How Is Video Revolutionizing Small Businesses?

Around 57% of small business owners believe that remote work will continue in the long term – as found in a recent survey conducted by Intermedia. The new ‘work from home’ economy has necessitated a big technological shift, with video playing a key role in keeping small businesses running even as many faced one of the most challenging times in their history.

Video conferencing session

photo credit: Unsplash

If you haven’t started riding the video wave yet, the following are just a few reasons why you should decide to make it an important part of your growth strategy.

Video Conferencing A Vital Tool

The value of the global video conferencing market reached $7.87 billion in 2020, up from $3.85 billion the previous year. The growth of this communication tool is projected to reach a CAGR of over 11% over the next five years, owing to the significant cost savings it affords.

Globe Newswire reports, for instance, that almost half of businesses that used video conferencing software managed to reduce their travel costs. Employees also applaud the practicality of video, with Velocity Global reporting that around 80% of employees feel that web conferencing software has increased their job satisfaction.

The Unwritten Rules Surrounding Video Conferencing

Such is the popularity of video that a defined etiquette and dress code have developed over the past year. Employees are making it a point to dress according to industry standards while adopting fashions such as minimalist jewelry suited to video calls. Jewelry such as small earrings, delicate necklaces, and unique yet classic pieces enable employees to express themselves during work calls without taking the focus off meeting agendas.

The defined etiquette surrounding this technology, meanwhile, includes being on time, sending attendees a predetermined agenda prior to the call, and the use of good lighting to ensure visibility.

Virtual Events

Video is also playing an important role in virtual events, with attendees able to visit virtual stands, view a small businesses’ new products and services, and take part in video calls with company staff. Indeed, video calls are arguably the most important component of virtual events, since potential clients can make inquiries and receive information on the specific products or services they are interested in. Clients can additionally make appointments with staff to view products or visit businesses in person.

Video Marketing

Video is playing a key role in modern marketing strategies, since around half of all Internet users view videos of items they’re interested in prior to making a purchase. Video is a magnificent way to show off the range of products or services you’re offering, but it can also be used to entertain and inform target clients to keep them loyal to your website and social media channels.

Currently, around 58% of all marketing teams plan to target their video marketing campaigns at Instagram users, so when creating your video content, make sure to choose the most appropriate channel for the type of products you develop.

Video is playing an important role in business and marketing strategies. In 2020, its popularity grew vertiginously, with video conferencing being a lifesaver for communications between staff and with clients. The importance of video also extends to virtual events and marketing, with Internet users showing a keen interest in consuming content on social media channels such as Instagram.

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