Modern business is extremely competitive due to globalization and the enormous investments needed in technology. Just to stay ahead of the curve, a business must utilize new technologies. One of the new technologies that modern businesses are finding extremely beneficial is Web or Video Conferencing.

Video Conferencing and Business

With the availability of high-speed networks, video conferencing has definite advantages over other methods of communication. We’ve described some of them.

1. Increased productivity

Setting up a meeting online enables more people to participate and solve problems faster. This type of meeting allows your business to optimize the operations and improve management efficiency.

It also enables you to take your business operations in multiple directions by managing several projects in different locations simultaneously.

In the competitive business environment of today, even a small delay in making a decision can cost your business money. That is why instantaneous communications using online meetings is so powerful.

2. Video Conferencing reduces travel costs

Utilizing video conferencing can significantly reduce your travel costs because people no longer need to attend meetings in person. Anyone can participate in the online meeting by simply switching on their laptop and joining the meeting.

The cost to participate is a few cents for electricity, the cost of the high-speed connection and the fee to subscribe to a video conferencing service. Compare this to the cost of air travel, rental car and hotel, and the savings really add up.

This is actually the main reason why video conferencing was developed in the first place, to save money on travel. Today it has evolved to the point where most business meetings are routinely conducted using video conferencing because of its convenience and the availability of high-speed connections.

Additionally, since the online meeting can be recorded it enables you to share it with people who may not have been able to attend or others who need the information.

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3. Online training

One of the most expensive and time-consuming aspects of the business is staff training. And it has benefitted greatly from video conferencing.

Read also: Organizing Distance Learning Using Webinars

In the old days, a business would have to find and rent a venue, ship special equipment, bring in the instructors and then pay for all the staff to attend. Not only was this very expensive. But the employees attending the training were not performing their jobs while they were away.

Online training has changed all that because now. The employees can get their training from their desk by simply joining the online training session.

Another bonus is that if they cannot attend the live training. The training can be recorded, so they can get trained later.

4. Promotion

There has been a lot said and written about the opportunities that video conferencing provides for the promotion of business products and services. As a matter of fact, one of the best uses for video conferencing is for showcasing your business to millions of potential customers via the internet.

Recording the video conference session creates a whole new channel for marketing promotion and is in fact, one of the most powerful directions for advertising today. A company can include these recordings in landing pages to increase interest and click-through rate or incorporate parts of a video conference into direct marketing promotions.

Probably the most effective use of recordings is sharing them through social media. Today, social media is the most efficient and effective platform for any promotional campaign.

Your business can also utilize context advertising to identify people who are interested in your products and services by utilizing video conferencing to inform them about your products.

5. Powerful business communications

Video conferencing is a very important component in building a strong and ongoing relationship with both clients and partners.

Through video conferencing, you will see their reactions in real time which enables you to change direction in order to avoid undesirable results. It also allows you to address questions and potential problems thus keeping communications on track which is advantageous to you.

Without the opportunity to video conference with your clients and partners, you have less control over your business processes which reduces your chances for success.

6. Excellent customer service

The use of video conferencing to improve customer service should not be underestimated. Using a video chat or online session with your customers will enable you to address their questions instantly.

It will also clear up any doubts customers may have about your business, encouraging them to keep buying your product repeatedly.

When you gain a good reputation for customer service, by addressing your customers needs and worries as a priority, you will enjoy many benefits and customers for life.

7. No limitations

Video conferencing has no limits. This is good because the globalization of business means business operations and customers could be located anywhere in the world.

Video conferencing allows you to stay in touch with people no matter where they are located. This opens up all kinds of opportunities for growth in places you never would have thought possible just a few short years ago.

Making new connections, providing excellent customer service, dealing with issues in real time are just a few of the ways that video conferencing helps you to stay up to date with new trends and keep customers for life.

8. Improved competitive advantage

When you make the decision to integrate video conferencing into the daily operations of your business, you immediately improve your competitive advantage in the marketplace. This is due primarily to the fact that your managers will significantly improve their productivity.

Managers that utilize video conferencing to monitor operations and communicate with their team are likely to be more effective at completing projects on time and on budget.

The result is that your team will deliver products that meet customer expectations. Happy customers mean more opportunities for success.

9. Increased profit

Utilizing video conferencing by your sales team opens up unlimited opportunities for new sales. Setting up a webinar and inviting participants is one of the best ways to promote your products and services. As a result, you’ll get more customers and profitable contracts around the world.

Conclusion

The competitive nature of business today requires your business to utilize new technologies to survive and prosper. Video conferencing is one of the new technologies, that if used properly, will transform your business processes, raise overall efficiency and put you one step ahead of your competition.

To be the best you want the best to take a trial of the webinar service MyOwnConference, and you will understand why it is #1 in video conferencing.