By Tammy Jeannice
The term white paper, also called a whitepaper, refers to a professionally written document that provides detailed technical or scientific information on a product, service, or issue. Business owners use it to procure investments, educate, or provide technical guidance. Graphs, illustrations, and technical information boost the paper’s appeal.
White Paper Purposes
This type of document offers various audiences valuable, detailed information. A white paper informs investors by offering a complete overview of how a product can contribute to business revenue. For customers, it provides detailed product qualities to aid customers’ understanding of product attributes. In a competitive report, a white paper reveals new services provided by your company or provides statistical projections on how the launch of a new product will disrupt the market.
Types of White Papers
Organizations including governments, businesses, and nonprofits use three types of white paper. According to Investopedia, white papers can take one of three formats:
- backgrounder – offers meticulous technical information for a solitary product or topic,
- numbered lists – highlights the essential features of a product or service,
- problem and solution – illuminate a communal issue and offer a potential solution.
For example, blockchains frequently use white papers to expand on their road map and explain the scientific background for their service and cryptocurrency to attract investors.
White Paper’s Cost vs. Revenue Increase
According to Better Marketing, it can cost up to $30,000 for a complete, illustrated, professionally researched, and written scientific white paper. Even though using a professional writer, editor, and illustrator increases production costs, a white paper that dovetails with your marketing strategy potentially increases your revenue. Investors with complete information tend to invest more. A full technical whitepaper of the service explains the potential and how the service benefits the consumer.
Contact Powell Lawson Creatives
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