Is 5G Crucial For B2B Companies In 2023?

Since 2019, the 5G network has been rolling out across the world, but it’s taken a fair bit longer than many people expected. This is mainly to do with its complexity. Compared to 4G and 3G, 5G networks are far more complex than previous generations.

Similarly, because of higher frequencies, each “5G site” is covering a smaller area than before, which means more equipment needs to be installed in more places. This, along with several other factors, is why we are coming to the tail end of 2023 and still do not have 5G fully incorporated.

But having said that, there are regions in the UK that are fully caught up with the 5G wave. This also means that some companies up and down the country have access to the 5G network, while other countries do not.

In terms of competition, then, this has created a bit of a sore point. For instance, how can a B2B company in the south that rivals a similar B2B company in the north realistically compete if they are already one step behind? Does it matter that one company might be operating on an older network, while another is operating with the latest? We’re going to take a quick look below:

The Problems – And Strengths – Of 5G

The problem with a slow 5G rollout comes from the benefits that 5G offers. These are as follows:

• Better Connectivity
• Lower Latency
• Greater Speeds
• Greater Capacity For Remote Work
• Better Power For Other Technologies
• Improved Bandwidth

All of these benefits are evidently going to prove integral for B2B companies. After all, a big part of ensuring customer loyalty is by speeding up operations, optimising efficiency, communicating and delivering to the customer in as short a time frame as possible. On a 5G network, operations like this become easier and more productive. But damaging for companies that go without it.

Organising The “Whole”

Say that you are running a B2B company, with several remote workers, that operates through resellers. That’s a lot of avenues you have to build upon and connect with. And of course, the more connectivity, capacity, and higher speeds that you have, the easier it becomes to connect with your staff, optimise your reseller incentives programme, and connect with the “whole” of your company.

This is important when it comes to standing out from competition. If, however, your competition is able to do everything that you can do at a faster rate, with new tech, and better capabilities, then they are likely to have better productivity, efficiency, and ability to entice customers and make them loyal to them.

What Can You Do?

So with the UK still slow in the 5G rollout race, what exactly can you do to ensure you don’t fall behind if you are in an area without the latest network? First off, we mentioned incentives earlier, and this is the most important thing for any B2B company: giving your customers incentives to stay loyal to you. In this way, you need to invest in a strong loyalty program, and also make sure that you are doing everything you can to market efficiently with all your clients.

Make sure channels like social media, email, LinkedIn, and in-person events are prioritised. Don’t become complacent with the customers you have, as there will always be competitors looking to draw them in. Running a good B2B company is not necessarily about what you have, but how you use the resources that are available to you.