The cost of a flagship mobile device is creeping slowly upwards. First, phone contracts changed – the apparent price of a flagship phone went from $200 USD to around $600. Then, people started hanging on to their new phones for longer – demand went down. On average, people used to get a new phone every 2 years or so, but the average jumped to 3.04 years this past quarter and will continue to rise. 

We spend a lot of time talking about how to optimize the performance of mobile device trade-in programs. For the most part, these conversations come down to two sides—the backend operations and the customer experience. Having the technology to support a trade-in program is a great first step. Next, you have to find ways to generate the most value from device trade-ins.

Way back in 1963, Andy Williams released his song “It’s the Most Wonderful Time of the Year” on a Christmas album. And undeniably, the vast majority of people connect this phrase to the holiday season. But for mobile device carriers and retailers, the most wonderful time of the year starts a few months earlier.

When it comes to in-store customer experiences, carriers and retailers are often most concerned with what’s on the surface. Over 75% of companies say they lose customers due to issues with wait times.

As consumers continue to hold onto their devices for longer periods of time, it’s more important than ever to build out a comprehensive data analytics program. But if you’ve been running a mobile device trade-in program for years, you already know how data can help you grow your program.

Carriers and mobile device retailers aren’t immune to general trends in consumer behavior and customer experience. Like in any other industry, the mobile device industry has to embrace an increasingly digital buyer’s journey. What used to be exclusively a brick-and-mortar process has evolved into an omnichannel experience that spans desktop websites, apps, mobile sites, and more.

By now, no consumer should be tossing their old mobile devices in drawers when it comes time to upgrade. Not only is it an environmental concern, but you’re also leaving significant amounts of money on the table if you neglect trade-in programs.

In 2018, the global cost of fraud exceeded $3 trillion. There are countless types of fraud that contribute to these losses, including identity theft, telemarketing scams, insurance fraud, and so many more.

Five or ten years ago, the thought that employees would use their personal iPhones and Android devices for work was enough to terrify business leaders. And yet, the rise of bring your own device (BYOD) policies was inevitable.

Even though we spend hundreds (or, eventually, thousands) of dollars on smartphones, we inevitably replace them two to four years later.