Every time new technology comes out, we have to adapt. It seems those adaptations are happening faster and faster now as new technology is released every other week. Most of the time, these changes are for the good, and you business actually benefits from it. However, mobile may be the cause of lost jobs and business as the world transforms to using mobile for everyday use.

Using mobile for banking needs

It used to be you had to go to the bank to get everything done with your account. You want to transfer money? Go to the bank. You need to deposit a check or check your balance? Go to the bank. Now, however, smartphones have the ability to do all those things. In fact, bank branches are becoming fairly useless to the banking world. This is why it is expected there will be a reduction of bank branches in 2014, according to Forbes. Though it is still necessary to keep some branches around for needs such as opening and closing accounts, discussing finances, and getting loans, they are not needed for everyday business anymore. It is almost a waste of money to keep three branches open in one city when the bank can get away with one. In this way, mobile has changed the banking industry forever.

Mobile apps for watching TV

The TV industry has been struggling to adapt as players such as Netflix and Hulu have taken over the tv-watching industry, according to the Toronto Sun. You can watch your favorite shows on your smartphone with apps. It is convenient because you don’t have to sit through commercials, usually, and you can watch it anywhere you want. In fact, mobile apps have pretty much taken over tv-watching experiences. Cable companies are losing a lot of business and struggling to get by knowing that mobile has taken over. This has led to mobile apps from cable companies encouraging more online streaming.

Does this mean lost jobs?

As you can see, some jobs will be lost if people aren’t watching cable anymore or if they stop going to bank branches to deposit checks, but there will also be jobs gained. Someone has to create and maintain the smartphone apps, and someone still has to process everything. People won’t just stop using banks or stop watching TV. They just change the way they do it.

Adapting your business

If banks and cable companies are having to change to more mobile-friendly offerings, your company will need to do so too. You don’t have to lose out on sales or lose jobs to be successful. All you have to do is adapt to more mobile-friendly methods of offering your product, and you’ll do just fine. The first thing you need to do is update your website to offer a mobile-friendly version. If you don’t have a website at all, you need to fix that immediately. Next, you’ll need to get a text program for your customers to use. If customers feel they can easily access your business and what you have to offer through mobile, you’ll be on the right track.

Sources:

Forbes

Toronto Sun