The rise and rise of video on demand (VOD) services has continued apace for well over a decade at this point, and there are still plenty of companies that have yet to fully explore the advantages.
So why should you consider harnessing Video on Demand within your organization, and what are the best ways to go about this?
1. Establishing authority
This is possible because when you publish video content that can be streamed at will, you’ll be providing a valuable resource to viewers who are interested in the topics you tackle. In turn this means your business will be seen as an authority on a given subject, and will earn the trust of all who consume it.
Whether you make instructional videos for your construction supplies firm, or behind the scenes clips for your marketing agency, Video on Demand helps you stand out.
2. Exploring new revenue streams
Video on Demand content isn’t just something you put out there for all to see with the aim of justifying the expense through increased brand credibility and customer trust; it can also be a product in its own right that you sell to generate revenue.
This is where the popularity of subscription-based streaming services comes into play. Big names like Netflix have helped to normalize the concept of subscribing to a platform and paying regularly to receive access to the content it hosts.
For businesses, you could extract even more value from a Video on Demand service by making it available via a subscription. This usually means having some pieces of content available free of charge, while others are exclusively offered up to subscribers, thus incentivizing people to pay.
3. Empowering customers
Ideally your video content will be focused on conveying relevant information to the audience in a concise way. In the right context, this can be advantageous to the customer’s journey, and boost conversion rates as a result.
Say, for example, that you have an ecommerce site with a whole host of product pages included, currently filled with dry text describing the features and functions. By adding Video on Demand content to each, you can get this information across in a much more engaging and efficient way.
This leaves customers with all the details they need to make a decision, while also allowing you to better showcase the products in question. Still images are all well and good, but video does a better job of demonstrating the full appeal of the items on your store.
3. Ensuring round-the-clock coverage
As with all online services, VOD doesn’t have to be limited to a specific period of availability on a given day. Instead it can be accessed whenever and wherever a viewer might need it, whether that’s on an early morning commute or a late night binge-watching session.
This ensures that any video content you publish will not only be on tap as needed, but will continue to pay dividends year after year. Even if your offices are closed and your team is tucked up in bed, your videos will be there to assist customers and engage with potential prospects at all times.
4. Enabling in-house advantages
Depending on the size and scope of your company, you could have a need for VOD which is capable of serving different teams in different locations. Training content, instructional videos and other types of clips required for internal use can be easily and affordably hosted on modern VOD platforms.
This is also useful in the case that your company employs remote workers and contractors, who may be based in a completely different part of the country or the world.
With the main benefits of video on demand streaming understood, you are now faced with the opportunity to turn your business into one which is capable of keeping pace with its rivals, connecting with customers, and engaging employees more effectively.
Video content is very much the way forward, and while it will always be used in combination with other formats, its role will become more and more prominent, especially as tools like VOD streaming get more affordable.