Another year at Mobile World Congress Americas (MWCA) has come and gone and it’s taken some time to digest it all. This was the second year a Mobile World Congress event was held in America and it was clear the industry still has a need for this group of unique businesses to come together, network, and learn from each other. Whether you were a vendor, carrier, or retailer there was certainly something to take from the event for everyone.
In case you missed it, here are a few key highlights from the event:
IoT is More Than Just a "Thing"
When people think IoT (Internet of Things) we often think of connected technology; we typically think of how IoT relates to our own lives. Depending on a person’s lifestyle, this connection could be anything from devices in our own offices or vehicles to devices in our very own homes; there is no denying that products such as Amazon’s Alexa or Google Home are selling at a faster rate than smartphones—quite the feat!
While this shift is astounding, the amazing reality is that the Internet of Things is way bigger than the consumer. MWCA was further validation that while the consumer connection is important, IoT has unlimited potential globally. According to GSMA director Mats Granryd in his opening keynote, “the mobile industry is helping people in times of disaster, reducing inequalities, helping to preserve our world’s resources, and we are positively impacting people’s lives every day. In short, we are connecting everyone and everything to a better future, today.” Prime examples include US businesses monitoring and managing water resources or Canadian Scientists using IoT and big data for wildlife conservation.
5G is a Big Deal and We're Not Talking About Money
The average consumer would wonder why 5G is really that much better than 4G; what’s one more “G” going to do? The reality is that today’s LTE networks are facing increasing congestion and like it or not, as 4G connections grow around the world, 4G network speeds are trending down. There is a ton of work being done behind the scenes to ensure that America is a leader in 5G. And while the importance is there, we can’t expect the transformation to take place overnight. By regulating the way 5G works in a major center such as the United States, we also give even more opportunity for devices to be traded back into retailers and proved useful around the globe.
Data is Worth More Than It's Weight in Gold
Okay, we’ve been talking about data for a long time and it’s time to recognize it’s worth far more than its weight in gold. Although the price of gold can be volatile in the short term, it has always maintained its value over the long term: data is no different.
So, how can you maximize the value of your data? It’s important to use it in a practical and tactical fashion to make decisions on how to run your business. Think about how you use data to understand your sales or performance and how you take that data to run entirely new business models from management to marketing. If you don’t have the right data, you can’t make the right decisions.
The Repair Industry Has Emerged
The repair industry today is a natural progression formed out of the wireless and mobile industry. It’s a result of two very clear factors; first, that our mobile phones have become the remote controls that take charge of our lives. It’s difficult to imagine a couple of days without them, let alone thinking of the days before the cell phone. With this amount of customer attachment to their device, repairs need to happen fast and retailers need to be trusted.
The second factor is that as device prices increase, people are more likely to pay to have their phones repaired as opposed to buying something new. In fact, on average people are holding devices for 32 months and having a device repaired twice in that time! Smart entrepreneurs are looking to capitalize on this second factor, as they should. There were so many new business owners at MWCA looking for solutions to solve their repair business gaps; MWCA was the perfect place to do so.
What’s great about Mobile World Congress Americas is that it’s a huge event dedicated to the latest and greatest in the wireless industry on a local, national, and global scale. But what’s next? iQmetrix has the answer. We’ve created an event to drill down into the retail details. Join us at the iQmetrix Meetup October 21-23 where we’ll continue the discussion prompted by MWCA as well as provide you with actionable insights and takeaways that will help your business scale and thrive in wireless and repair.