In the face of coronavirus lockdowns, many businesses were forced to shift to a remote work model and start using video conferencing more actively to carry on serving clients and earning revenue. However, when the pandemic ends, video conferencing is likely to continue growing in popularity even more due to the numerous opportunities it offers. According to Global Market Insights, the global video conferencing market is anticipated to exceed $20 billion by 2024.
Many experts have already experienced improvements in their client relationships due to video conferencing and have embraced it as their new normal. In our article, we’ve collected 13 benefits of video conferencing to show it’s an efficient technology. Let’s see what video conferencing is and what it can offer your business.
What is video conferencing?
Video conferencing is a solution allowing two or more people to communicate face to face and collaborate virtually from different locations using any internet-enabled device. It helps people maintain effective and interactive communication across town or across time zones and be more productive by cutting down on travel costs and time.
Video conferencing tools enable users to:
- hear and see their partners interactively, creating the effect of presence
- communicate with several users located in different parts of the world simultaneously
- collaborate on documents, both electronic and paper
- save time and money on business trips
- conduct presentations and demonstrations and exchange data
Now that you know what video conferencing is, let’s dive deep into the benefits it can provide for your business.
Top 13 benefits of using video conferencing
Now that you know what video conferencing technologies are used for, let’s dive deep into the key benefits they offer.
1. More flexibility and convenience
Flexibility and convenience are one of the main benefits of video conferencing in business. With video conferencing technologies, you have the freedom to meet with clients regardless of where they’re located. Besides, if you’re going to have a meeting with a group of clients and some can’t attend for some reason (e.g. time conflicts), many video conferencing solutions allow you to record the meeting and share it with your clients later.
Video conferencing is also much more convenient than physical meetings. It requires no traveling and can also help you stay safe, especially in the tough times of the COVID-19 lockdown. It makes you more mobile and allows you to join a video meeting wherever you are using a laptop, desktop, tablet, or even your smartphone.
2. Reach a wider audience
Another significant benefit of using video conferencing is the ability to reach a wide audience. Video conferencing technologies allow you to make your services accessible for more potential clients by erasing geographical barriers. This means you can reach your business goals and earn revenue faster than before.
3. Improve communication
Video conferencing can significantly improve your communication with clients. In 2009, researchers Todd S. Horowitz, Michael A. Cohen, and Jeremy M. Wolfe published an article in Proceedings of the National Academy of Sciences of the United States of America in which they state that humans store and recall visual information faster and easier than audio-only information.
This means during a video meeting, clients can perceive and remember key takeaways far better than during an audio conference.
Video conferences are closer to in-person meetings than audio calls, as they enable face-to-face communication and help listeners see your gestures, facial expressions, and other non-verbal cues, strengthening your message and helping your listeners internalize it better.
To learn more about how to conduct video meetings your clients will love, read our article on 14 tips for running effective virtual meetings.
4. Increase trust
During a video conference, you feel as if you’re in the same room with your conversation partners regardless of your actual location. Video meetings allow you to maintain effective communication by establishing eye contact with clients, building more trust than you could during an audio call. Seeing your appearance, hearing your tone of voice, and sensing your emotional state will help your clients be on the same page with you.
5. Increase engagement
When it comes to collaboration with clients, video proves to be more effective than audio. Face-to-face interaction allows participants to exchange information more effectively than can be done by voice alone. Also, your clients become much more involved in discussions, so your meetings become more engaging and effective.
6. Save time
For any physical meeting with your clients, you need to travel somewhere, wasting valuable time that can be spent on more meaningful, revenue-generating activities.
With video conferencing technologies, you can travel less, hold more meetings, and build stable relationships with your clients.
Besides, video conferencing encourages the helpful practice of assigning clear time limits to meetings and sticking to them. As a result, there are fewer side conversations and discussions that aren’t related to the meeting agenda.
7. Save money
A critical benefit of video conferencing in business is that the technology is cost-effective. You can considerably cut down on or even completely eliminate travel costs and office expenses and invest the money saved in other business priorities.
Video conferencing technologies enable you to reduce travel costs because you can hold meetings with clients remotely from the comfort of your own home or office. If we talk about traveling to other cities or even countries to meet clients, it’s essential to consider associated costs such as airline or railway tickets, hotel stays, and incidental expenses.
Besides, you actually lose lots of time on flights, trains, and car trips, checking in and out of hotels, and so on. That means more time spent unproductively and less opportunities to increase your revenue. By using video conferencing you can literally visit several cities or even countries within one day without leaving your workplace.
Also, if you choose to work from home, you don’t need to pay office rent and office maintenance fees. And having all the necessary equipment for video conferencing at home allows you to save on office supplies.
8. Improve ROI
As far as the necessity of traveling to meet clients can be eliminated, you can significantly improve your ROI, which is perhaps one of the most significant benefits of using video conferencing software. By reducing travel time and costs as well as office expenses, you can allocate more time to serving clients from around the globe, boosting your business’s profit.
9. Streamline collaboration with clients
Video conferencing enables you to streamline your collaboration with clients due to screen and file sharing features. This allows you to exchange and work on important files in real time and demonstrate whatever you need without asking your clients to download and open files before the meeting to get familiar with them.
It may also happen that your clients don’t have the software required to view a file you want to share. In this case, you can simply show the content on your screen and discuss it right in the meeting. Besides, many video conferencing solutions feature live chats during video sessions to exchange information and make faster decisions.
10. Increase productivity
Increasing your productivity is another benefit of video conferencing. Because video conferencing ensures effective collaboration in real time, you no longer need to contend with back-and-forth communication and lost emails. You can hold a short video meeting to tackle critical issues on the spot or get instant feedback instead of wasting time sending text messages or emails and waiting for your clients to answer. That means less confusion, delays, and misunderstandings.
11. Improve attendance
No matter how good you are at scheduling meetings with clients, stuff can happen. Clients can miss meetings for various reasons. Video conferencing can solve the problem and ensure better meeting attendance.
This point is especially important and beneficial when having a group call with several clients from different locations. Getting several people together for an in-person meeting may be challenging. Video conferencing technologies erase geographical boundaries, allowing you and your clients to meet online and achieve your desired outcomes.
12. Get a sustained competitive edge
Using video conferencing can provide a strong competitive edge for your business. You can maintain a leading market position by offering convenient and effective real-time communication and collaboration to your clients.
As a professional, you can use video conferencing to share your expertise easier and faster. By making your services available for a wider audience around the globe, you can help more people receive top-notch timely support to solve their problems. Consequently, you can get more clients regardless of where they’re located and increase your revenue.
13. Better work–life balance
The final benefit of video conferencing is achieving a healthier work–life balance. With video conferencing technologies, you can establish a more flexible work schedule and spend less time on business trips, thus having more time for your personal life. As a result, you’ll reduce work stress and feel more satisfied and motivated.
Video conferencing is beneficial for both businesses and clients, helping experts get more clients and earn more revenue and helping customers get top-notch consulting services regardless of their location.
The 2020 lockdown has taught us that our lives can change drastically and that we should be ready to adapt to new circumstances. You should be proactive so as not to lose clients and revenue. Take full advantage of video conferencing technologies and skyrocket your business.
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The key benefits of video conferencing are as follows:
- Flexibility and convenience
- The ability to reach a wider audience
- Improved communication
- Increased trust
- Increased engagement
- Time saving
- Cost saving
- Improved ROI
- Streamlined collaboration
- Increased productivity
- Improved attendance
- A sustained competitive advantage
- Better work-life balance