As we’re nearing the end of this year, the world as we knew of it has metamorphosed technologically. With economies supporting digital initiatives worldwide, the smartphone industry is set to explode in the coming years. Unsurprisingly, the global smartphone market is forecasted to record a CAGR of 11.2% from 2020 to 2025 to reach $1351.8 billion by 2025!  It goes on to show just how lucrative and revenue-boosting selling smartphones can be for anyone. With soaring market growth and evolving technologies, setting up an online smartphone marketplace can be a rewarding business idea.
If you have an existing phone selling business and want to go online or like to kickstart your online mobile delivery business, then you have arrived at the right location! In this blog, we have summarised the various steps you can follow to set up your phone delivery business. Let’s jump in!
Decide what you want to sell.
The smartphone industry has a lot to offer. Before you launch your marketplace, you should decide on the inventory. The two essential questions you should ask yourself are –
- Should I sell used/second-hand phones, or should I sell the new stock?
- What type of products should I sell?
Since buying a phone is usually an expensive investment for most people, many users also prefer second-hand phones they can get at a reasonable price. The market for used phones is significant, and if you wish, you can narrow your inventory to cater to such buyers. If you want, you can also delve into selling both types of phones.
Moreover, you don’t have to limit your marketplace to just mobile phones. You can also sell accessories that users are usually looking for with a phone. These could be portable phone chargers, earphones, power banks, USB adaptors, cables, and more. Doing so will broaden your product catalog and offer your customers a one-stop solution for all their smartphone needs.
Find an ideal source to supply your inventory.
Once you have figured out what you want to sell, you will need to find an ideal source to acquire the required inventory. If you are selling both old and new phones, then implementing an exchange program can source your stock for used phones.
You can provide users with discounts on their new phones in exchange for their old ones. A third-party seller can also be an ideal source to get used phones.
For new devices, you will need to tie up with a distributor. You can find multiple smartphone distributors in the market, some offering only from certain brands. Finding a reliable distributor will take some research and networking.
Decide on your product catalog.
So, now that you have sourced your inventory, you will need to design your product catalog. To create a well-organized product catalog, you will need to take into account the following:
- Valid discount and offers
- Product images
- Product information and description
You will need to group the product into specific categories to make your marketplace more ergonomic and navigable for your visitors. The products should have the price clearly stated and the valid offers/discount codes on specific product categories.
Having detailed product descriptions is particularly important for mobile phone devices since your customers will want to know the product features before placing an order. Informative product descriptions will also avoid visitors hopping to a different website to find details of the smartphone.
While this can be a difficult task if done manually, Yelo automates uploading your product catalog to your marketplace.
Build Your Phone e-Commerce Marketplace
Building an e-commerce marketplace is one of the most important aspects of starting your online phone selling business.
Your marketplace will serve as the interface between you and your customers, making it essential for you to pay attention to the minor details.
Some things you should keep in mind while building an e-commerce marketplace for your online phone selling business are:
- Make it user friendly
- Keep the design clean and uncluttered
- Make sure your prices are competitive
- Run promotions onsite
- Make the site engaging and seamless to use across platforms
- Optimize the site for desktop and mobile users
Let Your Audience Know
Building a fabulous online marketplace is only half a battle won. Now, you have to get the word around the block about your marketplace.
Marketing is essential to sustain the growth of any business. People won’t chance upon your website unless you put it out there. Advertising is great, mainly when targeted at a specific audience that is most likely to buy from your website.
You can target ads to potential customers based on age, gender, income, and other such parameters, making them a beneficial and valuable investment. Make sure to set aside a marketing budget so you can let your audience know about how great your e-commerce site is.
Here are some tips for marketing your phone business online:
Tips to Successfully Market Your Online Phone Business
Run a referral program
Referral programs work by having customers refer their friends and family to your site in exchange for a reward or offer that both of them earn for each person that joins the site using their referral link.
Referral programs are so effective because it gives customers an incentive to let other people know about your site. Using a referral program in the right way can bring in a lot of traffic.
Go heavy on offers
Running promotions and offers are a sure-shot way to bring in traffic as well as sales. People are often looking for the best deal when they shop on the internet. You can bring in many customers to your e-commerce site by running attractive promotions such as introductory sales or other great discounts. Remember that shoppers on the internet are always price-conscious and will flock to your site if you give them a better deal than your competitors.
Search Engine Optimization or SEO has been a hot topic in recent times, and rightfully so. Content marketing relies on making the most of search engine algorithms. These algorithms prioritize content that includes specific keywords and backlinks.
Investing in optimized content for your business can help your website climb up the rankings on SERPs. It is a great way to bring in organic traffic and growth without relying entirely on paid advertising campaigns.
Focus on consistent content
To run an online business in 2021, you need to be active on social media. Posting engaging content on social media will draw more visitors to your site, helping you grow faster than ever. Social media algorithms can be complex to decipher. Quality content consistently is rewarding in terms of growth on these platforms.
Consider promoting a blog regularly or post exciting photos and videos relevant to your business to keep your audience engaged. A potential customer would be much more likely to shop from you if your content appeals to them.
Start your phone delivery business with Yelo right away!
The traditional way of working a business isn’t cutting it anymore. As we are entering 2021, being available for customers online is now a prerequisite. With the online market booming, the requirements to start a business are getting more accessible.
You can now chuck the stress of starting a new business and the technicalities needed to launch one with Yelo. Starting an online business is as easy as a few clicks, and you will be well on your way with your new venture!
With Yelo, starting an online phone delivery business has never been easier. With agile customer-ordering apps and a unified dashboard to manage your orders, Yelo hyperlocal marketplace builder makes running an online business easy!
Book a free demo with us and avail your 14-day free trial with Yelo now!