When consumers shop for smartphones, they’re concerned about getting the latest generation device for the best possible price. Aside from this, they also want a plan that suits their families’ needs and budgets. With all of this in mind, it’s a good idea to explore the various price discounts that seem to grab consumers’ attention and drive their decisions to buy.

#1 – Loyalty Discounts

Most cell phone carriers offer the best discounts to their new customers. It’s been this way since the dawn of the consumer cell phone industry, and it isn’t likely to change. Consumers often feel unappreciated in this manner; why should only the new customers get the best deals? If you offer loyalty discounts to your existing customers, you’ll quickly gain their appreciation. There are different ways to do this, too. You may offer a discount for returning customers on devices, or give returning customers a free accessory with their next device purchase.

#2 – Multi-Device Discounts

Most American households have more than one device on their cell phone accounts, and they often purchase upgrades together. This means that multi-line households spend a great deal of money when it comes time to upgrade, so they’re looking for the best possible deals. You might consider offering a discount to those who purchase multiple devices to satisfy this demand. For example, consumers may get 20% off the second device and 10% off each additional device.

#3 – Trade-In Discounts

With more and more people upgrading to the latest generation devices as soon as they’re released, there’s an increased demand for trade-in discounts. For example, with the release of iPhone 7, many people suddenly found themselves with a like-new iPhone 6 they would no longer use. If your store refurbishes and resells smartphones, consider a trade-in discount. Not only will you satisfy your customers, but you’ll also provide yourself with a brand-new revenue stream.

#4 – Service Plan Discounts

While the cost of the device itself is important, so is the monthly bill that your customers pay. They want a fair price for a good service, after all. This means you’ll need to figure out ways to provide discount “bundles” to your customers; these will improve your customer service and build your reputation, as well. You may choose to provide discounts to consumers who switch to certain plans, or you might even consider discounts to families who want to add lines for their children or parents. Again, the possibilities are endless.

#5 – Referral Discounts

Last, but most certainly not least, word-of-mouth advertising is vital for your success. There’s no better way to get it than with referral discounts. As an example, you might give your customers a discount on their next device or accessory purchase when a friend or family member they referred buys a device from you. This promotes customer loyalty, drives new business, and saves your customers money – something they’ll certainly appreciate.

There are plenty of different discount opportunities that you can put into motion for your customers, whether you want to reward them for referring their friends and family or simply encourage them to upgrade multiple devices at once.