Video conferencing is not exactly new to the business communication scene. Yet despite the array of video conferencing solutions available today, plenty of businesses are still stuck on audio-only setups, hesitant to make the financial or psychological plunge into the multimedia world.
However, research indicates that video conferencing’s tide may be turning. Market analysis firm IDC forecasts that the video-as-a-service (VaaS) market will see a compound annual growth rate of more than 25% by 2018. Aragon Research predicts that 50% of businesses will have some form of video content management by the end of this year.
Video’s versatility complements a number of use cases, beyond traditional conference calls. As business and IT leaders contemplate their video investments for 2015, consider these four ways the technology can help support staff and grow their operations.
1. Hiring: Use video to reach new candidates
Finding and keeping the best talent is one of the most pressing challenges businesses face today. With video conferencing, HR and talent acquisition teams can broaden their search (without being limited by geography) and interview a larger candidate pool in a short period of time.
Compared to phone interviews, video also lets hiring managers get a better feel for candidates’ personality and professionalism.
2. Training: Video conferencing enhances professional development
In its “2015 Predictions for Talent Development,” Bersin by Deloitte called out the growing importance of staff training and professional development programs. Specifically, employees are clamoring for new training delivery methods (e.g., virtual programs, on-demand learning) and more digital content.
Video conferencing tools allow businesses to transform one-off workshops or training demos into a library of development resources that staff can reference anytime.
3. Interaction: Encourage collaborative presentations with video
Our own research revealed that more than 4 in 5 employees find ways to divert their attention during conference calls. Most companies could benefit from spicing up their regular board meetings, team calls and project check-ins.Attendees are more likely to pay full attention when they can be seen during a meeting.
More importantly, adding a multimedia component increases the chance of participants wanting to tune in. As businesses expand their geographic footprints with new offices, remote workers and third party service providers, video presents a way to maintain strong communication, regardless of location.
It also goes a long way in making those who work from home offices and never get to meet their coworkers feel more included.
4. Innovation: Video conferencing for customer interaction innovations
Video conferencing solutions don’t just influence the way businesses operate internally; they can have customer-facing impacts as well. Across industries, companies can deliver more personalized, prompt service with the help of video.
Many healthcare providers are starting to offer telemedicine services—diagnosing patients via phone, video and online channels—to expedite patient care. Retailers and other B2C sectors are tapping into the power of video to augment their real-time customer service and call center capabilities.
Looking ahead, it’ll be interesting to see how businesses capitalize on mobile video conferencing technology (e.g., FaceTime, Google Hangouts) to reach audiences anytime, anywhere.
Has your business invested in video conferencing yet? What impacts has the technology had on your employees or customers? Let us know in the comments section.