7 Benefits of Using Video Conferencing for Your Business

By Ruchir C.

In this competitive world, we have seen major advancements in technology. In addition, modern business has globalized their growth in the marketplace, from conducting businesses to working remotely. However, the on-demand communications and the globalization of businesses have maintained quality internal and external relationships.

In today’s competitive world, it is crucial to collaborate with businesses via video and audio conferencing. Nowadays, more and more businesses choose to deal through online platforms providing endless opportunities to their employees worldwide.

As we’ve seen, the coronavirus pandemic has had a significant impact globally, affecting the workplace communication of the staff. But on the other hand, video conferencing saved the day by benefiting the employees. Moreover, video conferencing app development facilitated everyone globally by reducing travel and boosting productivity.

Technology has stormed the world with innovation and communication in this modern era. This article focuses on the benefits of video conferencing for your business. During the pandemic, we all have attended video calling and conferencing through our smartphones and hosted meetings.

You only need a strong internet connection for conferencing platforms like Zoom, Skype, or GoToMeeting to attend a meeting. Therefore, video conferencing has become an essential tool for innovative business growth.

What Is Video Conferencing?

Video conferencing is a tool that represents opportunities for companies to boost their work productivity. It has dramatically lowered costs by avoiding face-to-face communication. Companies can now operate day-to-day operations to embrace the economy affected by the COVID-19 pandemic.

Video chat keeps you connected with your company if you are working remotely. It can bring everyone together and improve the efficiency of their employees. Moreover, it is suspected that by 2027, there will be a 10% rise in the demand for video conferencing. But experts also believe that the figure may rise with video conferencing.

We can say that video conferencing is a tool that helps two or more individuals communicate in different locations. Video conferencing provides both facilities – video and audio – to enhance users’ experience. Consequently, video conferencing features are an effective way to keep users engaged and boost their productivity efficiently.

Video conferencing embraces the promoting collaboration with global companies by becoming the “new normal”. It has somewhere affected the way we communicate and our working patterns. Further, to learn and enhance your creative skills, you can find several video conferencing tools in the market that provide infinite services.

How Video Conferencing Benefits Your Businesses?

Video conferencing has provided countless opportunities in every business sector, especially for remote workers. For example, the collaboration of businesses in several department and locations have managed the suppliers through video conferencing software.

Meanwhile, the coronavirus pandemic hit companies globally, and job interviews were conducted online through video conferencing. Moreover, video conferencing platforms are cost-efficient and scalable.

This blog highlights the tangible benefits of video conferencing software for your business. Video calls allow us to connect with our employees and clients working remotely. Additionally, communication these days has simplified tasks for our businesses. Whether it is job interviews, office meetings, or managing suppliers, video calls are good.

Here is a list of the advantages of using a video conferencing system.

Saves Time and Money

As said by Mokokoma Mokhonoana that “We cannot save time. We can merely avoid wasting it.” One of the major benefits of video conferencing is that it saves time as well as money. Your company can operate a hybrid or remote workplace. 

After that, teleconferencing solutions are implemented in the place for in-person meetings for the entire team. As a result, you can save time and avoid face-to-face meetings with your employees and clients to save time and money. 

A report from Owl Labs revealed that employees save approximately $6000 annually if the meetings are conducted online. This way, video chat meetings help save a company’s commuting costs. Also, the Coworker 2020 Future of Remote Work Report indicated that around 50.8% of employees reported that saving commuting costs is a major advantage of remote work. 

According to a study, U.S. commercial real estate was valued at $16 trillion in 2018. Companies later realized why to spend a lot of money on office space when everyone could work through video telecommunication efficiently. 

No Need to Travel

Video conferencing helps us in organizing meetings with the participants globally. It is also considered a piece of essential equipment in present times as you can share video recordings through emails and other service platforms. 

Employees in the company have to meet the clients at different locations; that’s when video conferencing steps in to save your traveling costs. So, you can communicate with your people without leaving your place (office or home). 

Business travels undoubtedly contribute to the revenue of the company. However, video conferencing allows people to communicate face-to-face in real-time. Therefore, by replacing video conferencing with business travel, you can save travel costs and time, and effort. 

Digital/Remote Workforce Management

In this tech-savvy era, every workforce management emphasized video communication digitalization after the onset of the COVID-19 pandemic. But even before the crisis, the rise of video conferencing was already seen among the companies.

To simplify workforce management, companies opted for video conferencing. It helps employees by establishing real-time communication and face-to-face interactions with team members. 

Moreover, during the COVID-19 pandemic, organizations opted to work from home, allowing flexibility to their employees and accommodating their work hours accordingly. This helped everyone to focus on their work as well as their personal life. 

Improve Value and Reduce Redundancy

Companies have upgraded to audio or web conferencing software by valuing live streaming services. Video conferencing allows you to screen share, chat and record event meetings. So far, it has been observed that 65% of respondents prefer to work remotely. After the coronavirus pandemic, a hybrid work environment became the “new normal”. 

Employees remain happy and satisfied with their lifestyle while maintaining personal and work life. Unfortunately, this has hampered employees’ performance-boosting their productivity. At this moment, this leads to a reduction in job turnover. 

Employees must enjoy working at their workplace and maintain a balance work-personal life. This makes their performance productive and enhances employee satisfaction.

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Helps Building Relationships

Maintaining relationships with your clients and colleagues is important for collaboration with other companies. Video conferencing technology bridges the gap in interpersonal relationships in a meaningful way. 

Meetings conducted through video conferencing build both professional and personal relationships. In addition, however, virtual communication builds connections worldwide with several clients and employees of the company. 

Video meetings are a great tool to manage employees and boost their morale in virtual workplaces. It is a platform where employees can be heard and seen and share information more effectively. Therefore, employees can work efficiently and excellently. 

The audio conferencing tool lets you connect with your partners and employees for better communication. Additionally, this tool enhances the ability to connect with someone at a personal level in a more improvised way. One of the main benefits of video conferencing without misunderstanding communication with your employees. 

Therefore, it results in effective interactions and global relationships and trust among employees and consumers. According to a survey, 98% of the respondents revealed that video conferencing is the best way to build personal and professional relationships. 

Quick and Easy Meeting Scheduling

It has been seen that managers prefer to schedule an online meeting with their colleagues instead of attending an in-person meeting. On the other hand, participants are more likely to attend scheduled meetings at specific times and dates. 

While scheduling a meeting, you need to note the date and time to be on time, and this format can save your expenses spent on commuting. In addition, noting that meetings are online, you save your expenses with location restrictions. Also, you can schedule meetings several times a day to meet people via a virtual platform. 

Moreover, the details of upcoming meetings can be sent through emails so that the participants can join the link easily from any location. Hence, this feature allows your business to increase revenue over time. 

Set Up Live & Virtual Events

Video technology is a tool where you can broadcast video and meeting content so that the participants can get all information on a single platform. The hosts set up live events to share the presentation with attendees during the conference. 

Simultaneously, you can share links and documents during the conference to keep the attendees updated. With the help of a virtual event, you can communicate one-on-one with your employee and higher authorities. It makes the meeting more interactive and engaging throughout. 

An online platform such as Microsoft 365 offers excellent features for transforming your presentation and communicating with your audience. The tools of online platforms keep meetings organized and scheduled for a longer period. Video conferencing sets a plan to make the meetings presentable. 

What Are the Different Types of Virtual Events?

Virtual events are the replica of attending an in-person meeting or an event. Online conferencing platforms offer detailed analytics of in-person events. These events provide detailed effectiveness of the participant insight as a whole. 

The success of a webinar depends on the content presented via webinar software in a virtual event. Below are several virtual platforms executing business events and several other events. 

Online training sessions

In this tech-savvy era, you may face challenges with the advancement of technology, but by learning about tools and features, you can overcome all of them. Digital tools transform online training with ease. 

During the online training sessions, printed content is delivered through online platforms. The eLearning development tools help you curate engaging content for your audience. By improvising your presentation with different templates and themes, you can make your content look presentable. 

Virtual Trade Shows

The events conducted through virtual platforms aim to bring out several events, including expos, job fairs, annual conferences, trade shows, etc. For example, the virtual trade show allows attendees to interact with exhibitors. Furthermore, by using real-time Chatbox and live streaming functions, attendees can communicate with each other on a platform. 

An online platform is the best way to empower the team of event organizers and facilitate audience engagement. The video chat function and hosting meetings imply interaction amongst attendees. According to Forbes, several businesses have reached a wider audience during a pandemic to accommodate trade solutions. 

Online Fairs

Event apps these days are used for in-person as well as virtual events. Furthermore, event planning apps are extremely engaging and informative to keep the audience up-to-date. These apps provide better opportunities for the entire community. For instance, job fairs and volunteer/internship fairs. 

In addition, several mobile apps offer social media integration and mini social networks. These apps are smart for your business as they allow guests to connect with other digital attendees to elevate their digital fans' experience.

Webinar as a Product

Webinars are used for video presentations, workshops, or lectures hosted online, mainly through webinar software. Also, webinars and conferences are the best way to deliver information to a wider audience via marketing and interactive skills. Hence, this handy tool demonstrates the product and your expertise to the customers. 

It is a tool that supports relationship-building and authority-building tactics with endless possibilities. By hosting a webinar, you can invite a large number of attendees from all around the globe. Participants can be a part of a real-time meeting. Meanwhile, those who couldn't attend the meeting can watch the recorded session later.

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Conclusion

We can say that video conferencing is everyone’s necessity in this tech-savvy world. Its advantageous features provide flexibility and convenience to its audience. The employees can manage their work-personal life easily through the online conferencing platform

Video conferencing has hugely impacted businesses by integrating AI and machine learning systems with video conferencing resulting in replacing geographical boundations. 

Even after the outbreak of the coronavirus pandemic, government rebound the business travel, but people prefer to communicate virtually. Integrating video chatting and real-time conferencing gives an individual advantage in every scenario. 

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