posts: these are usually shorter in length and more conversational in tone. Unlike white papers where the end goal is to sell, blog posts try to gain consumer traffic.
- Case studies: reports of a customer’s positive experience. Longer than a blog post, shorter than a white paper.
- eBooks: lead generators that shed light on industry trends and demonstrate thought leadership. They are usually more visually appealing than a white paper but about the same length page-wise.
Photo Credit: Storytelling4Tech
We’ve covered what a white paper is and what one isn’t, but why does your company need one?
Why Does a Company Need a White Paper?
It’s a Powerful Marketing Tool
Simply put, business decisions are made by different companies in different fields every day. To be able to make the right decision, especially ones that end in spending money, they need to do their research. Enter: the white paper. White papers have a proven record of success, with Media Space Solutions considering white papers as “the most influential form of business collateral” and that “76% of people have used white papers as part of their decision-making efforts”.
Now that we know why we should also ask ourselves when the best time is to use one. Companies are generally in need of, or could benefit from, a white paper in the following circumstances:
A Company Has a New Product with Little Research Available
“White papers also help companies describe complicated offerings that take a little explaining to sketch in their features and benefits and how they solve an existing problem better than anything else” (Graham, 81).
Say you were to buy a new tech product that is the first in its line of production. Let’s go way back and give the iPod as an example. The very first iPod likely had a white paper. Why? Because buyers aren’t able to just look at reviews or do any research on a product that’s brand new. That’s just the B2C market. Companies also needed to invest in the iPod and this is where they would have needed a white paper. They want to know what they are going to buy and that’s hard to do when it’s a product without any history. This is where the white paper comes in.
A Company Wants to Come Across as a Leader in Their Field
Let’s say you wanted to buy a new oven and you have narrowed your search down to one specific brand and model, but it is sold by two different businesses. You continue your research to see prices and some information about the businesses. Business #1 has a blog with months of content pertaining to oven upkeep, common issues with different types of ovens, etc. They also have a downloadable white paper on their landing page immediately when you open their website.
As luck would have it, it is a white paper about the oven model you are planning to buy. Business #2 only has the products and prices and maybe a little blurb about how the company has been owned and operated since such and such a year.
Competition-wise, which company do you think looks better and more credible? That customer may even decide to pay the extra few dollars for the oven at Business #1 for the ease of mind knowing that they are dealing with a competent and knowledgeable company.
At the End of the Day
White papers aren’t called “the king of content” for nothing. Time and time again, they produce results and have done so for decades. They are great for any business (especially startups) to use because they show thought leadership, generate leads and solve issues that their consumers may be experiencing.
For more information about content marketing in general, blog content is another great way to catch readers’ attention and gain traffic to your website. Check out this earlier post for more information.