As a B2B business, one of the most important factors when it comes to growth is not only the attainment of customers but retaining their loyalty towards your service. In the long run, this is what will transform your business from something small into an enterprise with increasing sales and a growing client base.
So far, this has best been achieved through investing in a loyalty programme, keeping businesses transparent and engaging through social media, and also forming relationships with customers with constant, efficient communication.
With the last point in mind, the introduction of the 5G network looks set to both improve and possibly hamper communication between company and client. While its internet speeds will be incomparable to anything we have experienced before, for those who do not fully understand the communication area of customer loyalty, it could also lead to clients being turned elsewhere.
So Why Should My Business Proceed With Caution?
With the full implication of 5G just around the corner, businesses can expect an internet speed which is 10-100 times faster than the speed they are used to now. As well as this, 5G will have lower latency, higher download and transmission capabilities, as well as increased connectivity. It will also aid the rise of AI technology, which is beginning to play a far greater role in automated business processes and the engagement of customers and employees.
All of this may sound positive. In many ways, it is. However, when it comes to customer loyalty, there are still benefits of face-to-face interaction which should not be forgotten.
With the global embrace of 5G, the business world can expect to rely on AI automated tasks and communication apps to keep in contact with employees and customers alike. But it is not only efficiency that clients will be looking for when deciding whether to stick with your business.
The Importance Of Human Interaction
When it comes to business, the importance of relationships formed with a human touch cannot be underestimated. For many clients, meeting face to face with businesses or picking up the phone to discuss new services, products, or the rewards of your B2B loyalty program, can substantially improve relations in a way that automated, tech-based communication cannot.
Despite faster speeds and efficiency, 5G has the potential to remove the need for human interaction, but for businesses relying on loyalty, it is crucial to maintain that interaction and keep relationships outside of a digital cloud. The traditional method of communication is not indicative of poor time management. In fact, using the time to meet with clients and show your dedication towards them will only boost your reputation and authority within your chosen industry, as you will give them transparency which they will not receive elsewhere.
While 5G is a revolutionary step on the way to a brighter, faster and more effective internet; it is not necessarily the answer to customer loyalty. It is therefore in every B2B company’s best interests to manage how they utilise it, and ensure they do not rely on a networking system to fizzle out the advantages of traditional interaction.