Broadband and business: Why you should be on the ball

Written on 13 March, 2014 by TPP Wholesale
Categories: E-commerce, Online Marketing | Tags: online business

While debate rages over which broadband infrastructure Australia should invest in, the issue your business should be focusing on is how well you are utilising the current technology.

Investing in web presence

A web presence is a real necessity for businesses hoping to thrive, and those who've already been savvy enough to invest in up-to-date technology are the ones who tend to be turning a higher profit than their unconnected competitors. As Australia moves increasingly online, and with new broadband infrastructure just around the corner, this divide is only likely to widen.

Consider the fact that one in five Australians isn't yet online and the impact their engagement with new broadband rollouts could make to your bottom line. Invest in understanding how your audience might interact with the new generation of broadband, what differences it will make to their lives and how you could harness its power.

The next generation of broadband

Research from the Australian Centre for Broadband Innovation drew from raw Australian Bureau of Statistics data and international peer-reviewed analysis to discover that businesses investing in broadband enjoyed economic benefits. While these benefits were not always apparent in the short term, they could be clearly identified over a five-year period.

The ‘Broadband Impact and Challenges’ report also indicates that simply establishing an online presence is not enough – it is the way a business uses its platform that has the biggest impact on its profitability. Firms that are unable to adapt to changing technology and new software developments are in danger of being left behind and, ultimately, failing.

A lack of engagement

The research also addresses a pressing concern when it comes to the adoption of digital services by small businesses, many of which have failed to move their operations online. Potential roadblocks for these businesses could be a lack of skill and education in web-related areas and a deficiency of trusted technology suppliers.

There are some basic areas of online engagement that most small businesses should be capable of achieving, such as making sure they have a findable online presence and the capability for customers to get in touch or order products through their website. However, to take full advantage of the coming technology, businesses will need to innovate.

The future of innovation

The way that you are able to engage with broadband and digital services is crucial in helping your business achieve desirable outcomes – and it will be up to you to design the parameters that will help you achieve these successes.

To date, much of Australia's online engagement has been lacking in clear and effective strategy, and it is only by continuing to engage with peers, experts and technological advancements that your business will be able to drive a better future online.