It’s hard to imagine a world that’s not connected to some degree to the Internet. Indeed, WiFi coverage continues to blanket the planet, filling in new coverage gaps every month. And according to Wi-Fi Alliance, the global net worth of WiFi will reach nearly $5 trillion by 2025.
As a business owner, you and your team members no doubt rely on WiFi to keep operations running smoothly. However, you might not think about the possibilities that worldwide WiFi access brings to your organization. Indeed, as WiFi extends globally, your company may encounter plenty of opportunities to grow revenue, brand recognition, and reputation.
What Global WiFi Access Can Do for Your Business
What are some of the ways that you can use internationally available WiFi to positively impact your company? Below are four suggestions to help you achieve your short- and long-term goals.
1. Improve the depth of your customer insights.
The more you know about your customers, the better you can personalize your marketing. Widespread WiFi allows you to gain more knowledge about buyers no matter where they go. For instance, through social listening tools, you may realize that many of your repeat shoppers travel to specific countries regularly. This may seem like a small insight but could have a major impact on your messaging strategies.
As mentioned by small business WiFi platform provider Plume, the deeper your customer insights, the more easily you can turn everyday patrons into true fans. How? As the piece notes, “anticipating their needs and exceeding expectations” of consumers always puts you ahead of the competition. It also gives you an inside track to foster relationships that promote genuine engagement based on personalized content and offers.
Don’t discount the value of having lots of cheerleaders around the world. Around eight of out 10 people make purchases based on recommendations from individuals they know, says Plume’s researchers. Consequently, the more global kudos you snag from happy clients from anywhere, the stronger your sales lift could be. And that’s always good for business.
2. Improve employee sourcing and bolster DEI initiatives.
Your organization is only as strong and diverse as the professionals you hire. Global WiFi gives you the chance to tap into talented workers no matter where they call home. Accordingly, you can stretch your new-hire sourcing way beyond your current geographic boundaries.
Certainly, having an international workforce requires you to get creative. You’ll need to consider how to make workflows seamless across a variety of time zones, for example. You also may want to revamp your expectations when it comes to the timing of Zoom meetings. Nevertheless, these are small concerns when you consider how powerful your company could be with a dynamic, world-class workforce.
You can test the international hiring waters by working with globally located independent contractors initially. That way, you and the rest of your team can get accustomed to the concept of working with out-of-country colleagues. As long as everyone has dedicated WiFi, the experience should be positive for your business.
3. Expand your brand footprint internationally.
Your brand might be a national sensation—or at least on its way to becoming one. Is it well-known overseas, though? With broad planetary WiFi and 5G connectivity, your company could enjoy a bump up in recognition. Not only would this increase your total addressable market but it could inform future product innovations.
Taking your business anywhere involves planning, of course. You’ll want to construct your marketing campaigns for a different culture and audience, and perhaps in a different language. Plus, you’ll need to navigate shipping rules and regulations. You may even want to host separate websites or at least microsites as well.
To make this process as effortless and low-risk as you can, pick specific areas of the world to focus upon first. Being systematic about where you’re going to sell keeps the control in your corner. You can always enlarge your marketing “orbit.” It’s a little harder to start too big and then have to pull back.
4. Attract new investment or business partners.
Perhaps your small business has leveraged crowdfunding to raise capital. You’re not alone. The crowdfunding marketplace is lightning-hot, according to MarketWatch. In 2021, crowdfunding among United States’ startups is predicted to potentially blow past the $200 million barrier.
In addition to crowdfunding via regulated sites like GoFundMe, Indiegogo, and SeedInvest Technology, you may want to seek out international investors. Many global investors are ready to put their money behind interesting business concepts. With more reliable WiFi popping up every day on all the continents, foreign investors have a better chance of finding your company. You can start looking for angel investors from abroad by submitting funding requests on trusted international platforms.
Not interested in passing on more equity to investors but still eager to get your hands on more capital? One method to stretch your resources is to join forces with a company already working overseas. Together, you may be able to move your merchandise to the communities they serve. This type of arrangement can give you a toehold in a new-to-you territory. Just make sure you invest in cloud-based software so you and your partners can exchange information seamlessly.
The world seems to be a much smaller place thanks to WiFi. It’s also a place where smaller businesses can compete on a level playing field with much bigger enterprises. Take time to consider how global WiFi can help your organization achieve its objectives. You might be surprised at how far you can take your vision.