Mediaboss Marketing

Lets face facts, the majority of accounting firms in this country are either flatlining or in decline. Firms are struggling to grow and they are now characterised by an ageing client base. Their brand is stale, they have no real point of difference and they have been reduced to what I describe as compliance sweatshops.

No doubt, the commoditisation of compliance work through the automation of data entry and outsourcing finds these firms under pressure. The profession is being disrupted in so many ways and firms who follow the SALY (same as last year) model with a total focus on compliance work are going to pay the price.

As we all know, in business, the definition of insanity is keep doing things the same way and expect different results. The internet and cloud technology have changed the profession forever and marketing for professional service firms has also changed.

If youre still relying on traditional offline marketing methods to grow your firm, be warned. Flyers, local newspaper ads and Yellow Pages might have served you well in the past but they dont deliver anymore. Old habits die hard but these tactics have lost their marketing mojo. Digital Marketing is part of the new rules of business and the marketing magnets for accounting firms are all online tactics - Google searches, content marketing, email campaigns and social media.

Research from Hinge Marketing tells us that a professional services firm generating 60% or more of their leads from digital sources are likely to be twice as profitable as firms who generate less than 20% of their leads online (source). Theres no doubt, adopting new technology and tactics can certainly present a challenge because most people prefer the old way because its easy and doesnt require a change of habits. While Im certainly not advocating you abandon all those tried and true methods, you need to know that Online Marketing techniques are significantly cheaper and provide a greater return on investment.

Reignite your referral engines

Historically, accountants havent invested heavily in marketing. They haverelied on satisfied clients referring them to family, friends and business colleagues. This has been very successful but there has been a shift. Firms with an ageing client base have seen their referrals dry up in recent years because an ageing client base full of 55 to 60 year-olds dont refer like a client base full of 35 year-olds. The baby boomer generation are in wind down mode and theyre not buying businesses or investment properties.

Theyre also not the generation setting up self-managed super funds. These services and referrals have fuelled the growth in small firms for years but its now time to turn your attention to the millennials.

These millennials range in age from 16 to 36 and have grown up in an electronics-filled and increasingly online and socially-networked world. In the US, millennials have surpassed the baby boomers as the nations largest living generation. The demographics in this country are similar and the millennials are the business owners of today and tomorrow. They have been raised under the mantra of "follow your dreams" and on average start a business 8 years earlier than their parents generation (source). They plan to work smarter than their baby boomer parents and you simply cant afford to ignore them.

Unlike previous generations, they dont rely on word of mouth referrals. Instead, they put their faith in commentary on social media channels and online reviews. When they get a referral to an accountant their reflex is to check out the firms website. Unfortunately, this is where so many accounting firms let themselves down. In many cases they are finding an accountants website that is just an electronic brochure that lists the who, what and where of the firm. Its not the first impression that most firms are proud of so if your website isnt generating a constant stream of new clients then its time for a makeover.

Brand or bland?

Dont underestimate the valueand importance of your brand. Millennials expect a modern, fresh and creative look and they will pass judgement on your firm in a split second based on your online presence. Get it right and you will enjoy the spoils because online marketing is relatively inexpensive and works 24/7/365.

The search engines like Google crave quality, relevant content. If you deliver they reward you with high search engine page rankings. In turn, these online search results coupled with a lead generation website provide you with a steady stream of leads, prospects and new clients.

Doom, gloom or boom?

Unfortunately, a large number of accountants got complacent and fell asleep at the marketing wheel. In the blink of an eye they now find their brand is tired and their ageing client base is leaking with clients retiring, selling their business and falling off their perches. To maximise the value of your practise you need to attract the next generation of clients and reignite your referral engines.

Heres the big wake up call. A study of online marketing for professional services firms found that firms that generate at least 40% of their leads online grew four times faster than firms that did not generate online leads (source). They were also two times more profitable.

Its time to shift your marketing focus online and your website is your most important business development tool. Its your silent Marketing Account Executive working 24/7/365 to generate leads and new business. You need to stop thinking of your website as a cost; its an investment and you need to measure your return on investment.

Of course, marketing is a lot more than just a website and you need a marketing plan. It serves as your roadmap and if you persist with those old offline strategies youll find its like running your business looking in the rear-view mirror. A collision is just around the corner.

Lets face facts, the majority of accounting firms in this country are either flatlining or in decline. Firms are struggling to grow and how they are now characterised by an ageing client base. Their brand is stale, they have no real point of difference and they have been reduced to what I describe as compliance sweatshops.

No doubt, the commoditisation of compliance work through the automation of data entry and outsourcing finds these firms under pressure. The profession is being disrupted in so many ways and firms who follow the SALY (same as last year) model with a total focus on compliance work are going to pay the price.

As we all know, in business, the definition of insanity is keep doing things the same way and expect different results. The internet and cloud technology have changed the profession forever and marketing for professional service firms has also changed.

If youre still relying on traditional offline marketing methods to grow your firm, be warned. Flyers, local newspaper ads and Yellow Pages might have served you well in the past but they dont deliver anymore. Old habits die hard but these tactics have lost their marketing mojo. Digital Marketing is part of the new rules of business and the marketing magnets for accounting firms are all online tactics - Google searches, content marketing, email campaigns and social media.

Research from Hinge Marketing tells us that a professional services firm generating 60% or more of their leads from digital sources are likely to be twice as profitable as firms who generate less than 20% of their leads online (source). Theres no doubt, adopting new technology and tactics can certainly present a challenge because most people prefer the old way because its easy and doesnt require a change of habits. While Im certainly not advocating you abandon all those tried and true methods, you need to know that Online Marketing techniques are significantly cheaper and provide a greater return on investment.

Reignite your referral engines

Historically, accountants havent invested heavily in marketing. They haverelied on satisfied clients referring them to family, friends and business colleagues. This has been very successful but there has been a shift. Firms with an ageing client base have seen their referrals dry up in recent years because an ageing client base full of 55 to 60 year-olds dont refer like a client base full of 35 year-olds. The baby boomer generation are in wind down mode and theyre not buying businesses or investment properties.

Theyre also not the generation setting up self-managed super funds. These services and referrals have fuelled the growth in small firms for years but its now time to turn your attention to the millennials.

These millennials range in age from 16 to 36 and have grown up in an electronics-filled and increasingly online and socially-networked world. In the US, millennials have surpassed the baby boomers as the nations largest living generation. The demographics in this country are similar and the millennials are the business owners of today and tomorrow. They have been raised under the mantra of "follow your dreams" and on average start a business 8 years earlier than their parents generation (source). They plan to work smarter than their baby boomer parents and you simply cant afford to ignore them.

Unlike previous generations, they dont rely on word of mouth referrals. Instead, they put their faith in commentary on social media channels and online reviews. When they get a referral to an accountant their reflex is to check out the firms website. Unfortunately, this is where so many accounting firms let themselves down. In many cases they are finding an accountants website that is just an electronic brochure that lists the who, what and where of the firm. Its not the first impression that most firms are proud of so if your website isnt generating a constant stream of new clients then its time for a makeover.

Brand or bland?

Dont underestimate the valueand importance of your brand. Millennials expect a modern, fresh and creative look and they will pass judgement on your firm in a split second based on your online presence. Get it right and you will enjoy the spoils because online marketing is relatively inexpensive and works 24/7/365.

The search engines like Google crave quality, relevant content. If you deliver they reward you with high search engine page rankings. In turn, these online search results coupled with a lead generation website provide you with a steady stream of leads, prospects and new clients.

Doom, gloom or boom?

Unfortunately, a large number of accountants got complacent and fell asleep at the marketing wheel. In the blink of an eye they now find their brand is tired and their ageing client base is leaking with clients retiring, selling their business and falling off their perches. To maximise the value of your practise you need to attract the next generation of clients and reignite your referral engines.

Heres the big wake up call. A study of online marketing for professional services firms found that firms that generate at least 40% of their leads online grew four times faster than firms that did not generate online leads (source). They were also two times more profitable.

Its time to shift your marketing focus online and your website is your most important business development tool. Its your silent Marketing Account Executive working 24/7/365 to generate leads and new business. You need to stop thinking of your website as a cost; its an investment and you need to measure your return on investment.

Of course, marketing is a lot more than just a website and you need a marketing plan. It serves as your roadmap and if you persist with those old offline strategies youll find its like running your business looking in the rear-view mirror. A collision is just around the corner.

Here is the original post:
Accountants Caught Asleep at the Wheel! - Accountingweb.com (blog)

CANNES, France Marketers are used to being the sideshow to the main event, whether its ads in a magazine, tents at a music festival or commercials during the Super Bowl. So imagine a conference where marketing is the star and pretty much everyone who attends specializes in attention-getting. Toss in the French Riviera and you have what is known as the Cannes Lions International Festival of Creativity Awards.

The annual Cannes Lions, established in the 1950s to honor the best in marketing, attracts executives from the worlds biggest brands and advertising agencies, as well as the top players from technology, entertainment and media. (Its unrelated to the citys famous film festival.) Their presence transformed the beachfront here last week, giving a first-timer like me the sense that I was walking through the internet in real life or IRL in web parlance.

Stretches of sand were renamed #TwitterBeach, Facebook Beach and Pinterest Pier. The pavement was painted teal, brought to attendees by Waze. Promotions for Shazam, the song-recognition app, and Oath, the newly named tie-up of AOL and Yahoo, dominated the entryways of five-star hotels to somewhat garish effect. Not enough? There was also a Spotify House and an Oracle Deck.

When I marveled over the setup to another attendee, he asked, Have you seen the yachts yet? I hadnt. Sure enough, there was a long line of luxurious boats nearby that were festooned with banners for brands like Nielsen, the TV ratings company, and the accounting firm PwC. Music thrummed from them well into the early hours of the morning, and the drinking and dancing seemed to be made safer by the fact that people had to take their shoes off to board.

At times, though, the lavish displays felt strangely disconnected from what some of the companies face in the real world. Snap, whose stock plummeted after its first earnings report last month, erected a massive Snapchat-branded Ferris wheel and had its own event space, inspiring a popular guessing game as to how much it all cost.

Then there was the exclusive evening party that executives were jockeying to get into at the glamorous Htel du Cap-Eden-Roc, where rooms cost upward of $1,000 a night. The event, which featured a performance by the Weeknd and refreshments like sushi and key-lime pie bites, was co-sponsored by iHeartMedia, the biggest radio broadcaster in the United States. The company, saddled with billions in distressed debt, has been struggling financially for some time, bringing to mind the phrase, You have to spend money to make money. Many guests continued the festivities on iHeartMedias yacht, where bartenders crouched to serve cocktails and wine from rowboats on the upper deck.

There were plenty of celebrity sightings throughout the week, with private performances offered by Stevie Nicks (courtesy of Oath), Ed Sheeran (thanks to News Corporation) and Solange (via Spotify). Elisabeth Moss, the star of Hulus The Handmaids Tale and an industry favorite from her Mad Men days, joined the party at the du Cap, where she chatted with Hulus chief executive and the founders of PopSugar as the sun set. Ryan Seacrest, Alicia Silverstone and Gwyneth Paltrow were also spotted a reminder of how sprawling the marketing world now is. (To that point, the Cannes Lions themselves no longer distribute awards for advertising, but rather for branded communications.)

Executives, despite their jam-packed schedules, seemed to be taking full advantage of the weather, donning sundresses, light button-downs and T-shirts with blazers. One said he had conducted a morning meeting during a swim in the Mediterranean Sea. Before the conference, an ad technology company offered me an interview with its chief executive while parasailing. (I passed, given that notepads and tape recorders tend not to work in that environment.)

Ros seemed like an integral part of the festival. At meals, it was poured alongside water as early as 11 a.m., and served frozen as fros in the afternoon. Cups of frozen ros slushies were branded with the logos of Facebook and the agency OMD at a beachfront cabana. Nearby, at a villa rented out by the ad agency Ogilvy, a mini refrigerator from Facebook was stocked with fros sorbet.

The entertainment from media companies often felt pitch-perfectly on brand. At a party held by Pinterest, there were cocktails inspired by Pinterest trends, described with physical cards that mimicked posts on its site. (One example: the Elderflower Champagne cocktail.) At Facebook Beach, the company hired Alexa Meade, a popular artist on Instagram known for painting objects and people and staging them so they appear two-dimensional when photographed. Visitors could take pictures to post to their own Instagram accounts. Sure enough, the dimensions baffled several of my close friends.

While interviewing an executive from Dentsu Aegis Network in an open cabana at the end of a long pier with an expanse of blue water on either side, it struck me that this was not a bad setting for networking and negotiations even if many of the attendees seemed to be transplanted from New York City at a steep cost. (One executive confessed that his flight from New York to France cost $12,000.)

Kristin Lemkau, the chief marketing officer of JPMorgan Chase, attended the festival for the first time and acknowledged how outlandish it seemed. Still, she said, it somehow made sense.

This is a relationship business, Ms. Lemkau said. It does come down to the relationships and whether you trust the person youre dealing with and trust their motives, and its kind of hard to build a relationship in a meeting.

See the original post here:
Advertising on the French Riviera: The Internet Come to Life - New York Times

Lets face facts, the majority of accounting firms in this country are either flatlining or in decline. Firms are struggling to grow and they are now characterised by an ageing client base. Their brand is stale, they have no real point of difference and they have been reduced to what I describe as compliance sweatshops.

No doubt, the commoditisation of compliance work through the automation of data entry and outsourcing finds these firms under pressure. The profession is being disrupted in so many ways and firms who follow the SALY (same as last year) model with a total focus on compliance work are going to pay the price.

As we all know, in business, the definition of insanity is keep doing things the same way and expect different results. The internet and cloud technology have changed the profession forever and marketing for professional service firms has also changed.

If youre still relying on traditional offline marketing methods to grow your firm, be warned. Flyers, local newspaper ads and Yellow Pages might have served you well in the past but they dont deliver anymore. Old habits die hard but these tactics have lost their marketing mojo. Digital Marketing is part of the new rules of business and the marketing magnets for accounting firms are all online tactics - Google searches, content marketing, email campaigns and social media.

Research from Hinge Marketing tells us that a professional services firm generating 60% or more of their leads from digital sources are likely to be twice as profitable as firms who generate less than 20% of their leads online (source). Theres no doubt, adopting new technology and tactics can certainly present a challenge because most people prefer the old way because its easy and doesnt require a change of habits. While Im certainly not advocating you abandon all those tried and true methods, you need to know that Online Marketing techniques are significantly cheaper and provide a greater return on investment.

Reignite your referral engines

Historically, accountants havent invested heavily in marketing. They haverelied on satisfied clients referring them to family, friends and business colleagues. This has been very successful but there has been a shift. Firms with an ageing client base have seen their referrals dry up in recent years because an ageing client base full of 55 to 60 year-olds dont refer like a client base full of 35 year-olds. The baby boomer generation are in wind down mode and theyre not buying businesses or investment properties.

Theyre also not the generation setting up self-managed super funds. These services and referrals have fuelled the growth in small firms for years but its now time to turn your attention to the millennials.

These millennials range in age from 16 to 36 and have grown up in an electronics-filled and increasingly online and socially-networked world. In the US, millennials have surpassed the baby boomers as the nations largest living generation. The demographics in this country are similar and the millennials are the business owners of today and tomorrow. They have been raised under the mantra of "follow your dreams" and on average start a business 8 years earlier than their parents generation (source). They plan to work smarter than their baby boomer parents and you simply cant afford to ignore them.

Unlike previous generations, they dont rely on word of mouth referrals. Instead, they put their faith in commentary on social media channels and online reviews. When they get a referral to an accountant their reflex is to check out the firms website. Unfortunately, this is where so many accounting firms let themselves down. In many cases they are finding an accountants website that is just an electronic brochure that lists the who, what and where of the firm. Its not the first impression that most firms are proud of so if your website isnt generating a constant stream of new clients then its time for a makeover.

Brand or bland?

Dont underestimate the valueand importance of your brand. Millennials expect a modern, fresh and creative look and they will pass judgement on your firm in a split second based on your online presence. Get it right and you will enjoy the spoils because online marketing is relatively inexpensive and works 24/7/365.

The search engines like Google crave quality, relevant content. If you deliver they reward you with high search engine page rankings. In turn, these online search results coupled with a lead generation website provide you with a steady stream of leads, prospects and new clients.

Doom, gloom or boom?

Unfortunately, a large number of accountants got complacent and fell asleep at the marketing wheel. In the blink of an eye they now find their brand is tired and their ageing client base is leaking with clients retiring, selling their business and falling off their perches. To maximise the value of your practise you need to attract the next generation of clients and reignite your referral engines.

Heres the big wake up call. A study of online marketing for professional services firms found that firms that generate at least 40% of their leads online grew four times faster than firms that did not generate online leads (source). They were also two times more profitable.

Its time to shift your marketing focus online and your website is your most important business development tool. Its your silent Marketing Account Executive working 24/7/365 to generate leads and new business. You need to stop thinking of your website as a cost; its an investment and you need to measure your return on investment.

Of course, marketing is a lot more than just a website and you need a marketing plan. It serves as your roadmap and if you persist with those old offline strategies youll find its like running your business looking in the rear-view mirror. A collision is just around the corner.

Lets face facts, the majority of accounting firms in this country are either flatlining or in decline. Firms are struggling to grow and how they are now characterised by an ageing client base. Their brand is stale, they have no real point of difference and they have been reduced to what I describe as compliance sweatshops.

No doubt, the commoditisation of compliance work through the automation of data entry and outsourcing finds these firms under pressure. The profession is being disrupted in so many ways and firms who follow the SALY (same as last year) model with a total focus on compliance work are going to pay the price.

As we all know, in business, the definition of insanity is keep doing things the same way and expect different results. The internet and cloud technology have changed the profession forever and marketing for professional service firms has also changed.

If youre still relying on traditional offline marketing methods to grow your firm, be warned. Flyers, local newspaper ads and Yellow Pages might have served you well in the past but they dont deliver anymore. Old habits die hard but these tactics have lost their marketing mojo. Digital Marketing is part of the new rules of business and the marketing magnets for accounting firms are all online tactics - Google searches, content marketing, email campaigns and social media.

Research from Hinge Marketing tells us that a professional services firm generating 60% or more of their leads from digital sources are likely to be twice as profitable as firms who generate less than 20% of their leads online (source). Theres no doubt, adopting new technology and tactics can certainly present a challenge because most people prefer the old way because its easy and doesnt require a change of habits. While Im certainly not advocating you abandon all those tried and true methods, you need to know that Online Marketing techniques are significantly cheaper and provide a greater return on investment.

Reignite your referral engines

Historically, accountants havent invested heavily in marketing. They haverelied on satisfied clients referring them to family, friends and business colleagues. This has been very successful but there has been a shift. Firms with an ageing client base have seen their referrals dry up in recent years because an ageing client base full of 55 to 60 year-olds dont refer like a client base full of 35 year-olds. The baby boomer generation are in wind down mode and theyre not buying businesses or investment properties.

Theyre also not the generation setting up self-managed super funds. These services and referrals have fuelled the growth in small firms for years but its now time to turn your attention to the millennials.

These millennials range in age from 16 to 36 and have grown up in an electronics-filled and increasingly online and socially-networked world. In the US, millennials have surpassed the baby boomers as the nations largest living generation. The demographics in this country are similar and the millennials are the business owners of today and tomorrow. They have been raised under the mantra of "follow your dreams" and on average start a business 8 years earlier than their parents generation (source). They plan to work smarter than their baby boomer parents and you simply cant afford to ignore them.

Unlike previous generations, they dont rely on word of mouth referrals. Instead, they put their faith in commentary on social media channels and online reviews. When they get a referral to an accountant their reflex is to check out the firms website. Unfortunately, this is where so many accounting firms let themselves down. In many cases they are finding an accountants website that is just an electronic brochure that lists the who, what and where of the firm. Its not the first impression that most firms are proud of so if your website isnt generating a constant stream of new clients then its time for a makeover.

Brand or bland?

Dont underestimate the valueand importance of your brand. Millennials expect a modern, fresh and creative look and they will pass judgement on your firm in a split second based on your online presence. Get it right and you will enjoy the spoils because online marketing is relatively inexpensive and works 24/7/365.

The search engines like Google crave quality, relevant content. If you deliver they reward you with high search engine page rankings. In turn, these online search results coupled with a lead generation website provide you with a steady stream of leads, prospects and new clients.

Doom, gloom or boom?

Unfortunately, a large number of accountants got complacent and fell asleep at the marketing wheel. In the blink of an eye they now find their brand is tired and their ageing client base is leaking with clients retiring, selling their business and falling off their perches. To maximise the value of your practise you need to attract the next generation of clients and reignite your referral engines.

Heres the big wake up call. A study of online marketing for professional services firms found that firms that generate at least 40% of their leads online grew four times faster than firms that did not generate online leads (source). They were also two times more profitable.

Its time to shift your marketing focus online and your website is your most important business development tool. Its your silent Marketing Account Executive working 24/7/365 to generate leads and new business. You need to stop thinking of your website as a cost; its an investment and you need to measure your return on investment.

Of course, marketing is a lot more than just a website and you need a marketing plan. It serves as your roadmap and if you persist with those old offline strategies youll find its like running your business looking in the rear-view mirror. A collision is just around the corner.

Read the original:
Accountant caught asleep at the wheel! - Accountingweb.com (blog)

KGW and WCNC , WCNC 9:25 PM. EDT June 27, 2017

CHARLOTTE, N.C. Drivers in Charlotte, North Carolina rank among the worst in metropolitan cities across the United States, according to a recent study.

The Queen City landed in the 14th spot on the list of worst drivers in the 75 most populated metro areas in the country. The worst drivers live in Sacramento, California, while the best drivers are in Detroit, Michigan.

The list was produced by QuoteWizard, an internet marketing service based in Seattle. The company used more than 2 million data points from users of its website to quantify driver standards in each city. The rankings were derived from a weighted sum of accidents, speeding tickets, DUIs and citations.

In an article presenting the rankings,QuoteWizardhighlighted several metro area rivalries, but among North Carolina metro areas, Charlotte at 14th was ranked worse than both Durham (20th) and Greensboro (26th).

Here's a partial list of the rankings. See the complete list here.

Worst drivers in metro city areas

Hey, California... 7 of the top 15 spots? You may have a problem.

2017 KGW-TV

Read the rest here:
Charlotte Drivers Rank Among Worst In Country - WFMY News 2

The promise of 5G includes faster internet, greater mobile connectivity for businesses, and the ability to take futuristic digital experiences like VR and AR mainstream. With such limitless potential, the question becomes just how 5G will change the way people use their devices.

To find out whats coming, I asked a group of entrepreneurs fromYEC the following question:

How do you see 5G changing the way consumers or businesses use the internet in the next five years?

The faster your internet the more you can do with it. Faster internet will allow consumers to use live video while consumers and brands interact on a real-time basis. There will also be more virtual reality opportunities on the go with 5G. Live streaming video can still be unstable with 4G, but when 5G emerges we will reach speeds that allow us to truly become one with our customers. Joe Apfelbaum,Ajax Union

Its estimatedby the year 2020,90 percentof people over 6 years old will have a cell phone. This means that if youre not focused on making your business experience better on mobile, youll miss out. Millennials like myself give something a try. You have five seconds of our attention. If your website, app or businessdoesnt work, Ill never use it again and make sure my friends dont either. You have only one chance. Make sure everything loads fast, works right and is catered to the 50 percent of the worlds population under 30 years old. John Rampton,Due

5G will bring wireless internet to businesses everywhere. Instead of having cables connecting your business to the internet, 5G will open the way for your business to consume the internet in more ways. Not only will you not be tethered to a wired system, but your workforce can take a broader bandwidth with them out in the field, giving you greater mobility and faster internet. 5G opens the door for truly wireless connectivity everywhere. Nicole Munoz,Start Ranking Now

Usually, when businesses or consumers send reports to developers after software crashes, diagnostics can take up to two hours. Withthe prevalence of Smart technology, well be looking at the connectedness of driverless cars, smart homes and meters all accessible from one point. So for instance, if a washing machine malfunctions, it will be cheaper for the consumer to fix it instead of hiring a professional, simply by sharing the data from the machine through the cloud. Consumer technology will be able to save energy depending on the scenario and machines will be more intuitive. Cody McLain,SupportNinja

Obviously mobile will rule the business space, but other technologies, like augmented reality and virtual reality, will also become mainstream and, most importantly, will change marketing as we know it. The term digital experience. which is considered just jargon today, will become associated with tangible ROIs. (Think live walking directions, on-the-go product prices, hologram video conferencing, etc.) As marketers, the world of online marketing as we know it will seep into a new realm. It just furthers the thought that all businesses must invest in futuristic digital marketing strategies. Pratham Mittal,Outgrow

To fulfill its true potential, augmented reality needsa lot ofprocessing power. For the foreseeable future, battery and processing constraints will limit on-device capabilities. Today, we have the cloud, but theres a limit to how much real-time cloud processing we can do with current bandwidths. 5G could change all that, allowing for real-time cloud processing and truly responsive augmented reality applications for mobile devices. Vik Patel,Future Hosting

As internet speeds increase because of innovations with 5G and beyond, there will be a number of very large industries that I expect will move almost entirely to mobile. One of the areas I see firsthand where people prefer mobile is online travel. With the success of mobile travel companies like HotelTonight (which is entirely mobile), consumers are sending a message that they want to leverage thebest of mobile, such as GPS sorting of hotels, access to real-time inventory, and deep discounts through auction-style pricing. As mobile speed flourishes, so will mobile travel. Obinna Ekezie,Wakanow.com

Look to South Korea, where more people per capita use the internet than elsewhere. South Korea is the world leader in internet speed with an average of 26 Mbits/s, twice as fast as the U.S. The material impact of faster network access is that more people go online. Thats why Google spends billions of dollars each year making the search results faster. Furthermore, it allows people to move to mobile-first, or mobile-only, and give up desktops and broadband. This lower cost of entry to high-speed internet only increases the pool of internet uses. Whether for B2C or B2B, this all just increases the size of the addressable market. Fan Bi,Blank Label

With faster reliable 5G internet communications, we can see larger sets of video content in live video, virtual reality and augmented reality being delivered in different consumer mobile hardware. Additional data can be sent, processed and crunched in real time for applications in medicine including medical imaging, expert systems, and other autonomous systems that can utilize intensive data processing and real-time computing of large video, images, and other data capturing sources. Nemoy Rau,US Biometrix

The companies that choose to embrace 5G mobile technology could not only decrease their operation costs internally, but also increase their connectivity among employees that either work remotely or travel frequently. With 5G projecting to be 40 times faster than 4G, businesses will be able to utilize the new speeds as well as the rise of IoT to change the way they do business with their customers and employees. Anthony Pezzotti,Knowzo.com

With current mobile technology, theres still a clear divide between on-device storage and processing, and cloud storage and processing. 5G, with its much greater bandwidth, is likely to marge that difference. The cloud will always outpace on-device capabilities, but with bandwidths orders of magnitude faster, it wont matter. Every application on a mobile device will have real-time access to almost limitless storage and processing power. Justin Blanchard,ServerMania Inc.

High bandwidth and video content will become much more prevalent. Right now, companies focus on page speed load times to make it work fast on mobile networks. With 5G, bandwidth shouldnt be a concern. The use of video content will explode with 5G, as will thepresence of 3D content. These content types will expand the type of content and how its presented, giving brands a lot more flexibility to deliver rich mobile experiences that are currently limited by todays bandwidth. Dan Golden,Be Found Online

TNW originally published this piece in November of 2016. We sometimes update and/or re-publish articles from our archives that are fun, informative, or highly-relevant like this one.

Read next: Get trained and certified with Microsoft Excel for less than $20

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Experts weigh in on how 5G could change the world - TNW