How to Survive and Thrive in Today's Wireless Industry

May 25, 2017 — Megan Slinn
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The wireless industry is known for big, fast changes. From the early generations of phones installed in cars, to the first handheld device, and now the vast options of phones available today, the industry is always changing.

Companies need to continue to re-invent themselves to stay afloat and profitable. Mobile and wireless connectivity have become a standard part of so many lives, and it’s evident in the following stats from the CTIA Annual Wireless Industry Survey:

  • There are roughly 369 million mobile devices in use today
  • 95% of American adults own a cellphone
  • 49% of U.S. households are wireless only
  • Americans have at least 4 options for cellphone carriers
  • Mobile penetration is up 4.6% in 2016

As a cellphone provider, what does that mean for you? Well, it’s survival of the fittest. It’s all about who provides exceptional and memorable experiences to customers. Constant changes in technology, networks, lifecycles, features, apps, services, and plans keep the industry on its toes. Competition is fierce, and you need to be adapting to the changes constantly.

Customers are in charge nowadays, and it’s all about them. They have the power to choose who they shop with and why. By the time a customer enters your store, they’ve most likely already made the decision on what they want. Every interaction your staff has with a customer is a make-or-break moment. Ensuring that your team is well prepared to answer questions and has product knowledge readily available will only make the interaction more memorable and turn a first-time buyer into a loyal customer.

Have the necessary tools

As a retailer, you need to have the proper tools at hand to stay ahead. One of the most important aspects will be your point of sale or retail management solution. Some key things to think about are the centralization of the data you collect, and the automation of what you can do with that data. When choosing your system, or thinking of moving to a new one, some areas to look at are; functionality, ease of use, customer support, core functions, and integrations.

Choose wisely

You need to be able to streamline your operations, and your POS needs to allow you to do this. Are you able to access all data from a centralized location or database? Can you reconcile commissions, manage inventory, all while having access to customer data? Does your POS have a fresh interface? What integrates with the software for add-ons such as handset protection, handset trade-in, or bill pay options? What kind of reporting is available in the POS? Are you able to get in-depth data to see how well your business is functioning? Today, your POS needs to be more than just a cash drawer. Without proper functionality, too much time is spent on different systems with no connection, so the overall picture of how your business is running is lost.

With continual growth in the wireless industry, staying one step ahead of the game is crucial. Optimizing customer interactions and having a streamlined process to see real-time data is essential.

Interested in a step-by-step checklist on ways to optimize your stores to meet modern customer demands? Check out our whitepaper titled, Survival Guide for Wireless Retailers.

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Topics: Retail Operations, POS

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