Thursday, May 28, 2020

Lessons from Mobile Matters: 5G is Coming. Is Your Business Ready?

It was hard not to share the same feelings of excitement about 5G after listening to Bill Soards on Mobile Matters. Back in 2018 when Stephanie Cox first sat down with Bill on the podcast, there were a limited number of cities that had 5G; today, 5G has expanded to more than 190 markets. During the episode, Bill gave listeners a glimpse into what we can expect from the network change: increased speed and a world that rivals Black Mirror. As 5G becomes more of a reality than just a far-off dream, here are three takeaways from Stephanie’s conversation with Bill that you can implement in your business.

Embrace IoT

Self-driving cars, smart refrigerators, and even automated garbage cans are just some of the things made possible with the Internet of Things (IoT). Bill predicts that in 10 years, 20 billion devices will be connected to the AT&T network. But instead of implementing IoT into their business strategies, many businesses still struggle with getting data from connected devices to the cloud. Thanks to 5G, this once complicated task will be a problem of the past. The next challenge for companies is figuring out how to get this data to consumers.

While you’re ramping up your IoT strategy, it’s also the perfect time to take a look at how to incorporate augmented reality (AR) and virtual reality (VR) into your business strategy. 50 percent of customers are more inclined to shop with retailers using AR experiences. Take advantage of what 5G can do for your brand by making your products come to life with AR and VR.

It’s Time to up Your Video Game

Digital video is expected to grow by 19 percent in 2020. And video consumption on mobile devices continues to rise by 100 percent each year. So if you’re not using video yet, it’s time to start.

During the episode, Stephanie reinforces just how important video is to your mobile marketing strategy; brands that are using video on a landing page can increase conversion rates by 80 percent, and video in an email leads to 200-300 percent conversion rate increases. Marketers, are you drooling over those metrics yet?

Developing a robust video strategy is no small task. Video should be integrated into all aspects of the customer journey if you want to drive higher conversions and better engage with your audience. Need some help getting started? We put together a guide on best practices for video on mobile. And if you only take away one thing from our guide, remember to not set your videos on autoplay. 😡

The Evolution of Technology Has Made Consumers Impatient 

With many things in life, there’s usually a caveat. The evolution of technology and consumers’ patience has a paradoxical relationship. For those that remember waiting several minutes for dial-up, would you still wait that long for a video to load? My guess is probably not.

Good news: 5G will alleviate frustrations with its lower latency (AKA, the gap between when data is sent from the sender and when it is delivered to the receiver). We’re talking response times of two milliseconds, everyone.

And consumers’ lack of patience doesn’t only apply to load times; users’ have grown tired of poor functionality on mobile. Make sure you’re up to speed on what’s trending in mobile design. 

With 5G, marketers will be able to push out content faster than ever to consumers. Make sure your business is ready for the change by putting a concrete plan in place. Taking a pulse check on 5G won’t hurt either.