As far as consumer attention goes, the smartphone has become today’s television. Many of us are walking around with $700+ computers in our pockets, which have given rise to an evergrowing mobile trade-in market.
But as trade-in programs grow, there’s an opportunity growing alongside the importance of smartphones—the mobile accessories market. If you want a mobile device trade-in program to truly grow bottom-line revenue for your organization, you need to start leveraging accessories.
Why Should You Care About Mobile Accessories?
Recognizing the importance of accessories for your distribution business isn’t terribly complicated.
The mobile phone accessory market is worth nearly $25 billion already—and as smartphones become further integrated into every aspect of our lives that number will grow. If the sheer value of the accessories market isn’t enough to persuade you to pay more attention, then the profit margins surely will.
Specific profit margins depend on the type of accessory you’re considering, but the bottom line is accessories help increase revenue. With considerable margins, you should be doing everything in your power to take the proceeds from mobile device trade-in programs to invest in leveraging accessories—whether it’s smartphone cases, tablets, headphones/speakers, screen protectors, or anything else.
Rather than trying to bleed new/used smartphone sales for every ounce of your profits, let your trade-in program be a profit center by leveraging accessories.
At the same time, you can’t be selfish when you think about the value of accessories. If you want to differentiate your mobile trade-in program from the hosts of others, you need to focus on the customer experience around trade-ins and accessory purchases.
Leveraging Mobile Accessories is a Win-Win
It’s important to empathize with what consumers want out of their new smartphones. When they trade up to a new device, you know they want to use it to its fullest potential. That means protecting their investments, enjoying all of the phones entertainment features, staying safe with hands-free operation, and more.
Giving discounted or free accessories along with smartphone trade-ins doesn’t just give you great margins—it creates a great customer experience that could lead to even greater word-of-mouth marketing.
Your customers enjoy their new devices and you enjoy better bottom line revenue. What could be better?
How to Expand Your Mobile-Trade in Program
The only thing holding any company back from a more profitable trade-in program is strategy. It can be difficult to envision and execute the right mobile device trade-in plan that leverages accessories properly.
This is where HYLA Mobile steps in.
If you want to learn how our mobile device trade-in expertise can help you make the most of your profit margins on accessories, contact us today and see how you can take your trade-in program to the next level.
Related articles selected for you: