Video is fast becoming an indispensable tool for just about every type of organization.
- Video helps sales teams ensure their messages stand out from the competition.
- Video makes employee training content easier to consume and remember.
- Video makes knowledge management and social learning exponentially easier to capture, preserve, and share.
But video is also relatively new to most businesses. Just 5-10 years ago, video production was the domain of AV experts and technical specialists.
Today’s new wave of workplace video, however, opens the door to making recordings easily and at scale, by contributors from all over the organization — that is, if your organization is ready to support it. Standard CMS and LMS solutions aren’t built to manage video files — for your company to really get the most out of video, you’ll want to look into a true enterprise video platform with a built-in video CMS.
50 Facts About Enterprise Video You Need To Know
The history of media in the twentieth century could well be summed up as the history of how text-based communications transformed into video. Newspapers became the nightly news. Serial novellas became soap operas. Plays for the stage were adapted to screenplays for cinema.
Even today the trend continues. Instructional how-to guides are quickly being replaced with YouTube videos. The office has not been exempt, either. In fact, today we’re sitting on the tipping point for video in the workplace. Just look at the facts:
More And More Organizations Rely on Video
- By 2016, large companies will stream more than 16 hours of video per worker, per month (which is up from 10.8 hours in 2012 and 7.2 hours in 2010) That works out to 45 minutes every day each of your employees will spend watching your business — Gartner Research
- Among larger businesses, nearly half have implemented technical support specifically for video. Among mid-size businesses, 40% report likewise. — Forrester Research
- Already 10% of business video viewership already takes place on mobile devices—and that figure is expected to rise to 25% or more in the near future — Gartner Research
- 76% of executives watch business videos at least once a week, including 40% who view them daily — Cisco
- 82% of executives record their own business videos, and 64% of these executives upload recorded videos to their company’s video-sharing portal — Cisco
- Over 70% of business executives expect to increase their use of one-way video such as live webcasting in the coming years — Cisco
- Incoming Gen Y employees expect to use video as a means to communicate and share information, with 62% uploading videos to share or store on Internet sites — Cisco
- By YE18, 75% of workers at large organizations will interact with various kinds of video more than three times daily — Gartner Research
- Video already represents 57% of all internet traffic today, and is on target to account for up to 90% of all traffic by 2017 — Cisco
- 85% of companies expect to create more online video content this year than they did last year — Web Video Marketing
- What types of videos are companies creating? Videos for company websites (80.8% of companies produce). social media and networking sites (69.2%); Video content for sales lead generation (39.3%); Video content for employee training and education (38.1%), management communications (34.9%); Online video slide presentations (31.1%) — Web Video Marketing
- 3 in 5 young executives say they will rely more heavily on business-class video during the next five to 10 years — Cisco
- 87 percent of young executives believe video has a significant and positive impact on an organization, citing benefits ranging from enhancing the experience of telecommuters to saving money on travel costs and even attracting top talent — Cisco
- 94 percent of young executives value video as a way to break down language barriers in the increasingly global marketplace — Cisco
- 87 percent of young executives say they would choose to work for a video-enabled organization over a company that has not invested in video — Cisco
Video For Employee Training and Corporate Communications
- 75% percent of executives who reported that they watch work-related videos do so at least once a week — Video Brewery
- 59% of senior executives would rather watch a video than read text — Forbes Insight
- Overall, employees are 75 percent more likely to watch a video than to read documents, emails or web articles — Forrester Research
- Corporations save between 50% and 70% when they replace instructor-based training with eLearning — IOMA
- A business driver for eLearning: 85% of every dollar spent on classroom training is spent delivering it (instructor time, travel, etc) — Shift eLearning
- Microsoft used video to cut classroom training costs by $303 per person, from $320 to just $17 — Microsoft
- Microsoft calculates that over 3 years, its video portal for employee training and knowledge sharing resulted in total costs saved and avoided of about $13.9 million per year. The ROI for the period was estimated at 569% — Microsoft
- Caterpillar found that e-learning yielded a cost reduction of between 40 and 78 percent, based on the size of the audience — Caterpillar
- Oracle has seen benefits – to the tune of $10 million in cost savings – by using on-demand video to power sales kickoff meetings, rather than investing the time and effort to stage an annual in-person event for its entire international sales force — Forbes
- After adopting eLearning, Ernst and Young reduced its costs by 35% and reduced its training time by about 52% — IRRODL
- Dow Chemical reduced its training costs from $95 per learner to just $11 per learner when it switched to online training, due mostly to savings in traditional classroom training expenditures — Fastrack
- After finding that up to 40% of its classroom training costs were spent on travel and lodging, IBM moved half of its training programs to an eLearning format. Over the first two years of the program alone, the company saved $579 million — IBM
- Online learning earns companies a positive return on investment (ROI) in less than a year. If you have a business that is spread across many locations, it makes good business sense to implement an online learning program as a replacement for some face-to-face learning and as a complement to other instructor-led training in the form of blended learning — Forrester Research
- eLearning can save your sales team up to 35% of the time it would otherwise be required to spend with in-class training — Brandon Hall Group
- On-demand learning yields 50% higher net sales per employee — ATD
- eLearning is proven to increase knowledge retention by 25% to 60% — WR Hambrecht
- Presentations that include visuals like video along with text are 9 percent more effective than text alone when comprehension is tested right away — but are 83 percent more effective when the test is delayed, implying an improved ability to help learners remember the information better later — Rusted and Coltheart
- 27% of organizations use video for talent acquisition, and 22% more plan to do so by spring 2016. Of the 27%, 47% use web conferencing for two-way interviews and 37% use informational videos about a specific job, 15% use candidate recordings — PeopleFluent
- 55% of webinar-type events are viewed after-the-fact as a recording, not live — Adobe
- Companies that employ the strongest communication are over 50% more likely to impart below average turnover levels — BusinessPerform
- Communication also has an impact on employee motivation. A study revealed that 18% of absence rates was due to subpar communication practices — BusinessPerform
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Video For Marketing, Sales, and Customer Support
- Where a web page has video, 60% of visitors will click to watch the video before ever reading a word — PageWiz
- 80% of Internet users report they’ve watching a video ad online in the past 30 days — Video Brewery
- Of that 80% who report having watched a video ad online, 46% took some action after viewing the ad — 26% looked for more information; 22% visited the website; 15% visited the company; 12% purchased the product featured — Video Brewery
- Real estate listings with videos receive 403% more inquiries than those without videos — Video Brewery
- 90% of online shoppers at a major retailer’s website said they find video helpful in making shopping and buying decisions — Video Brewery
- Just including the word “video” in an email subject line has proven to increase click-thru rates by 7-13 percent — Experian
- Embedding a video in an email increased the email’s conversion rate by an average of 21 percent over using a static image alone — Experian
- Up to 85% of people are more likely to buy a product if they saw an explainer video first — MediaButton
What Leading Companies Are Doing With Video Now
- Leading adopters of video for business tend to rely on video content management systems, designed to enable live and on-demand video distribution, video-enabled intranets, video conferencing, access on smartphones and tablets, social features, and user-generated content. — Forrester Research
- The 5 most valuable use cases for organizational video: (1)Vision and mission onboarding videos; (2)Internal how-to videos, on how to conduct inspections; (3)Customer-facing how-to videos for customers, on how to use a product; (4)Sales enablement videos, demonstrating product value; (5)Internal how-to videos, on how employees should use corporate software — Gartner Research
- The top 5 business goals driving organizations to invest in video management solutions: (1)Saving on the cost of large virtual meetings; (2)Driving remote employee engagement; (3)Improving communications from leadership; (4)Improving training effectiveness; (5)Encouraging employees to share best practices — Forrester Research
- Video training systems can be used to assist people outside to the company as well. Video enables learning for channel partners who sell the company’s product, and better reaches customers who need specific information — for example, step-by-step product installation information, understanding of the financial options of their retirement plan, or tips on best practices for product use — Forrester Research
- Many companies already use video in their sales enablement practices throughout the sales cycle: Marketing and awareness (In use with 67% of research respondents); Lead nurturing (53%); Conversions (60%); Lead qualification (47%); Deal closings (33%); Post-sale communications (33%) — Aberdeen Group
- The Global Enterprise Video Market is expected to grow from $13.01 billion in 2014 to $32.87 billion by 2019 — Research & Markets
Find Out How to Manage Streaming and On-Demand Video Communications
Panopto’s video management system is the flexible, easy way to manage video in any organization — with the industry’s most comprehensive video search feature that enables your team to query every recording in your library for any word spoken and any word shown on-screen, instantly.