Flashy Ads. Glamorous models. Breathtaking Features. Amazing Specifications. We all get enticed and drawn to advertisements for new smart-phones, making mental notes to check out the latest model for the advertised smart phone as soon as we get the time. The little voice in your head warns you to heed caution and check your account balance first; buying the latest cell phone might leave a huge dent in your saving and unprecedented financial pressures in the future where you might be left to rue your purchase. Fret not, for we have some savvy advice for you when it comes to purchasing your next smart phone and which trends to look out for to avoid being drawn into a hype that you might regret later. If you want to find out how you can save money on your next smart phone purchase, carry on with this read and grasp the nifty bits where we guarantee and recommend, making your purchase worthwhile.
Hype is a Big NO-NO
New releases of smart phones are followed by a great deal of hype in the general populace. It isn’t uncommon to see huge queues outside electronic stores just before the launch of the latest model. This is where the manufacturer maximizes the profits by cashing into the overall consumer hysteria. In marketing jargon, this is referred to as the ‘sheep effect’ where more people go for the product after seeing a great deal of hype about it. This is exactly the kind of effect you should avoid; otherwise you will just be another profit statistic at the company’s annual board meeting. The ideal thing is to wait for the hype to die down, the market to settle and find the right price at the right time. To sum it up succinctly: by falling into the allures of new launch, you will pay a higher price for the phone when you can get the same product for a lower price in the near future. Patience is the key because the proverbial early bird won’t catch the worm in this case; it will actually end up costing you an arm and a leg.
Another advantage of waiting out the hype is that you are able to review the market feedback of the new smart phone. The device may have been advertised as the next big thing, but it might turn out to be glitch ridden and not up to your expectations. Therefore it is better to wait for a period in which users of that product can review it and provide feedback which might sway your decision over purchasing that specific model. This way, your decision is based not only on your own taste, but the gauge of performance by users who have had the opportunity to “fiddle” with it post launch.
Explore the Market
A common mistake that many consumers make is the act of hasty decisions when it comes to buying a new smart phone. Let’s take a look at the usual shopping venture of a novice consumer:
They check the first two shops -> make up their mind -> present their credit card.
A savvy shopper never makes this mistake. In fact, we will give you an additional tip when it comes to exploring the market. Searching for a new smart phone shouldn’t start at the mall; it should start at your home. Utilize the internet to get an idea of the latest smart phones on the market, the price range you should expect as well as the latest specifications to look out for. You would be amazed to find out how much easier the internet makes the decision making process for you as to what model to buy. Best part about searching on the tech websites is that they provide an impartial review on the pros and cons without any bias. With these recommendations, you may stumble upon a smart phone with high specs within an affordable range you didn’t know existed before. This also gives you an idea of what to expect when you go to the mall and how to avoid being drastically overcharged. Having a smart market sense is key, and the internet is a terrific aid for this knowledge. The next tip is to search for special deals or discount prices that a particular store might be offering. Discount stores and wholesale outlets may prove to be a bargain stop if you know when they offer their promotions.
Utilize the Hype
This might sound strange to you especially when we stressed so hard not to fall for the hype during the previous paragraph. But focus on the first word: UTILIZE. When a new model comes out in the market, the hype it creates overshadows the previous model as well as the models that different manufacturers provide. This is when the prices of said models fall drastically because everyone’s attention is on the latest thing. This is the time when you can get your bargain deal. If this strategy is looked into with a keener eye, you will realize that it has huge dividends. Not only do you manage to save money while buying a smart phone, you effectively ride the hype wave and come out victorious when buying a cell phone with specs of slightly lesser quality than those found in the latest model. The important thing to remember is that these phones still cater to your needs regardless. A really good example which will kick up a notch for this argument is the release of the iPhone 6s. When the iPhone 6 was released, prices were sky high and the consumers even had to spend a huge amount of money for the lesser storage memory versions. Fast forward a year and the same models were available for reduced prices when the iPhone 6s was released. Here you have a substantial difference in price with bearable differences in terms of specifications. This is exactly the strategy of “wait and see” that allows you to delve into your pockets for a high end smart phone without paying huge sums of money for it. You just have to stay stronger than the hype in order to utilize and overcome.
In some cases, you might get lucky and find a discount deal on a cell phone by a different manufacturer which has slashed its prices to gain a foothold in the market. In either situation, this proves to be a win-win scenario for you. Another huge advantage of this strategy is a stable and bug free operating system in your smart phone. This is because the company has already worked out the kinks and removed any issues with the operating system in the previous model of the smart phone. This means your experience isn’t fraught with frustration or glitches and you will be able to enjoy the experience overall. You can also be assured of the updates that the manufacturer might release in the future because they are platform compatible with the older models of the smart phone.
Beware of the Up-Sells!
Often in purchases made for a recent smart phone, the store might try and entice you with accessories that you don’t really need. Those flashy new earphones or that metallic finish on the back cover might look really attractive, but the store is tantalizing you into a deal which isn’t actually beneficial for you. High chances are that you would be able to find the same accessories for lesser prices in a thrift shop or on amazon. It is manipulation of the shopper’s psyche to bombard them with flashy deals that seem very reasonable at first glance. Remember, these are just bait tactics which you are prone to be caught in. After all, who doesn’t want to jazz up their latest smart phone buy with some cool accessories? But the store offering you this allegedly ‘mega’ deal isn’t the right place to get these accessories. There are numerous other options which can be explored that are cheaper, viable and often of better quality. Another gimmick used by stores for new smart phones is offering extended warranty on their product. If you drop your phone often or have a tendency to juggle around with your device a bit, we wouldn’t stop you from getting this. But on a general trend, these warranties usually go unclaimed because the smart phones themselves are getting sturdier in terms of fall protection and users have started buying accessories such as bumper cases and tempered glass protection which secures the smart phone quite effectively. You might end up paying for an extended warranty which you never really needed in the first place.
Watch Out for the Contract Renewal!
A shrewd eye always picks up a bargain. When your phone contract is running out, you can negotiate with your service provider and show your willingness to renew your contract for a longer duration if they upgrade your smart phone. This is one golden tip which usually works quite well, since the service provider is unwilling to let go of their customer. You can get yourself a huge discount in this contract negotiation which might not be available in any online store or on amazon. The downside of this deal is that you have to stay with that provider till the agreed length of the contract. But if you chose this carrier before, you would obviously be satisfied by their services so much so that you are considering renewing your contract for a second time with a smart phone upgrade.
Shift to a Different Carrier
Let’s see the flipside of the above mentioned strategy now. Service providers are on the look-out for long term customers and are often willing to offer great deals that include new smart phones for slashed prices. This is because a long term customer provides steady and assured revenue. This is where you use this tactic to your own advantage. If the above mentioned strategy of negotiating with your current service provider doesn’t pay off, you can always switch to a different carrier after your old contract is over. Usually, with the launch of a new smart phone, carriers often advertise attractive deals that come with a long term contract. So if you wish to switch your carrier, this would be the ideal time as you might get the latest smart phone as well as a better service provider which offers a more economical plan.
Review your Monthly Plan
Let’s consider the scenario where you have splurged your cash on a new smart phone. The story doesn’t end there if you have bought your phone in a contract. There are little corners that you can work around which will save you money in the overall cost of the smart phone. Intrigued? Let us elaborate further.
If your plan includes unlimited data, you are being charged a hefty amount for it. Consider your options: do you have WiFi available in your home or your workplace? If you do, you can turn off your data services and use the WiFi facility to access the internet. Limit your mobile data in places where you don’t have access to other sources of internet. You will immediately notice a huge dent in the monthly cost that you otherwise would have had to pay with unlimited internet. Similarly, review your total usage of minutes and text messages before committing yourself to a long term contract. You might be able to select a plan that offers free minutes and text messages within the limit of your use thus helping you reduce the cost of your monthly bill. Also, check with your service provider whether you qualify for bonus talk time in case of specific data or text message volume. Another option that we often overlook is the availability of special discounts if you fall in a certain cadre of age or profession. Most service providers will offer decent discounts to students if they have proof of their current studying status. Similarly, people employed in such sectors such as teachers or professors can also take advantage of this discount. Long term customers might be able to tap into a loyalty bonus for sticking with the same network for a longer period of time and could be offered newer smart phones at significantly reduced prices.
Conclusion
I hope you enjoyed reading this article and hopefully it will save you some benjamins. If you have other ideas about how to save some money on new phone purchase, let me know in the comments.