Four types of businesses that could benefit from fiber internet
Behind almost every brick-and-mortar storefront is a business that depends on fast, high-capacity, dependable internet. The overlap between online and offline commerce can be greater than we think. A single service interruption can lead to lost revenue. Broadband options include DSL (data subscriber lines), cable, fiber, and even satellite. But what type of internet connection is best for businesses? Read on to learn more about how the benefits of fiber internet can help businesses of all kinds.The benefits of fiber internet for businesses
The Federal Communications Commission (FCC) defines high-speed, fixed broadband as an internet connection providing:- Minimum download speeds of 100 Mbps (megabits per second)
- Upload speeds of 20 Mbps or more.
What type of internet connection is best for businesses?
Not long ago, the recommended internet speed for small businesses was a mere 75 Mbps in some areas. That’s enough for video streaming, file sharing, and point-of-service (POS) transactions (including payments with credit cards and mobile devices). That estimate assumes that only five to ten devices are online at the same time. For cloud computing, the recommended minimum download speed is 150 Mbps. Video conferencing (as opposed to streaming in one direction) requires even faster upload speeds. And if your business has more than 30 employees working on both phone and internet lines, you’ll need at least a 1 gigabit per second (Gbps) plan. Quantum Fiber offers mega-fast multi-gig speeds (up to 8 gigabits) that have your business covered now and well into the future.Industries that rely on dedicated business internet
From publicly traded corporations to sole proprietorships working out of a garage, nearly every business needs dedicated business internet. Internet services for small businesses can help local manufacturers reach a wider customer base. It also helps entrepreneurs work from anywhere. Here are just a few examples of how the benefits of fiber internet can make your business better.Retail
Ecommerce now represents about 22% of total U.S. sales. While most sales still take place in-store, those same stores rely on broadband internet to hit their revenue goals. Retail giants, for example, integrate their online and offline experiences by letting customers order products online for curbside pickup.
But you don’t have to be a big corporation to see the benefits of fiber internet. Omnichannel shopping experiences can increase retail revenues by up to 10 percent. There are many ways brick-and-mortar stores can become “brick-and-click” stores.
- Ecommerce integration: By integrating existing logistics networks into their ecommerce portals, retailers can synchronize both their online and offline inventory. This helps to ensure they don’t order too much (or too little) inventory.
- Contactless POS terminals: Customers now expect the convenience of contactless checkout and self-checkout. By tapping their phones or cards, customers can save time — and retailers can serve more customers.
- POS system data: Information from POS terminals helps retailers measure customer loyalty, a physical store’s impact on online sales, and more.
- Augmented Reality (AR): AR allows customers to learn more about products in real-time, helping them to make more informed purchases.
To incorporate these technologies effectively, business owners require more than increased bandwidth. They need to know they can count on that bandwidth when they’re at their busiest. That’s something fiber internet can provide.
Restaurants
People used to order take-out and delivery strictly over the phone. Now, diners use third-party apps like DoorDash and Grubhub to satisfy their cravings. Even small, local establishments use separate payment processing software to accept payments online. By integrating those platforms with their in-store POS systems, restaurants can reduce errors and streamline the payment process.
Restaurants can use POS integrations to schedule reservations and events, manage inventory, prevent loss, and update menus. The more integration, the clearer the benefits of fiber internet become.
Construction
Few industries are more location-dependent (“offline”) than construction. Contractors literally build the bricks and mortar for brick-and-mortar businesses. Yet they depend on broadband connectivity to maximize their business operations.
Omnichannel digital platforms can account for up to 70 percent of construction equipment rental revenues . Those platforms can increase equipment rentals by as much as 200 percent . Contractors and suppliers also depend on integrated telematics to maintain their fleets.
Integrated platforms can’t do much without reliable broadband. That’s where the benefits of fiber internet come in. Fast broadband speeds help contractors get projects done on time and on budget.
Healthcare
By 2018, specialists in 76 percent of U.S. hospital systems used telemedicine in some form. When the COVID-19 pandemic hit, telemedicine use skyrocketed by a whopping 766 percent. By 2022, the number of physicians using telemedicine had doubled.
Patients in rural areas stand to benefit more than most from telemedicine. They have to travel greater distances to reach the nearest hospital. For some, going to the doctor for a simple check-up can be an all-day event. Without a solid broadband connection, rural populations can’t take advantage of telemedicine. Neither can patients with disabilities, who may have a harder time traveling even short distances.
Increased broadband gives more people equitable access to healthcare. In rural Routt County, Colorado, for example, the benefits of fiber internet have helped the UCHealth Yampa Valley Medical Center pivot to telemedicine .
Learn more about the benefits of fiber internet
No matter what kind of business you’re in, the only way to stay competitive is to stay connected. Fiber internet provides a fast, stable, and most reliable way to do that. To learn more about what the benefits of fiber internet can do for your business, visit our website.
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