To say that smartphones are popular today will be an understatement, as they have ingrained finely into people’s lives worldwide not to be an accessory anymore but a necessity. America alone witnesses the use of cellphone by 97% of its total population.
And, as it is quite evident in each industry, when the demand for a product increases, say washing machine, there is a boost in the accessory demand as well, in this case, it is items like the drain hose, portable wheel stand, etc.
The exact is with cell phones. So much so that in 2018, the cell phone accessories market worldwide was estimated at $224.69 billion, set to reach $284.06 billion by 2026. What’s more, as per FMI, the sales of phone accessories between the years 2021-2031 will also witness a 6.7 CAGR globally.
If you are a cellphone repair shop owner, it is time to take a step ahead and incorporate phone accessories to grow profits, and as for how, the following article discusses exactly that and more. Let’s have a look –
Start with analyzing the market
To invest in cell phone accessories that are not in demand is an investment in vain. And, the best way to ensure that everything sells profitably is to make sure you understand the market demand and analyze how the future will shape it.
Since there are a number of accessories in the market to choose from, make sure you keep up with the trend and sort current and future demand through sales reports to buy what sells the fastest.
Offer extended warranty
What’s better to beat competition than to offer something more reliable and cost-effective to customers than others in the market would.
An extended warranty offer is certainly a great way to make the customer feel all their money is spent wisely. Talk about regular customers.
Make your accessory wall attractive
What shows is what sells, and it is fairly true for the cell phone market as well. Whether it is of the latest smartphones or their accessories, the presentation can impressively impact sales.
Keep everything clean, organized, sorted into categories like phone models, product type, etc. It not only creates a positive image of your cell phone repair shop among customers but helps in converting prospects directly into sales, using methods like window-shopping, etc.
Needless to say, how an organized space makes it easier and convenient to manage everything efficiently.
Stock Flagship Accessories
There is a constant market flow of flagship devices from different smartphone brands almost every year. And, since people love to buy hot and new devices in the market, especially smartphones with the latest tech, stocking on their accessories has a very little chance of not being profitable.
Keep in touch with what’s new in the market and the future launches, and start to stock up early to make everything available, nice, and ready.
Cross-selling and upselling
Cross-selling is like suggesting a tempered glass to a customer who is at your shop to get their phone fixed or any other useful complementary item. While to up-sell something is to recommend a better alternative to what they are looking for, say branded or expensive earplugs instead of the normal ones.
Both these methods can greatly enhance your goods’ sales; however, try to avoid overemphasizing a product or service to customers who do not seem interested.
Offers, freebies, and discounts
If there is something other than the product itself that allures people into buying stuff, it’s those little offers that come along.
Sort out types of discounts, sales, freebies with a service or product purchase that does not put you under any major loss. It is a good way to get regular customers. At the same time, it also gives your business a chance to profit from word-of-mouth advertising.
Make your customers feel special with small gestures like giving a free tempered glass for a repair, etc., and build reliability towards your service.
Talk to the customers and educate
While having a friendly demeanor for any business and service is undoubtedly one of the most important aspects for success, how often is it that you also teach them profoundly on a subject. Informing customers on the best choice for them and also why so is a good way to build customer relations and trust.
People tend to have greater satisfaction buying a product from someone who knows what they are doing and do not hesitate to let them know about the advantages as well as disadvantages of a certain item.
Apart from personally educating them, writing blogs and articles and sharing with them the website links is also a good way to promote business and sales.
Use both traditional and digital marketing aspects
There is nothing quite like a successful marketing strategy to skyrocket a business growth. More the people know about your service, more are the chances of them stopping by for their day-to-day cell phone requirements.
However, today digital marketing is as imperative as conventional methods, if not more, regardless of whether you are targeting customers at a local level or globally.
Do make banners, flyers, and posters to advertise, but at the same time also leverage an effective email marketing strategy and geo-targeted social media marketing and advertisements, etc.
Note down the mobile brand and model name of the phone of any customers who come by and ask them to fill in details like their email ids, phone numbers, etc. Use this information to send out information regarding any special offer or deal that might intrigue them for greater exposure.
Never run out of stock
The worst thing for business growth is to return a customer’s request with “sorry we are out of stock.”
Make sure your storage is always staked with goods that are high in demand at the time. Again, this needs you to analyze the market and keep up with what might be in demand in the future.
Cell phones are here to stay and not just for a decade or two, but precisely for much longer. And, therefore, investing in accessories for business growth is bound to bring an unprecedented boost in sales and profit margins.
Buy accessories at competitive prices from a reliable dealer to make the most out of everything you stock up on, and watch profit margins grow. Happy Scrolling!