: Five Ways to Profit from Using Video Online by: Liz Micik The newest media wave to hit the online shore is video. Individual emails abound with links to "the funniest video ever," or blurry clips of new babies or birthday

Posted in: #Online-Business #Video #Costs #Savings #Online #People #Remember #Micik #Cost-Savings #Cost #Liz-Micik #Tra

Five Ways to Profit from Using Video Online

by: Liz Micik

The newest media wave to hit the online shore is video. Individual emails abound with links to "the funniest video ever," or blurry clips of new babies or birthday parties.
Businesses, on the other hand, have largely been left standing on the shore, scratching their heads and wondering if there's any real value to be earned from diving into making their own live video broadcasts, video emails or video on demand infommercials. Here are just five of the many ways video adds to the bottom line of any company.
1. People remember more of your message
While people generally remember 10% of what they read and 20% of what they hear. But, they'll remember as much as 50% of what they see and hear together. Before anyone can act on your message, they need to process and remember it.
2. Increase responses by up to 30%
A call to action is much easier to follow if it is actively delivered. Sound and motion are powerful action drivers, especially when they are delivered by your sincere enthusiasm and passion for your topic. Companies who have made the switch to video email and on- demand broadcasts have reported response rates jump as much as 30% following a broadcast.
3. Build your credibility
People do business with people they know, like and trust. When you cut through the technological barriers of the Internet and put yourself online, you put "your self on the line" as far as viewers are concerned. The time it would normally take you to build a relationship with a potential customer can be dramatically shortened as a result.
4. The cost savings are obvious
Anytime you can avoid the high costs of sending someone on the road to meet with clients or attend a meeting, the bottom line savings are immediate and obvious. In addition to any costs associated with attending a meeting, you need to factor in travel costs covering airfares to taxis and tolls, hotel costs, meal expenses, and even your internal costs to process the expense paperwork.
5. Soft cost savings multiply returns
Spare yourself the productivity drain and the physical and mental tolls travel takes on your company's road warriors and you could enjoy "soft" cost savings that dwarf your hard dollar travel costs. Want an example? Look at your own calendar for the past month and count up just the hours you spent traveling to and from meetings. Multiply that by your hourly wage, and then by the number of employees in your firm.
If reasons like these don't help you convince the reluctant decision makers in your company to add video to your communications mix, please be patient with them. Historically they are in good company. There were many who claimed the smeary images on hard to handle rolls of paper called "faxes" could never function in place of an original document. And who, they asked, would ever want to spend more time typing an email message when they could so easily pick up a telephone and place a call?
Copyright 2005 Liz Micik