Engagement is a critical factor for how effectively information is conveyed, retained and put into practice.
It’s therefore long been a goal of educators and trainers to better understand human behaviour in learning situations.
After years of trial and error, largely of text-based learning systems and modules, the most progressive organisations have now come to the realisation - video is a more effective mode for learning.
Recent research has shown that on average 60 percent of information presented in video form is retained by the audience, compared with around 10 percent for text.
This has big implications for helping organisations overcome some of their most vexing communications challenges.
The Viostream Internal Communications Benchmark Report found organisations that have already incorporated video into their internal communications strategies report five key applications in order of importance:
1- Executive Communications
2- Learning and development
3- Employee Knowledge Sharing
4- User Generated Content
5- Company Meetings
A third of respondents to the Viostream study cited executive communications as the top use case, reflecting the fact that some 70 percent of workers feel executives spend too little time explaining goals and plans to them - what is a ‘change’ program after all without communication to bring everyone along the journey. On the other hand, close to 50 percent of employees admit they don’t actually open emails regarding internal communications.
Better engagement equals bottom line improvements
Companies able to foster more engaged company cultures enjoy significant competitive advantages over those that don’t, with a growing body of research pointing to tangible bottom-line improvements. For instance, companies with more effective communication practices have been shown to deliver close to 50 percent higher returns for shareholders, compared with those firms that score the lowest.
Gartner reports that in 2018 around three quarters of workers at larger organisations will interact with various kinds of video more than three times daily. The Viostream Benchmark Report supports this, finding that over 40 percent of surveyed organisations have more than 500 video assets in their library, with almost a quarter managing 1,000 assets or more.
But Video content can’t be considered a means of better engagement in and of itself.
For instance, while on-demand video content (think Netflix for the enterprise) has been shown to drive greater levels of engagement compared with traditional text-based information, live streaming commands attention and achieves retention rates that are better still.
One of the reasons for this is that live streaming is associated with being an ‘event’. Fear of Missing Out (FOMO) and other senses of urgency and importance are attached to live streaming, making it arguably the most effective vehicle for driving audience engagement.
Interestingly, as video starts to play a more important role in corporate communications, it’s also reshaping communication channels in unexpected ways. For instance, while the average face-to-face company meeting will run for between 30 and 60 minutes, it’s been shown that most presentations can be squeezed into under 20 minutes and still achieve the same results.
A good example is the now iconic ‘Ted Talks’ which run to a standard 18-minute time frame.
An often-cited reason for the success of Ted Talks is that they’re perceived as being ‘authentic’, and it’s this quality that seems to command audience's’ attention and improve their rates of retention with video when compared with other mediums.
Video streaming smashes the tyranny of distance
The good news for business is that live video streaming is extremely scalable, able to deliver better levels of engagement for any kind of company event, be it for small internal meetings, staff training, or large ‘Town Hall’ style events such as product launches and the like, where large numbers of people are connected across multiple locations.
The key to achieving this is being able to deliver a smooth and consistent user experience that mimics users’ personal experiences with social media platforms and digital mobile apps.
It’s not rocket science and doesn’t need to be expensive, but companies do need to ensure they’ve got their IT houses in order to maximise the chances of success.
Invest in powerful, robust technology that is both secure and able to be delivered at scale, whether it’s for large or dispersed audiences, or both. The technology also needs to work easily with your existing network, IT systems and tools.
And finally, it’s critically important that you choose a local video partner able to understand what you need in terms of change management, and to work with you on your journey.
Get in touch with cloud-based video streaming specialists Viostream today to start on the path towards more effective internal communications, greater staff engagement and better outcomes for your business.
Get insights into how Australian organisations use streaming video to drive employee engagement by downloading the Viostream Internal Communications Video Benchmark Report.