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Digital Touch Points: Establish a Media Business Strategy
We live in a global society that’s mobile, social media, and video-centric.
This is a digital age where individuals consume content anywhere, anytime on the viewing device of their choice.
It is a time of digital transformation, where enterprise organizations are reaching customers and workers through technology to increase touch points, digitally, and increase business results.
To meet the communication and workplace learning requirements of enterprises, four technologies will have the most impact on the use of video through innovation, advancement, and growth: mobility, social networking, the Cloud, and big data.
Impact and Value of Video Technology
Video represents an overwhelming amount of the content accessed by consumers and people in the workplace. Mobility is projected as the area for the most significant growth. In October 2014, the number of mobile devices exceeded the number of people in the world (7.19 billion). According to Cisco, there will be over 10 billion mobile-connected devices by 2018 and more than two-thirds of the world’s mobile data traffic will be video.
According to Socialmediatoday.com, 93% of marketers use social media for their business and video is a growing part of their strategies. Adding videos to landing pages can increase conversions by nearly 90% according to SocialTimes.
In its 2014 State of the Market report, Verizon states that enterprise spending on the Cloud grew 38% in 2014 and 71% of businesses expect to have public-facing applications in the cloud by 2017. Cisco states in its Visual Networking Index that the sum of all forms of video (TV, video on demand [VoD], Internet, and P2P) will be in the range of 80 to 90 percent of global consumer traffic by 2018 and video will account for 58% of all business Internet traffic in 2017.
Big data is embraced by businesses to track and measure the reactions and actions of targeted viewers: from marketing to sales, learning groups and corporate communications. For example: A study by Animoto states that nearly three-quarters (73 percent) of respondents are more likely to purchase a product or service if they can watch a video explaining it beforehand. Also, a 2014 Aberdeen Group study found that video management solution users are 90% more likely than non-users to measure how specific content performs across various channels (55% vs. 29%).
When these four technologies are integrated with other equipment and capabilities in the enterprise video ecosystem, an organization has powerful strategic communications tools for individuals to interact, collaborate, learn, and improve on the job performance.
here are a few key objectives To help leverage capabilities, effectively increase digital touch points and drive business results,:
First, establish a media business strategy.
The primary purpose is to identify all targeted internal and external audiences. Where are they? What do you want to tell your audience? What do you want them to do?
You should establish a thorough understanding of existing technology and identify the desired state for functionality, capabilities, and workflow.
You should also research and benchmark best practices to meet your companies specific business requirements.
The strategy process should be inclusive of all departments and business units, including executives and stakeholders for marketing, sales, learning groups, media and video communications, as well as IT, telecom and other support groups.
Second, you need to address viewing locations, environments, and devices.
Take into consideration your corporate structure, including type of business and facilities, the number of locations, and whether your model is . customer-facing or behind the counter, rural and/or urban, . domestic or global.
It is important to ensure that the appropriate viewing devices are located in each respective environment, such as computers at desktops and work areas, and display screens in meeting and conference rooms, training centers, and common areas. Also, it is critical to deliver content to a variety of mobile devices for consumption in the field or on the go.
Keep in mind, just as consumers will use devices of their preference to view and interact with video content when, where, and how they choose, employees will expect the same or greater capabilities in their work environment.
Third, blend and leverage digital media channels.
This means leveraging existing infrastructure and systems with the right blend of new and innovative technology. It should include all content capture, creation and origination capabilities, delivery channels and display systems in your organization’s video ecosystem. These include: smartphones and mobile devices, webcasting, video-conferencing and telepresence systems, satellite-based business television and interactive distance learning networks, and digital signage solutions.
This will enable the sharing and viewing of content across institutional, department, and business unit media channels. It should efficiently and cost effectively eliminate or reduce the amount of replicated and unnecessary systems located in silos throughout the organization.
Additional considerations and recommendations include:
- Produce content for viewing on each appropriate screen
- Capture viewer analytics
- Preserve, protect and leverage Company Media Assets
When producing content for viewing on each appropriate screen keep it fresh and relevant. Make it readily available and easily accessible across the enterprise.
You should encourage the creation of employee generated content (EGC) and use the content where appropriate. However, closely screen and manage the distribution of content to protect your company’s brand.
Track and measure the data to confirm that you are reaching the right audiences and that they are actively participating and learning. This will enhance the probability of improving business results.
Training Magazine recognized Jiffy Lube in 2014 as the year’s top training organization. Jiffy Lube found that video and electronic media significantly contributed to its goal of reducing costs and improving customer satisfaction. The company has decreased employee turnover by 45 percent, more than doubled the amount of training hours and improved its employee and manager certifications for 90 percent system-wide.
A good example of reaching the right audiences effectively and efficiently is the Government Training and Education Network (GETN), which serves agencies, such as the US Air Force, Air National Guard, Army, Navy, Federal Aviation Administration (FAA), and Department of Justice. GETN is a cross-functional video network, where the organizations use a common satellite carrier to share distance learning content and facilities. GETN agencies find that the student performance of distance learning users is at least equal to residence classes. However, the recurring costs for satellite transmissions, space segment, audio interaction, maintenance, and personnel are approximately only 20 percent of the cost for residence instruction.
To preserve, protect, and leverage company media assets, implement the digital asset management (DAM) system and process that offers the best digital workflow for your organization. This should be inclusive of all departments and business units across the enterprise.
A large financial institution found workflow efficiencies and cost savings by implementing an enterprise-wide DAM that more than justified the equipment and staffing costs. Other companies, including quick service restaurants, retail, transportation, and service companies have implemented systems to manage the storage, access and protection of historical and meaningful media assets.
How is your organization’s communication and workplace learning requirements being met? Do you have a media business strategy in place to leverage the use of the top four technologies that are projected to have the most impact on the use of video in the enterprise: mobility, social networking, the Cloud and big data?
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Excellent article. This is great information to share with your clients.