From online corporate universities to all hands meeting broadcasts, business video use continues to grow at a rapid pace.
Cisco projects that by video will soon make up 73% of all web traffic — both business and consumer — requiring approximately double the bandwidth capacity it does today.
The prevalence of video is seeping into our daily office routine — Gartner Research expects that by 2018 the average employee in any large organization will spend 45 minutes every day watching work-related videos.
The coming influx of organizational video has prompted early adopters everywhere to seek out a solution for managing that deluge of video content — adopting a video content management system (video CMS, or commonly, “corporate YouTube”) to make recording, managing, uploading, sharing, viewing, and searching all that video easy.
Yet while a host of factors from the commoditization of video recording technology to the potential for storage at scale in the cloud have made sourcing these systems easier and more affordable than ever, for many companies, the question is not whether they can deploy a video CMS — it’s what would they do with a video CMS once they rolled it out?
Offering an answer for all those organizations not yet certain how a corporate YouTube can drive real ROI, Wainhouse Research has published a new report, titled “Trends in Enterprise Video Archiving: Usage and Perceptions of On-Demand Online Business Video”
Along with an analysis of the video content management market today, Wainhouse shares research into what early corporate YouTube adopters have sought to gain from their VCMS. The results, excerpted below, might just help other organizations make the case for centralized video management.
Businesses are generating video at an exponential rate. Yet for most companies, right now this valuable content is scattered across corporate intranet sites, SharePoint portals, and file shares where it’s hard to discover and impossible to manage. With a secure corporate YouTube, you can centralize all of your video to provide improved employee access, as well as enable your IT organization to manage the flow of video within the network.
Let’s look into how all that translates into the business goals today’s early video CMS adopters described to Wainhouse:
The Ability to Reuse Content Shared in Business Videos
Perhaps the most straightforward service a video library can provide is simply to make existing content accessible. Many organizations already rely on video-based tools like web conferencing or video conferencing to share ideas, conduct training, and make presentations. Yet all too many organizations fail to take the easy extra steps of recording and sharing that video — often because those conferencing tools don’t make it easy to do so with high quality. A modern video content management system, however, can often take those existing videos and make them accessible across an organization — even transcoded so as to be viewable on any device, regardless of the original file format.
Recording and sharing events, meetings, presentations, demos, and almost anything else can provide a serious boost to employee efficiency — presenters will no longer need to make the same pitch over and over to each separate stakeholder, and viewers will be able to find information shared by video quickly either via a link from a colleague or just a simple keyword search.
The Ability to Reach More Employees with Video
Often this goal has two components — quantity and quality. From a quantitative reach perspective, some modern VCMS options help organizations reach more employees by including a webcasting solution. Organizations that rely on traditional web conferencing solutions for large communications are often limited by caps on the total number of possible attendees — typically from as little as 100 attendees to generally no more than a thousand. Webcasting uses different technology to deliver video, meaning it can be used to stream to a web conference to thousands — or even tens of thousands — of people.
Qualitative reach — engagement — can also increase with video. According to Forrester Research, employees are 75% more likely to watch a video than to read documents and email. Likewise, Forrester continues, email click-through rates increase 2-3x when video is used in an email. Simply put, employees prefer to see a message when it’s shared with video.
Providing Viewers the Ability to Time-Shift
Gone are the days of the 9-5 office. Between flexible office hours, work-life balance initiatives, and bring-your-own-device IT strategies, today’s team members need — and expect — to be able to get work done anytime, anywhere.
That expectation extends to video — now more than ever today’s employees are looking for opportunities to use their time more efficiently, meaning training videos may be watched on the morning commute, executive communications may be seen via smartphone over lunch, and sales demos may be studied on a tablet while seated on a couch at the end of the night. That is if your video solution can offer them that flexibility.
Preservation of Organizational Knowledge
According to IDC, normal turnover rates cause companies to lose 10-30% of their internal knowledge and capabilities each year. That means over just 3 years, a company may only retain 41% of its capabilities. Many organizations attempt to forestall that loss by asking organizational experts to document existing processes and practices — but those FAQs often end up buried on a file share and rarely if ever referenced.
Video offers a better opportunity. With video, your experts can quickly capture a screen recording or webcam presentation and show precisely how things work or how common issues can be addressed. Such a recording is often much faster than a written FAQ, and much easier for the viewer to follow along. See how video can help retain organizational knowledge in the video below:
Better Outbound Communications
According to Adobe, 55% of the people who registered to attend your webinar will end up watching the content as a recorded video, after the live event has come and gone. Schedule conflicts, technical difficulties with web conferencing software, and a myriad of other challenges to have created a world in which attending a live webinar simply isn’t always possible.
Webcasting your webinars can be a simple way to help increase your webinar attendance. Likewise, using a VCMS that automatically records and makes webinar videos available to the 55% of your audience waiting to review the webinar on-demand, can be another easy venue to sharing your video with an audience outside the walls of your organization.
Identifying, collecting, producing, and reviewing electronically stored information and content required for audits and lawsuits — a process known as electronic discovery or eDiscovery — has become a fundamental legal procedure for many larger organizations. eDiscovery is no small challenge — firms must discern not only what information exists, but also where it’s stored, and how it can be collected, reviewed, and produced for broader consumption — often under-enforced deadlines with potential to draw fines and penalties.
A video content management system can alleviate many of those eDiscovery challenges. A VCMS not only helps to better organize video content — helping to solve the first issue many legal teams have in simply identifying all the content that exists — but also can make searching that video content simple. Panopto’s Smart Search video search technology indexes every word spoken and every word that appears on-screen for every video in a corporate YouTube library — helping legal teams to make a smarter, more efficient review of video content.
Panopto’s video platform goes beyond video storage, and includes a unique search engine that allows employees to search inside videos for any word or phrase, and admin tools for analyzing video use, controlling video storage and bandwidth, and securing all your company’s video assets.
Panopto standardizes virtually any video recording device, enabling your team to record with anything from a simple smartphone to an advanced HD camcorder. Panopto automatically takes care of the rest, transcoding every video to be viewable on any device and indexing all the content in every recording to help ensure your team can find anything they are searching for.
To see just how easily you can manage, search, share, and record videos with Panopto, or to learn more about how Panopto can help your organization use video to share knowledge, contact our team to request a free trial of our software.