While in the past you had to pay a hefty sum to take out print advertisements, you can now potentially reach thousands of customers free of charge via social media and online marketing campaigns.
If you’re like most business owners, you probably rely on your smartphone’s speedy connection to conduct business on the fly, whether it’s posting alerts to social media or managing your accounts with an app. All of this will be taken to the next level when the new generation of networking arrives over the next decade.
The fifth generation or 5G network is primed to revolutionise just about all aspects of technology – including marketing.
Faster Connection Speeds
To get a grip on just how 5G will change marketing, it’s first important to take a closer look at how it will differ from current 4G networks. One of the biggest differences is connection speeds. Currently in development from Nokia Networks and other telecom giants, 5G will be a mega-upgrade in terms of speed, latency, and reliability.
It will be approximately 10 times as fast as our current 4G networks, which is essential for the development of connected devices in the Internet of Things. With devices able to transfer data to each other over these super-speedy networks, this leads to vast quantities of data that marketers will have access to.
We’re already seeing live streaming take hold as a way to reach out to consumers, but with more reliable networks this will become more sophisticated. Currently, live streaming can be a big drain of your business data package, and when you have a slow connection it can be more trouble than it’s worth.
With the fast speeds of 5G, however, it will become a more basic feature that businesses of all sizes have access to. Digital video advertising will be a new, highly targeted medium for advertisers, without the restrictions of current 4G networks.
Another area of technology where marketers will be able to play around in a bit more is virtual reality. Many are predicting that VR is going to be the hot new trend in marketing. Just as they can with live streaming, brands would be able to share intriguing live VR experiences with consumers. Rather than watching a traditional advertisement, you can take part in it.
This is a really exciting way to forge new connections in the marketing world. With 5G, it will give brands the chance to play around with new, innovative experiences that lure in new customers like no other form of advertising has been able to do.
The Bottom Line
Because it’s still in development, it’s not quite possible yet to predict what the complete outlook will be for 5G. Yet many experts in the marketing industry are quite excited by what this new technology could enable.
To begin with, consumers can expect a more personalised experience, interacting directly with their products and receiving feedback in turn. Marketing will be increasingly data-driven as a result. Advertising will become more intimate, pinpointed directly to the individual.
This can save both consumers and businesses time and money, leading to a more fruitful relationship in the future.