Earlier this year, Mary Meeker and her associates at Kleiner Perkins Caufield & Byers (KPCB) released their annual Internet Trends Report, which named “Messaging Threads” among the top trends in enterprise technology for 2018. Messaging threads, or apps that support collaboration and the sharing of information in the workplace, like Slack, Dropbox, and Zoom surged in popularity over the last year signaling a stronger push among businesses to optimize productivity.
Looking ahead, productivity will continue to be a focus for businesses as even small improvements can make a big difference to a company’s success. Recent data from a first-of-its-kind workplace productivity study by Panopto and YouGov actually put a dollar value on how much inefficient knowledge sharing costs businesses. The results were staggering. For a company with over 5,000 employees, the day-to-day inefficiencies in knowledge sharing add up to $12M annually. In organizations with over 100,000 employees that cost adds up to $240M.
So what does all of this mean for the coming year?
We predict that businesses in 2019 will adopt new solutions that further support the rapid sharing and discovery of information to supercharge productivity in the workplace. And, in addition to video conferencing, messaging threads, and modernized email systems many businesses are already using, we believe one of those new solutions will be a video content management system (or video CMS).
Not only is video one of the most efficient mediums for sharing knowledge, detailed processes, and other communications but also it engages employees in learning something quickly. Without a video CMS, though, leveraging video isn’t easy and it’s just not as effective as it could be.
A video CMS is like an internal YouTube for all of your organization’s video-based knowledge, training, and communications. Like YouTube, it makes it remarkably easy for employees throughout your organization to record, upload, and share videos securely. And, with inside-video search, it can make the content within videos as easy to search as an email.
As more businesses discover the technology that makes it possible to finally do what they’ve been wanting to do with video, there will be five corporate video trends you can expect to see emerge.
With on-demand video, businesses can make a training that is typically only offered to a small group of employees once or twice a year available to the entire organization at any time. All an instructor needs to do is record their presentation on their laptop and add it to the company’s video library to make it easily searchable and instantly playable by anyone looking for that information.
It’s the best way to help your training and development efforts reach more people and teach more people without requiring a big increase in your budget.
90% of what workers learn at work is acquired from on-the-job experience and colleagues sharing their expertise. The only problem is that those “conversations over the watercooler” simply don’t scale. If a subject matter expert isn’t available, or the employee that needs their input works in another office, your people often have no choice but to put their work on hold and wait for their colleague’s schedule to open up.
Video is a technology that more and more businesses are leveraging to accelerate social learning and free up SMEs who frequently get bogged down with answering the same questions over and over again. With a video CMS, once a subject matter expert (SME) records a walkthrough and shares it with the organization, everyone else will be able to absorb the SME’s knowledge just by pressing play.
Finding new ways to give your sales staff just a few more minutes each day might just be the smartest way to help them bring in more new business, more renewals, and more money.
You can use video to give your sales teams instant on-demand access to the latest product information, competitive intelligence, and best practices. You can use video to enable sales reps to record quick insights or updates to share with their team members. You can even use it to broadcast team meetings, trainings, and other activities in real time, giving you an ideal solution for unifying scattered sales teams that don’t typically come together more than a few times a year and are often separated by time zones.
Businesses succeed when the entire organization is on the same page with a clear understanding of company objectives. But 75% of employees report they’d prefer to watch a video rather than read the text of yet another email or memo. That’s why more and more executives are leveraging video to communicate big updates like a change in strategy or an update to a policy.
Video enables employees throughout the organization to better connect with senior leaders and gain deeper insights into business practices in a matter of minutes. In 2019, companies will seek to accelerate the impact of executive communications and foster more transparency from the top through both on-demand and live video.
The beauty of a live streamed event like a company town hall meeting or a mandatory compliance training is that you can virtually get your entire workforce into the same room and deliver the same experience to everyone at once. It’s as unifying as it is efficient.
Live streaming software has made it possible for businesses to securely stream their own live events without hiring a third-party company to produce the event and without extra investment in specialized hardware and network infrastructure. So we expect to see a surge in businesses using live streaming for more than just marketing in 2019 — live streaming will be used by L&D, corporate communications, investor relations, customer advocacy, and more because it’s powerful and far easier than it used to be.
Recognized by Gartner four consecutive times, Panopto is a leader in enterprise video content management, offering businesses an all-in-one platform for recording, live streaming, sharing, and searching videos. Contact our team today to request a free 30-day trial of Panopto, and let us show you how you can use our video platform to support productivity within your organization.