If you haven’t seen the benefits of video conference calls yet, this quick guide to video conferencing will get you on the right track!
Video conferencing is the new way of making phone calls and attending business meetings. It cuts costs, improves efficiency, amplifies collaboration, and helps with decision-making. According to a study, video conferencing is a $14 billion industry. By 2027, it is projected to increase with a compound annual growth rate of 20%.
Technological advancements and consumer demand are driving this industry’s growth to a significant extent. In this guide to video conferencing, you will learn the key aspects of video conference, how it works and why it brings an advantage to businesses.
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A quick guide to video conferencing
How does video conferencing work?
Voice over Internet Protocol (VoIP) is the driver for video conferencing. This contemporary technology allows seamless audio and video communication over the Internet. VoIP uses codecs, a set of algorithms, to transfer audio and visual signals from one location to another.
Consider a general conferencing meeting. Once someone starts speaking, the microphone collects an analog signal, whereas the camera collects the video signal. VoIP technology is used to digitally code these signals and transmit them over the Internet.
Next, the decoders transform the digital signals to video and audio signals, allowing those attending the meeting at the other end to hear and see. Most video conferencing applications use echo cancellation to reduce any lag between video and audio feed.
Video conferencing in numbers
According to a study by AV Magazine, 68% of businesses disclosed using video conferencing solutions in the last two years. The study also revealed the following:
• 62% of businesses have adopted cloud-based video conferencing tools.
• Around 40% of businesses use video conferencing for over 2,000 times a month.
• Nearly 76% of companies use at least two or more video conferencing vendors.
• Close to 40% of businesses report a need for live streams with 1,000 participants.
More than 50% of businesses that respond to the survey plan to incorporate video conferencing into their strategic plan.
Video conferencing use cases
Businesses use video conferencing software in various ways to minimize costs, boost productivity, and increase efficiency. These include:
• HR and recruiting – Live video is used to conduct interviews to minimize travel costs and enable businesses to reach out to a bigger number of qualified candidates.
• Digital signage – A reliable video conferencing software allows a number of digital signage uses, such as delivering advertising messages at the point of purchase, providing directions in public spaces, and communicating with staff.
• Supply chain management – In the modern global economy, many businesses manage supply chains that cross international borders. Video conferencing offers face-to-face communication with the involved parties, allowing you to monitor work in progress in production facilities located at a distant place.
Benefits of video conferencing
Don’t know whether video conferencing is right for you? Consider the following reasons:
Reduced travel time and costs
Video conferencing reduces travel time and costs. The ability for IT personnel, internal teams, and managers to join client meetings and address issues from their offices can boost business productivity. Offering video communication for your customers can produce a competitive edge.
Employee retention
Cloud-based video conferencing offers mobility, contributing positively to employee retention. Fewer travel requirements enable better work/life balances as employees have the flexibility to work remotely and reduce the cost of commuting. Thanks to real-time face-to-face interactions through videos, remote employees continue to have close relationships with team members.
Improved communications
Video conferencing helps to arrange and conduct more structured meetings. This will save your team members from dealing with a large number of voicemails and emails. Every meeting follows a certain start time and end time. With everybody monitoring the limited time, it pushes people to become more direct. People avoid chatting and make time for productive discussions. Besides, video conferencing also humanizes your communications.
Video conferencing platforms
The platforms you use can vary based on your needs. Some of the most commonly used platforms include Zoom, Google Meet, Webex, and Skype. The key to successful video conferencing is to have the right live video tools to communicate effectively, regardless of the platform.
That’s where ManyCam comes in. ManyCam can be connected to any video conferencing app as a virtual camera. Once connected, you can use all its features to enhance your communication.
Basic requirements for video conferencing
The baseline requirements for video conferencing include a reliable internet connection, a CPU, and a high-definition camera. Other requirements are listed below:
• A minimum of 4GB RAM is required and 8GB is recommended.
• To share content, audio, and video, at least 4.5 Mbps of bandwidth is utilized.
For more on video conferencing equipment, check out these tips!
Video conferencing guide – Final thoughts
Video conferences are here to stay. When done well, these online meetings can be very productive and help businesses save money. Learn how to make your video conferences better here!
