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3 Ways Video Conferencing Saves Businesses Money

benefits of video conferencing for your businessVideo conferencing is becoming increasingly popular in today’s workforce, and it’s no surprise as to why. Video conferencing is a great tool for large and small businesses alike for reasons that include cost savings, increases in productivity, and convenience. In fact, some businesses might be surprised at the amount of money that video conferencing can save them. Read on to find out some ways that video conferencing can benefit all types of businesses and save them money.

Saves Costs on Buildings

As working remotely becomes more popular in the workforce today, video conferencing is starting to become the norm. This is helpful for business owners who want their own individual office but would rather have their employees work from home to save costs on building maintenance. In fact, many business owners are simply renting out private office spaces for themselves, such as these executive suites at Ballantyne Corporate Park. Rather than renting out an entire building for all employees, large and small business owners are finding value in renting executive suites as their main business hub and using video conferencing to cut their costs. They can save even more money by taking advantage of the two months free rent that Ballantyne Corporate Park currently offers.

In addition to building maintenance costs, business owners can also find themselves saving money through video conferencing by eliminating travel expenses. Rather than send employees all over the world to meet with clients, they can now be connected through a virtual link that allows them to collaborate just as efficiently. This cuts the cost of airfare, hotels, and meals for employees.

Increases Productivity

Video conferencing is able to increase the productivity of your staff in numerous ways. Making business operations more efficient should be the goal of every company, and this can be achieved by video conferencing technology. Here are a few ways that productivity is increased with video conferencing:

  • More time to dedicate to work instead of travel: Eliminating the need to travel means employees can use this spare time to dedicate to their projects and increase their productivity.
  • Greater outreach to talented clients and coworkers: People who were once hard to get hold of and collaborate with can now work together easily with video conferencing technology.
  • New products introduced more quickly: With speedier communication, products are able to be marketed more quickly, which will increase the revenue for both large and small businesses.

Greater Convenience

We have all heard the expression “time is money” when it comes to businesses, and video conferencing is able to save companies a lot of time. Conducting a meeting with employees and/or clients at 11 a.m. isn’t a hassle when you don’t need to congregate in one spot.

This convenience is important to clients who also view their time as being valuable. Happier clients means an increase in revenue for your business. If you need any more convincing that customer service is important, a study from Marketing Metrics shows that the probability of selling to an existing customer is 60-70 percent, compared to a 5-20 percent probability selling to new prospects.

Video Conferencing Can Cut Costs Dramatically

Competitive businesses both large and small are implementing video conferencing technology into their company because of its cost saving benefits. Video conferencing can reduce costs on employee space, increase productivity, and be a convenient source of communication between employees and clients. Saving money with video conferencing is a smart choice that business owners should consider if they want to be successful.

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