The increased availability of high speed internet access has changed the way society itself works, including the way that businesses and consumers interact. High speed access allows businesses to reach out to consumers with unprecedented connectivity, and to explore different models of business. Fast internet access also allows many businesses to cut down on their overhead.
Connecting To The Customer
High speed internet gives businesses an ease of access directly to the consumer. Because many customers now have high speed access not only on their computers but also on their tablets and cellphones, businesses are able to reach out to the consumer wherever they are. Many businesses are building applications that consumers can use to explore their stores and their product and service lines on the go. This is all feasible now because the online storefronts can load quickly and attractively.
Many businesses are seeing diminishing overheads thanks to high speed internet access. Businesses can move their technology and data to the cloud rather than having to invest in expensive computer systems. Businesses can also take advantage of new technology such as internet phone services which are significantly cheaper than traditional telephone technology. Telecommuting is another way that businesses can diminish overheads by hiring outsourced, telecommuting labor. This saves on labor costs, payroll taxes, and also rent taxes because the physical office can be downgraded and downsized to support less staff on the premises.
Not only is telecommuting possible with faster internet speeds, so is completely outsourced employment. Businesses can outsource their employment to lower cost areas in order to save money. Because the world has now become globalized there are many workers from other countries that are eager to work with businesses in their industry of interest. This is a situation in which both employer and employee win, because employers can pay these employees less, and because the employees are still getting paid an amount much larger than they would otherwise gain locally. There are many countries today who are now economically booming due to this type of labor trade.
High speed access has also increased the advertising opportunities for businesses. Previously advertisements were limited to irritating banner ads and pop ups, but studies have proven that video is more effective. Now that most consumers have fast internet speeds, it’s possible to create video ads similar to commercials that can catch the attention of the consumer and explain products and services much better than a flat ad. Many websites are now taking advantage of these types of interstitial ads, and they have proven far more productive than traditional advertising techniques.
High speed access has even developed entirely new industries. Streaming media is growing as an industry, and streaming video services and streaming radio services are quickly replacing traditional technologies. Developing applications for mobile devices that have high speed access has also become a huge industry that is seeing significant and fast growth. The future of media itself is likely within industries centered around leveraging high speed access to push data to the consumer quickly and effectively, and it’s impossible to say how these industries may grow in the future.