One way to get stick compounds to take hold on leather is to lightly sand the surface of the leather to give it some velvety nap. On an inexpensive strop, there's little risk in doing this, as it can be assumed the leather itself hasn't been prepared or surface-finished in any special manner. With the velvety nap on the leather, the compound will have more surface texture to adhere to.
The white compound won't be very visible on the leather - in a microns-thick layer of application, it's essentially clear. So don't worry too much if it doesn't look like much is going on. The test for effectiveness of the compound is using it. Assuming the white is aluminum oxide (and most are), you'll see grey or black streaks of metal removal, left on the strop. As long as you can see that, you know it's working like it's supposed to.