Engagement is a critical factor for how effectively information is conveyed, retained and put into practice. It has long been a goal of educators and trainers to better understand human behavior in learning situations.
After years of trial and error with learning systems composed largely of text-based modules, the most progressive organizations have realized one thing: Video is a more effective mode for learning.
Recent research has shown that on average over 60% of information presented in video form is retained by the audience, compared with around 10% for text. This has big implications for helping organizations overcome some of their most vexing communications challenges. Even more effective than just video, however, is live streaming. By combining the connectivity of live communication with the inherent benefits of video, live streaming has changed the way modern businesses operate and communicate.
The 2017 Viostream Internal Communications Benchmark found organizations that have already incorporated video into their internal communications strategies report five key applications in order of importance:
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.
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.
In 2019, a survey conducted by the video creation company Promo.com revealed that more than 49% of people watch more than five online videos per day--and that was before the Covid-19 pandemic drove everyone online. Even so, the Viostream Benchmark Report supports this, finding that over 40 percent of surveyed organizations 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 video on-demand (VOD) 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.
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." It’s this quality that seems to command the audience's attention and improve their rates of retention with video when compared with other mediums. Perhaps the most authentic part of the TED talk is its feeling of immediacy--the speaker typically walks around on stage as opposed to standing at a podium, delivering their message in a more casual and "off-the-cuff" manner to a live audience. By bringing a similar level of genuine engagement and attitude, you can make your live streaming events feel just as intimate and be just as effective.
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, from small internal meetings and training to large "town hall" style events such as product launches, where large numbers of people are connected across multiple locations.
The key to live streaming success is being able to deliver a smooth and consistent user experience. It doesn’t need to be overly complicated or expensive, but you must make sure to have the proper IT infrastructure in order to reduce the chance of any hiccups that would hinder the viewer experience. Invest in powerful, robust technology that is both secure and able to be delivered at scale, whether it’s for large or dispersed audiences. The technology also needs to work easily with your existing network, IT systems and tools.
It is also critically important that you choose a video partner who understands what you need in terms of change management, and who will work with you on your journey. For a trusted partner who has served both corporations and governments for over 20 years, consider Viostream for your live streaming needs. Get in touch with our customer care specialists to start on the path towards more effective internal communications, greater staff engagement and better outcomes for your business.
Engage your team members by incorporating video into your internal communication plan template.