This Google algorithm update’s aim is to elevate the importance of mobile-friendliness of the website for better mobile users’ experience. This update doesn’t, by any means, mean Google algorithmic slap, but just to elevate the significant role of responsive websites to get maximum output on all of your efforts to serve your potential customers the best they deserve.
Questions you may have?
Will this algorithmic update affect my traffic?
Yes, certainly you may experience dramatic drop-off mobile search results (SERP) and traffic.
Will this algorithmic update affect my Desktop SERP?
Since this algorithm update meant to elevate the mobile-friendliness of the website, therefore desktop ranking and desktop traffic won’t be affected but you may experience overall drop-off in the traffic and so in the Click through rate and business revenue.
See snapshot below what Google say about this update.
Above Snapshot Reference: http://googlewebmastercentral.blogspot.co.uk/2015/02/finding-more-mobile-friendly-search.html
See how Google-bot views your webpages
Google launched a page specific tool (Mobile-Friendly Test) to check whether your webpages are mobile friendly or they need a further tweaking to get them optimised to serve your target mobile audience.
What Should You Do?
To gain a competitive edge its better you should plan to invest in responsive websites and start serving your mobile audience with true value which they deserve.