Lifecycle of Smartphones

Lifecycle of Smartphones

According to this survey from Gallup conducted in 2015, 54% of American smartphone users say they will upgrade their phone “only when it stops working or becomes totally obsolete.” Additionally, iPhone users are more likely to upgrade sooner than Android users, which Gallup speculates is due to income. 44% of smartphone users upgraded when they were eligible to through their carrier (usually every 2 years). Thus, with the elimination of many 2-year contracts, consumers have been holding onto their smartphones longer.

With SmartPay, customers don’t have to wait until their smartphones stop working or are obsolete to get a new phone. They can get the phone they love today, and make low, affordable payments over time. SmartPay offers the following plans:

  • MetroPCS: 10-month plans

  • Boost: 12-month plans

  • Phone and service plan bundle (SmartPay+): 15 and 24-month plans

To help you plan your promotions and outreach, here are some opportune times to sell SmartPay:

  • Major phone release (i.e. iPhone or Samsung Galaxy model)

  • New software release (Customers may need to upgrade their phone to get the latest and most secure software.)

  • Back-to-school (College students who are strapped for cash need up-to-date technology for school.)

  • When competitors change their models (You may get customers who are looking not only to get a new phone, but to change their service provider.)

Reasons to Upgrade

You may also want to pay attention to how smartphone culture is evolving to identify why customers may be looking to upgrade their phones. Take a moment to reflect upon your own smartphone habits and preferences. How have your smartphone needs changed over time, and factored into your decision to upgrade? For example, what might once have been a sufficient amount of memory may no longer be enough due to how frequently you take photos. Or perhaps you rely on your smartphone more often these days to help you run your business.

What can SmartPay customers do if they want to lease a new phone before their lease term ends? They can complete their lease early at any time (and save on total fees) by processing an Early Payoff. After that, they can reapply for SmartPay.

For more ideas on how to pitch SmartPay to your customers, check out the sales tips under the “Resources” section of the SmartPay Partner Dashboard.

How to Use the Disbursement Report

How to Use the Disbursement Report

Application Success Report

Application Success Report