Sean Duffy, Managing Director and Head of Technology, Media and Telecoms at Barclays comments:
A mobile strategy is fast becoming invaluable to businesses looking to succeed beyond the competition. The newly-announced partnership between EE and Tech City highlights the importance of 4G and the need for new strategies to engage with customers, who will be exploiting increased broadband speeds through their mobile devices.
But while those businesses in Tech City might be able to take advantage of the other services better delivered over a 4G network, recent research from the Technology, Media and Telecoms team at Barclays revealed that businesses operating online could stand to miss out on significant opportunities because of a lack of forward planning when it comes to a mobile strategy. The survey revealed that 89% of online businesses are yet to optimise their website for mobile traffic, or haven’t developed an application through which consumers can interact. This was a surprising oversight given that the average online business we surveyed generated 27.8% of their revenue through mobile in 2012.
When asked about 4G, the research also revealed that online businesses are not fully aware of the impact 4G have will have on their websites, with only 11% of companies questioned understanding the potential business benefits it will bring. In order for new businesses to fully leverage the benefits of 4G, they should invest in the mobile side of their business, by developing mobile apps and websites for their consumers that will handle the increased traffic that they could receive as a result of its growth.
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