Video conferencing is more than just a convenience tool; it’s a cost-saving measure. Hardware and services are making it easier than ever to connect offices around the world.
And since every small business is looking for ways to increase efficiency and drive down expenses, here are the ways that video conferencing is making that possible.
Eliminates Necessity of Travel
The obvious first place to begin is with the very purpose of video conferencing: allowing virtual in-person communication from remote locations.
Bob’s in Seattle and Betty’s in Miami while your offices are in San Francisco. Why fly them in for a 45-minute meeting when, for a fraction of the cost, you can link up face to face on the screen? And not only are you saving money; you’re saving time. You can have that meeting today rather than tomorrow, and you don’t have to worry about Betty’s jet lag.
Video conferencing can also help you save money on talent. It can allow you to keep an employee who must relocate when a spouse takes a job in a different city. It could also keep you connected to a staff member who must work from home during an illness. The money you can save over the long term on recruiting, training and office space can certainly add up and add to your cash flow.
Webinars have become all the rage in sales lately and with good reason. They are “cost-effective, have a wide reach and produce a high-quality lead,” Bob Lee, senior product manager of GoToWebinar at Citrix, told Business News Daily.
Lee says webinar-inspired sales leads are more reliable than email responders and even product testers.
“Webinar attendees already have a high level of interest to be attending your conference in the first place,” Lee said.
Technology is making possible what previously required (relatively expensive) human effort. Google has developed a tool called Translate, which is straight out of the world of Star Trek, deciphering foreign languages into your native one.
Imagine video conferencing with people from around the planet and having all of their languages translated so that everyone can understand what is being said. No more needing interpreters who speak Arabic, Japanese, Swedish and French. Now, basic translation services can be done for free by this amazing technology.
Competition Among Products is Reducing Costs
With companies competing to be the go-to in video conferencing technology, the real winner is the customer. To get their products in conference rooms across the U.S., firms, startups such as Zoom and Highfive are seeking to make their conferencing technology affordable to small business owners.
“After experiencing the shift in productivity when video conferencing, web conferencing and screen sharing are made incredibly simple, customers who started with one or two devices have come back to us to put Highfive in every meeting room,” Highfive CEO Shan Sinha said last month when his company brought in $32 million in funding. “We are seeing record growth, and we’re on track to process one million video minutes per week within the first six months of shipping.”
Companies like Highfive are also competing with established video conferencing software companies such as Vidyo, Blue Jeans, Lifesize and Fuze. What does that mean for you? Better quality video calling at a dramatically lower cost.
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