Investing in your WiFi is something every business has to do, so it’s important that you get the most out of it. When done right, WiFi can be an incredible part of your business’s IT network. We’re breaking down what you can get in return from your connection.
Which WiFi is right for me?
Choosing WiFi can be the first challenge you face, and we want it to be the last challenge you face with your WiFi network. We always recommend choosing a WiFi that has been designed for businesses and can support a network the size a business will have. By opting for equipment designed for domestic use you are running the risk of network drop-outs, weak security, and the need for constant maintenance and additional costs.
The network Astaris always recommends is either Cisco-Meraki or Ubiquiti as these systems have both been designed for larger, business-style networks and can support all the other hardware and software relying on them. They offer super high speeds, added security, strong/reliable connections, and more.
Both options can be purchased, set up, installed, and maintained by us meaning the entire process will be stress-free for you.
How Could I Lose Money?
The main way you could lose money as a result of your WiFi is if it is constantly breaking down and needing repairs. The cost of IT call out’s can be expensive and so can the downtime.
Systems like tills, iPads, ordering systems, printers, POS systems and more all rely on your WiFi & internet connection and if you are in a sector such as hospitality or retail, this could have a huge effect on your business. Not being able to run this equipment could mean pressing the pause button on your business resulting in money lost.
A Brighton nightclub lost their internet connection on a Friday night meaning no card payments could be processed, that evening they lost approximately £25,000. This just goes to show just how important it is that your network is strong and reliable.
How Could I Make Money?
There are a few ways a business could financially benefit from having a good WiFi connection, particularly free WiFi guests and customers can join. Looking at the hospitality industry, for example, studies have shown free customer WiFi can affect diners and how much time and money they spend at your venue. A study released in 2020 revealed that 62% of businesses reported customers staying longer in their venue when free WiFi was offered, and of these, 50% spent more money.
Another way to really take advantage of your WiFi is to choose ‘Purple WiFi’. Purple WiFi allows you to collect customer data (as long as it is in compliance with GDPR regulations) such as email addresses, phone numbers, birthdays, and more… This can then be used for your marketing efforts and allow to you to advertise to these customers who have agreed to submit their information.
These ads can then also be personalised (for example, a retail business can send a promotional email for a birthday discount code using the email and date of birth they collected when they signed up for the free WiFi).
Don’t lose money because of poor security
Another disadvantage of choosing a WiFi that isn’t business suitable is the added security risks. When you stop and think about it, a lot of very valuable and sensitive information is transferred over your connection. This could include bank details, passwords, customer and employee data, and a lot more… The risk of cyber criminals getting hold of this information could land you in a fair amount of financial trouble.
The obvious risk is losing information that is valuable to your business or having it hacked, encrypted, or stolen. The amount of ransomware, phishing and other online attacks are only increasing as technology becomes more advanced, therefore you shouldn’t leave gaps in your network wide open for attacks.
The second risk you need to consider is breaching GDPR and other data legislations. Your customer’s data is just as sensitive as yours and breaching it could mean paying penalties and fines.
A recent example of this would be the major social media network Twitter’s data breach that made the news earlier in 2023. Over 200 million customer email addresses were stolen in the breach and this meant large fines and not to mention a damaged reputation for the social site. This example shows that even with large IT budgets and large IT teams, mistakes can still be made and weak spots in your network can still exist, so it’s definitely something to consider if you want to keep your businesses and your customer’s data safe and secure.
If you’d like to know more about upgrading your WiFi and internet connection, please visit our website.