When business owners consider a new investment opportunity, they don’t just look at the upfront cost—they look at the return on investment. How much money will that investment save them or generate each month or year, and how does that compare to the price of that investment?
Your internet should be viewed in the same way. Gig-speed business internet—though it generally costs more per month than lower-speed plans—often quickly pays for itself through the savings and additional revenue it can provide your business.
Consider, for example, that a gig-speed plan might cost $120 more per month than a lower-speed plan—or roughly $4 per day. If gig-speed internet allows your employees to get online tasks done in a flash—and avoids the frustration that can come with slower internet—spending that $4 extra per day is likely worth it.
“Gig-speed internet has proven to be extremely efficient in the workplace, especially with the onslaught of increased video conferencing and the need for reliable, fast-paced communication,” says Troy Portillo, director of operations at Studypool, an online tutoring platform based in Mountain View, California.
Here are four ways gig internet for business can pay for itself:
Letting your business innovate and provide additional services it otherwise couldn’t
Many business activities now rely on internet, and a faster internet connection only makes them happenly more efficiently. But gig-speed can also open the door to the adoption of new technologies, tools and products and services that can help you grow your business.
Consider a restaurant that wants to offer more TVs with streaming for customer entertainment or a retailer that wants to embrace emerging technology, such as by rolling out augmented reality tools or self-checkout terminals for its customers. With gig-speed internet, you can more easily support more technologies—some that are bandwidth-intensive—and not worry about it disrupting the other online activities your business relies on.
In other words, gig-speed internet can make you far more nimble, innovative and responsive to customer needs and demands.
Bolstering employee productivity
Employees can complete online tasks faster with gig-speed, meaning they can do more with their time. If one employee who earns $40 an hour saves just 10 minutes a day thanks to having ultra-fast internet, they are effectively saving their employer nearly $7 per day—well more than the additional cost of gig-speed for the entire business.
“With slower internet speeds, a surprising amount of time is wasted waiting for files to upload, web pages to open or downloads to complete,” says Rex Freiberger, CEO of Gadget Review, a tech gadget news site based in Los Angeles. “Gig-speed internet also provides a smoother videoconferencing experience, which is especially beneficial for businesses with remote or hybrid workers.”
Bringing video usage and streaming to a new level
More companies are seeing the power of video whether to their marketing strategy or other online customer engagement efforts. Some businesses are even using live-streaming events to showcase their expertise or sell more products.
Because video is one of the most bandwidth-intense activities, if a business wants to use video to engage and sell more, it should consider investing in an ultra-high-speed internet connection like gig-speed to ensure it can produce, upload, download and stream videos quickly and without causing time-wasting delays.
Enhancing your customer experience
If your customers interact at all with your internet connection—such as using guest Wi-Fi at your physical location or using an e-commerce site that you host—they will appreciate an ultra-fast connection. Moreover, your employees can serve them faster if they can access and use their online tools faster.
Your customer experience is a valuable extension of your business, and you can’t dismiss how much your internet speed contributes to that experience, says Boris Jabes, co-founder and CEO of Census, a San Francisco-based data-integration platform.
Adds Jabes: “When customers can reach you quickly and easily, they are more likely to do business with you.”
Ready to get Spectrum Business Internet Gig at your business, or want to learn more? Contact us at 855-299-9353.Print this article