Australia is preparing for a 5G-connected future and companies now need to start thinking about how their business model will adapt to emerging technologies.
It’s anticipated that Australia will be among the first market globally to offer 5G access, with Telstra planning a world-first trial at the Gold Coast Commonwealth Games. When it does officially launch, it will not only drive new business models for the telecommunications industry, 5G is widely expected to be a crucial moment in the global evolution of IT in general.
With each new innovation in mobile technology, Australians have seen their lifestyles change.
Everything from the way we work, to the way we live — our expectations change as fast as we update our phones. And for businesses, it’s important to think about how these updates will alter the customer experience.
This year marks 10 years since the smartphone hit the market and it’s hard to comprehend the pace at which this technology has changed our lifestyles forever. We have come leaps and bounds in just a decade, and one of the most exciting things about the wireless revolution is that it is accelerating at warp speed.
In the Australian market smartphones are approaching peak penetration with ownership rising to 84 per cent in 2016, ahead of the global average of 81 per cent. As a mobile nation, Australians who are 18+ spend more time on their phones than any other digital device. And with a faster connection, you can imagine these numbers will skyrocket.
When 5G becomes a reality, the network will deliver faster access and more robust coverage. It will usher Australia into an entirely new way of doing business, creating new industries and disrupting existing ones. Ultimately, it will drive economic growth.
It’s not enough to wait until the big switch happens. Business owners need to think now about how their business will be affected by a not-too-distant 5G future.
Forward-thinking business owners are already anticipating how this technology will alter their business model. Businesses might be thinking that this will just be a faster connection, but the implications are much more significant. A next-generation network will transform the way we do business.
Businesses will be far less constrained by the concept of having a physical office, due to better-quality service delivery capabilities improving mobile engagement through enhanced business communications. Decreased operational costs means increased remote working capabilities, and promise business increased connectivity among employees to help drive a more mobile workforce.
Small businesses in particular will be able to manage their businesses and their websites without being tied to a computer.
The way customers interact with business will change, meaning marketing and customer service functions will need to adapt with it. Businesses will need to find new ways to connect with customers through the devices they use. With the expected and continuing decline of the traditional PC, it’s more important than ever to have a mobile-optimised business.
If you haven’t already, focus now on enabling your business for mobile and improve the overall experience on your website. You have one chance to make an impression, so make sure everything loads fast, works right and that you are catering to the emerging target market.
Gavin Gibson is chief operating officer of Crazy Domains.
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