Impact of Video Conferencing On Business Growth (Across Industries)
Impact of Video Conferencing On Business Growth (Across Industries)

Contents

Everyone knows that the “impact of video conferencing on business growth” is remarkable. During the pandemic peak, we have seen how video conferencing helped businesses run their operations. 

Even now, when the pandemic is somehow under control, video conferences are nowhere going. Businesses have now adopted a hybrid work culture to leverage video conferencing daily. 

A Lifesize report shows that:

  • 98% of people find video conferencing helpful in building internal and external relationships. 
  • 94% say video conferencing helps to boost productivity. 
  • 89% agree that video calls can reduce the time spent completing a task. 

And the best part is that video conferencing is not helpful for only one industry. Almost every business sector can use this technology to improve productivity.

Is it true?

Yes! Let’s walk through this guide to understand the impact of video conferencing on business.

Impact of Video Conferencing on the Tourism Sector

The tourism industry is a big part of the world's economic growth. Many countries, like Italy, Spain, Germany, etc., are dependent on tourism. 

But, this sector has received the worst wrath from the pandemic. According to a report, 43% of business travelers have canceled their trips for the unsighted future.

Source

Alt text: travel business situations 

So, things are hard right now for tourism-based businesses. But, the impact of video conferencing on these businesses is already seen. As a result, this industry is getting back on track. 

Tourism companies are using video conferencing in many ways to attract more customers. For example, personalization in the tourism industry is a big thing now. 

Businesses use customers' data to send personalized messages and create custom packages for them. Video conferencing helps businesses to collect real-time customer data. Later on, process it to improve personalized marketing efforts.

For instance, Consolto comes with a mini CRM solution. It enables businesses to store video meetings, audio chats, and other customer details in a dashboard. 

This way, employees can access all the relevant information about a customer with a click. It helps them better understand customers and design personalized offers and deals for them. 

This also allows companies to use an account-based marketing strategy to target accounts that can bring more business. Thus, tourism companies can only focus on customers more likely to buy from them. As a result, it can improve conversion rates and reduce marketing costs.

Tourism-based businesses can use video conferencing to retarget their existing customers. 

They can use an emotional approach and personal touch to convince customers that traveling with them is safe for their families. Moreover, video conferencing lets them answer their customers' questions in real time.

Impact of Video Conferencing on the Consulting Sector

The impact of video conferencing on business with consulting services is awesome. The consulting market is huge today. According to a report, consulting market size is around $250 billion

Consulting businesses can use video conferencing to improve their workflow and build relationships. 

Video conferencing can help consulting businesses in the following ways:

Direct communication line

Video conferencing opens up a direct communication line between consultants and customers. Agents can use a human approach to connect with potential clients and understand their pain points. 

Moreover, when you use a video conferencing plug-in like Consolto. It lets your customers book a consultation appointment or start an instant video call with a click. 

It helps to improve customer experience and convert leads faster. Besides this, using screen sharing and 3-D sense features, you can better explain your products and services to clients.

Reduce sales cycle 

Video conferencing enables consulting business providers to reduce their sales cycle. They can complete an entire sales cycle within a video meeting. 

They can explain their services to customers and request payment within a video meeting. Payment integration can help to close deals quicker. 

This way, you can prevent leads from leaking through your sales funnel. You can also gain a competitive edge when you convert leads faster. 

Build relationships

Trust is an important relationship-building factor. Your customers can only use your consulting services when they trust your brand. 

If customers don’t trust your abilities, they might hesitate to share their personal details with you. And this can impact your services, especially services like therapies and financial.

Thus, video conferencing can impact consulting businesses' relationships with potential clients. With a human approach, they can better explain to clients how they can help them. Moreover, they can address clients' issues in real-time.

Transparency 

Clients should never hide anything from their consultants. The same goes for consulting business providers. There must be clear communication and transparency between both consultants and their clients. 

With face-to-face communication, achieving transparency in a remote environment is super easy. Both clients and consultants can discuss their points without any interruption. 

They can use screen sharing to explain their points. They can also use 3-D senses to highlight particular points in the image. In short, video conferencing brings crystal clear transparency between clients and companies. 

Impact of Video Conferencing on the E-Commerce Sector

E-commerce is a big industry today. Since customers' buying behavior has changed a lot in the last few years, more e-commerce businesses are now coming into the limelight. 

As a result, the e-commerce market is getting huge every day, so competition is brutal there. Also, e-commerce businesses are using video conferencing to gain a competitive edge. 

They use video conferencing to improve their customer services and virtual shopping experience. For example, in the e-commerce sector, you can see the impact of video conferencing on the following things: 

Source

Alt text : impact of real estate on ecommerce business 

Personalized shopping experience 

One of the main concerns people have during online shopping is that they miss personalized shopping experiences. They miss interacting with sales reps while shopping and discussing their issues. 

E-commerce businesses can use video chat boxes to help customers communicate with their sales reps. It allows customers to click the video call button while shopping online . They can talk with a dedicated salesperson to clarify their doubts. 

Real-time support 

Video calling helps businesses to provide real-time support to their buyers. This feature is great for online retail businesses. They can understand their customers and provide quick solutions with video calling. 

Imagine you have an online fashion clothing store. One of your customers wants to know whether they can get a discount on bulk orders. In that case, they can video call your team and ask the same question. Then, your team can offer a custom deal and seal the deal on the spot.

The best part is that it will only take a couple of minutes to complete the entire process. 

Schedule an appointment

Nowadays, e-commerce businesses come up with unique ideas to impress their customers. As a result, many businesses are using artificial intelligence, virtual reality, etc. 

But, all these technologies are expensive, and small e-commerce businesses can’t afford them. But, video conferencing is something that both small and big businesses can use. 

It is an affordable technology with several benefits. For example, you can provide personalized shopping guidance to your customers. You can ask customers to book an appointment with your stylist for online shopping guidance. 

This way, you can offer something different without blowing your bank account. 

Re-target your customers 

If you are using a video conferencing platform with analytical features, you can use it to re-target your previous customers. People who have already bought from your website don't take much nurturing to order again. 

You can send your old customers personalized emails with a video calling schedule option. You can share your other product details with customers based on their buy history.

This way, customers can know more about your other products and book a video call with your team to clear their doubts. 

Apart from your existing customers, analytics can help you target visitors who abandon shopping carts. These customers already like your products but take a little more nurturing to turn into your paying customers. 

So, you can send video meeting links to these customers. It can help you understand why they have abandoned their cart in the first place and how you can change their decision.

Impact of Video Conferencing on the Real Estate Sector

Almost 95% of homebuyers start their research online. In this, if you don’t offer an excellent online experience to your potential buyers, you might lose a great business. 

So, the impact of video conferencing on business organizations that offer real estate services is dynamic. Real estate businesses can use video conferencing to improve customer experience.

Are you a realtor? Then, you can use video conferencing in the following ways to grow your business:

Source

Alt text: impact of video conferencing on real estate 

360-degree home tour 

Physical open houses are too bland today. Most realtors are now using virtual tours to attract more buyers. This trend started during the pandemic, but it will stay here forever. The reason? 

It has allowed real estate businesses to target global buyers. Usually, open houses only attract local home buyers. 

But, with virtual open houses, you can show your properties to a person sitting in another part of the world. It helps to expand your business and sell your properties at a higher rate.

Personalized consulting services

Video conferencing software can help you offer extra services to your customers. You can offer personalized real estate consulting services to homebuyers. 

You can share your real estate knowledge with more people and attract more customers. You can even host webinars to educate your prospects and promote your business. 

You can customize your video conferencing platform using your business logo, color, and font style. 

Besides this, you can accept payment for your consulting services within the platform. You can make extra money by offering real estate consulting services to new homebuyers. 

Share media files

Buying a new home is a big decision. People need more information and details to make a big house investment. 

Thus, you can use file sharing to share properties’ images, videos, and other details with your clients. You can better convince your clients using visuals to invest in a certain property. 

Boost your sales

You can ease the complexities of selling properties online by using 3D-Sense. It is a Consolto-exclusive remote 3D feature. Your agents can zoom in and out to highlight the key quirks and details that distinguish a property in 3D. Remote selling and virtual tours come to life with 3DSense, making people feel as if they're in the same room as you.

Source

Alt text: Consolto real estate solution 

Improve customer support 

Realtors can offer real-time support to their clients via live video chatting. They can record client meetings to analyze later on. They can also take notes and share more information with clients to help them. 

Impact of Video Conferencing on Business Growth: Conclusion 

As you can see, the impact of video conferencing on business growth is deeper than you imagine. Of course, it is not helping one or two business areas. But, all the leading business industries are experiencing positive outcomes with video conferencing. 

Thus, whether you have digital stores or consulting solutions, video conferencing is the best solution. 

You can streamline your external and internal operations with video technology. Plus, you can set up a virtual office to save your resources and improve team productivity. 

Cool, right? 

So, without any ado, book an appointment with the Consolto team to get a custom video conferencing solution now. You can also leverage our 7-day free trial.

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