How gotradelive Helps Voice Mobile Move Faster and Grow Smarter
Voice Mobile is an independent mobile telecommunications dealer and one of four Orange Principal Partners in the United Kingdom. Highly acclaimed for its customer service, Voice Mobile has won a number of prestigious awards, including Best Dealership 2010 (Mobile Industry) and 2011 (Mobile News). It is also one of the Sunday Times Fast Track 100 companies. Voice Mobile began using gotradelive in October 2011, while the platform was still in Beta. Over this initial 10-week period, the company held 24 live trading sessions on the platform. Some 1,500 trading partners were invited to each of these events, with approximately 150 participating in the deals.
CEO Ian Watson believes gotradelive could have a transformative impact on Voice Mobile’s handset wholesale business operations. Prior to using gotradelive, these operations were seen as a “necessary evil” and cost of doing business, whereby the company would sell excess inventory from its ongoing businesses to independent dealers and retailers. With gotradelive, Watson says he believes his company will be looking for additional inventory to move on this new high-speed trading channel.
In the unorthodox commercial world of the mobile phone industry, it’s imperative that businesses are extremely efficient and able to react quickly to fast-paced market changes. That’s exactly what gotradelive is doing for Voice Mobile, says Watson. “Put simply, it has helped us become more efficient and move quicker in the market; I couldn’t ask for more than that,” he says.
"Being faster to market with opportunities and deals gives us a flying start over the competition"
“Being faster to market with opportunities and deals gives us a flying start over the competition. It literally takes only a few minutes to set up a trade and send it out to our whole database. Then, being a live, interactive tool, gotradelive gives us instant feedback on the deals so we can react immediately. For instance, if it is a very popular offer, we can try and source more product to fulfil the demand. It would take ages for our telesales staff to ring around the whole database to get the same sort of feedback.”
gotradelive has also enabled the company to achieve better margins on most deals by allowing the market to set pricing. In the past, Voice Mobile would call just a few customers with a proposed deal to move excess inventory, typically offering the product at cost. Now, it can reach out to a much larger group of customers, establishing a minimum bid at cost of goods. Customers who want the product then bid and establish a fair market price above Voice Mobile’s cost of goods. “Without gotradelive, we would only have got the minimum price,” Watson says.
gotradelive has also put an end to a common and often annoying occurrence in trading circles, called the “rotary deal.” In a rotary deal, the long delays inherent in communicating by phone lead to deals going full circle. Traders call each other trying to find buyers for inventory before they purchase it, leading to the product being offered back to the initial dealer before it has even been sold. “It’s a waste of time for everyone,” says Watson. gotradelive eliminates these occurrences by communicating with all potential traders simultaneously, so that the customer who really wants the product buys it from the initial dealer.
The result is that wholesaling is becoming a profit centre for the first time at Voice Mobile. Looking towards the future, Watson says he expects gotradelive to expand Voice Mobile’s business model, with an increased focus on buying and selling goods across a growing network of traders. Expanding that network will be a simple as purchasing relevant databases to invite to future trades. “gotradelive is a game changing tool,” says Watson. “In our industry, we live on efficiency and speed, and gotradelive gives us a great edge. I don’t worry anymore about how we will sell our goods; our focus has shifted entirely on how well we buy our stock and source great deals for our customers.”