How to make more money and maximise your income with Star Trader Published: 18/09/2020 | by Star Trader

How to make more money and maximise your income with Star Trader

Having a bit of extra money is always a good thing. It means you can live more comfortably and treat yourself to the odd little thing here and there. Star Trader is an O2-owned scheme that works around your lifestyle, giving you everything you need to earn extra money, trading on either a full-time or part-time basis. 

As a trader, you’ll only be able to order a set number of free sims every month, depending on which tier you’re on. That’s why it’s important for you to make the most out of your sims, so you can maximise your income with Star Trader. To help you, we’ve put together some top tips. 

Tip 1: Only order the number of sims you need

Tread carefully when it comes to your sim allowance. If you waste it by ordering sims for the tariffs you already have fully stocked and end up running out of sims for the tariffs your customers are asking for, you’ll miss out on the opportunity to make money. 

To avoid this, always check up on your sim stock. If you’re a Gold or Platinum trader and trading on a daily basis, it would help to perform these checks at the start or end of each day. To keep things super organised, you should create a stock spreadsheet, so you can see when you’ll need to order more sims to keep your stash fully stocked. 

One foolproof way to make extra money with Star Trader is to always know which tariffs are performing well with your customers. Keeping a tally on which sims your customers are requesting will help you to understand what your customers want. If you know a particular tariff isn’t being requested as much as another tariff, don’t bother ordering it. Use your sim allowance wisely and order the sims that will bring the most benefit to you.

Make sure you use the activation tracker in your trader dashboard to keep tabs on which sims are performing best for you. Here’s a quick link, so you can easily check: 

https://www.o2startrader.co.uk/account/reports/activation-tracker

Tip 2: Don’t give your sims to time-wasters

It might sound harsh, but it’s true. If you hand your sims out to people who don’t have any intention on topping them up, you won’t make money. We’ll only pay you if your sims are being activated (topped up for the first time with £10 or more), so keep this in mind. Wasting sims can have an impact on your activation rate, which can be a major problem if you’re aiming to climb the trader tiers. We downgrade traders based on their activation rates, so if yours falls below the threshold, you’ll be moved down, which means you won’t be able to order as many sims. 

How do you make sure your customers top up your sims? Before giving your sims out to potential customers, take some time to chat to them to understand what they want from their sim and why they’re looking for a new one. Are they switching providers? Do they have a new mobile phone? Do they need more data? By getting to know your customers, you’ll also be able to recommend the right tariff according to their needs. 

Be cautious of customers who are prone to ordering sims in bulk; this often results in low activation rates. It could also mean that your account is flagged for spam activations. If this does happen to you, and we think your activations are as a result of spam, we won’t pay you and your account could be suspended as a result.

The key to making extra money through Star Trader is to learn from your mistakes; if you know you’ve wasted a sim on a particular customer in the past, you’ll be prepared for a similar situation if it happens in the future. 

Tip 3: Do your homework

Knowing and understanding everything about our various sim tariffs will mean you can answer any questions your customers throw at you. Even better, you’ll be able to assist your customers when deciding which sim is right for them. The more you know, the better your selling skills will be, which is key to making extra money. 

We have a few blogs that will help you to get to know our sims better, as well as the many benefits the O2 network can bring to your customers. Here are a few of our top picks:

As well as knowing more about our sims and benefits, you should also take a few minutes to take a look at our tips and tricks, which will help you to become a Star Trader and make more money. Most things you’ll learn along the way, like how to track your activations in the dashboard, but there are some things we can help you with. Here are some of our most helpful guides:

We update our blog regularly, so make sure you keep your eyes peeled for any updates. That way, you’ll be the first to know about any new tips, changes or offers we have. Staying ahead of the curve is key to making extra money. 

Tip 4: Consider going online

If traditional sales methods just aren’t for you, choosing to sell your sims online can be extremely effective and could save you some time. Here at Star Trader, we’re always happy to be flexible with the way traders choose to sell our sims – we know a one-size-fits-all approach doesn’t work. 

  • Setting up an online marketplace

If you’re interested in selling our sims online but don’t have the means to do so, like having your own website, have you considered an online marketplace, such as eBay or Amazon? These sorts of platforms already have a huge customer base, so the pressure’s off you. All you need to focus on is setting up your online store properly and making sure it’s managed in the right way. 

The key to making extra money through an online marketplace is to make sure you choose the right one. You’ll also need to focus heavily on customer service, as you’re likely to have a lot of competition and will rely on customer reviews to sway people’s decisions. If you are thinking about setting up your own online presence to sell our sims, take a look at our blog for tips on how to sell on online marketplaces.

During the Star Trader Success Session 45-minute webinar, we shared tips and tricks related to online selling. If you missed out, don’t worry. We’ve got a link, so you can watch the webinar as if it was happening right now. Sit back, grab a cuppa and give it a watch. 

https://zoom.us/rec/share/-sdPDLjeq0ZLT5X_sWWcdootMdm4X6a80HMXqfMNz081JDYpA_MzkW6OcpXkkCvN

  • Using an affiliate link or banner

If you do have your own website, whether that be an ecommerce store, blog, social media page or forum, having an affiliate link or banner would allow you to trade easily and make more money. 

Having an affiliate link or banner means you’ll no longer need to hand out your sims. You’re also less likely to waste your sims; customers who order their own sims after clicking on your link or banner are more likely to activate that sim. It’s a super easy way to make money online instantly.

To find out more about our affiliate links and affiliate banners, click here. If you’re interested in having an affiliate link or banner for yourself, you can request one by sending an email to our team on support@o2startrader.co.uk

Tip 5: Give your customers clear instructions

Let your customers know what they need to do in order to activate their sim to make sure you don’t miss out on the opportunity to earn more money. You might be surprised to hear that quite a few people need clear instructions on how to top up a sim, especially if they’re new to O2, as the process can work differently on each network.

There are different ways your customers can top up their O2 sim. More information can be found here: https://www.o2.co.uk/topup

Every time you order sims, you’ll receive a sim pack in the post, which also includes instructions on how to top up our sims. That way, you’ll always have the instructions to hand, whenever you need them.  

  • Follow-up email

If your trading mainly takes place online, it’s a good idea to send a follow-up email to your customers to let them know how they can top up their sim once they receive it. As it’s online, make sure you leave an email, so they can easily get in touch if they have any questions.

Tip 6: Make customer service a priority

Customer satisfaction will play a big part when it comes to trading. Without happy customers, you’ll find it hard to attract new customers and make more money. If you’re a shop owner, word of mouth will be your biggest driver. If you’re an online-only trader, you’ll rely heavily on customer reviews and good ratings to attract new customers. The bottom line is that you need to keep your customers happy to continue to be successful.

To help you, here are some of our top tips on how to give excellent customer service:

  • Go above and beyond: Make sure your customers know that nothing is ever too much trouble. No matter what they ask of you, do everything you can to help them – even if it means back-and-forth emails for hours. 
  • Create relationships with your customers: Think about the long-term. Even though repeat customers won’t allow you to make more money, as only the first activations count towards your commission, it’s important that you persevere and make lasting relationships with your customers. Word of mouth is key, but if you don’t have a good relationship with past customers, they’re not going to recommend you or your service. 
  • Don’t be rude: Never argue with a customer or say rude things, as this will damage your reputation for good. Always be friendly and polite, even if you’re receiving bad feedback from a customer. We take feedback very seriously, as it can affect us as a business, too.
  • Listen to what your customers have to say: Hear them out, as it could be something you can learn from. As the saying goes, the customer is always right, so don’t dismiss what they have to say because you disagree. 
  • Handle complaints in a professional way: Not every customer will be happy. Don’t be disheartened if you receive bad feedback. The key here is to make sure you and your team handle customer complaints properly. Don’t hide away from addressing the issue head-on, as this will create more problems. Make sure you have a process in place, so you can deal with disgruntled customers in the right way.
  • Take feedback on board, but not in a personal way: Remember that feedback shouldn’t be taken as a personal reflection on you. If it’s bad feedback you’re receiving, take it on the chin. Think of it as a learning curve and something you can use to improve your business for the future.
  • Always respond quickly: Don’t leave any query, feedback or complaint unanswered. Remember to always, always, always respond – and fast. Whether it’s an email, comment on your Facebook page or message on your Instagram page, make sure you’re always there to give a response as soon as possible. During business hours, make sure you have notifications set on your mobile phone to make sure you’re alerted every time a new query comes in. 

These are some of our top tips on how to make more money and maximise your income with Star Trader. Take note of these things and you’ll be on your way to becoming a top trader. Remember, we’re always here to help – if you need our advice or have any questions, get in touch with our team on support@o2startrader.co.uk.

 

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