5 Benefits Of Videoconferencing In Business

Videoconferencing is now a popular form of communication in business. Combining the face-to-face interaction of an in-person meeting and the distance of a phone call, it has opened up many new opportunities for companies. Here are five of the biggest benefits to adopting videoconferencing.

Save time and money spent travelling to meetings

A physical meeting requires at least one person in the meeting to travel in order to attend. A lot of time can be wasted travelling to and from these meetings, plus a lot of money could be spent travelling either on fuel or public transport fees. Videoconferences allow both parties to stay at their desks instead of having to waste time and money travelling somewhere.

Reduce cancelled meetings

Videoconferences can also reduce the likeliness of meetings being cancelled. For instance, an applicant may consider cancelling an interview if they are sick or injured as they may not feel up for travelling, however they’re less likely to cancel the interview if they can stay in their home and talk from there. Less cancellations could mean more opportunities – especially when it comes to talking with promising large-ticket customers via videoconference.

Improve relationships with remote clients/employees/suppliers

Videoconferencing makes it possible to have face-to-face conversations with people based half-way across the world. Communicating with these people might otherwise require emails and phone calls. By being able to have a face-to-face conversation, it can make it possible to use body language and build a greater rapport with people as if you were meeting in person. It could also be a great way of getting remote team members to work together more effectively.

Reduce the cost of meeting space

Relying on videoconferencing could also cut out the need to hire out physical meeting rooms. If you currently spend a lot of money hiring out these types of rooms for meetings, you could find that you save a lot of money. If you have meeting space in your office, it could meanwhile allow you to repurpose this room or rent it out to others.

Increase hiring/customer scope

You can also use videoconferencing to broaden your scope when looking for new recruits and customers. When looking for recruits from other countries, you could find that many applicants aren’t willing to give an interview unless it’s via video conference so that they can see the recruiter they’re talking to. You could also attract more customers in certain professions by offering video-conferencing. Someone planning to move abroad may show interest in a property if virtual viewings via Zoom are a option – it could save them having to travel over and view properties in person.

6 Do’s and Don’ts of Growing Your Small Business

There’s no doubt that being an entrepreneur can be a learning curve with many challenges. When it comes to running a small business, you’ll have to leverage your leadership skills while being prepared to learn from your mistakes. Small businesses often struggle with profitability for numerous different reasons: to avoid common pitfalls, make sure to read these six important do’s and don’ts of growing your small business. 

DO Take Calculated Risks 

Success simply doesn’t happen overnight – it takes tenacity, self-confidence, and courage to push through. Without taking calculated risks along your entrepreneurial journey, you’ll never be able to reach or see or even reach your business’ full potential. It’s important to take the plunge and branch out both financially and personally – this could mean applying for an additional loan, or speaking out about regulations that you think are unreasonable. 

DO Listen to Feedback from Customers

Obtaining customer feedback is crucial in communicating your commitment to enhancing your customer’s experience. It’ll help to dial down on specific areas that your business needs to improve in, and may even offer inspiration for new ideas. More importantly, you’ll be able to understand the exact needs of your customers, and why they may choose to purchase from your competitors.  

DO Use Smart Marketing Tools 

Modern marketing tools have completely transformed how business owners can grow their brand. If you are serious about expanding your business’ presence and beating your competitors, you’ll want to invest in impactful marketing strategies. Take advantage of learning and putting into practice the likes of social media for small businesses, SEO, and analytical tools. Armed with smart, contemporary marketing tools, you’ll be able to target both your existing and potential customers, establish a competitive edge, and even cut down costs associated with older strategies of marketing. 

DON’T Rush Into Hiring Employees 

Employees are arguably one of your most valuable assets in a company. Their performance and engagement levels within your business can either make or break your success. Rather than rushing into the process of getting your business off the ground through hiring, build your dream team by employing people with specific industry experience and skills with the drive to learn. 

DON’T Try To Do Everything 

In the competitive business world of today, being a small business owner can be a difficult task. Despite this, many people choose to believe that they can complete all of their business processes without any help. While it may seem feasible at first, it can quickly result in a loss of valuable time and resources that could have been used elsewhere. 

DON’T Get Carried Away With Success As a business owner, you are the forefront image of your company. Arrogance can easily backfire onto your business’s reputation and discourage customers, so being approachable to others while networking and demonstrating your eagerness to cooperate can go a long way. In business, you’ll want to be recognised as a humble individual who is proud of what you have achieved, but is also comfortable with being held accountable for any mistakes.

Discover The Reasons For The Deadly Lost Sale

Are you worried about the high level of lost sales in your business model? Here’s what might be going wrong. 

Low Choices 

First, you do need to provide your customers with as many choices as possible. If you don’t offer them all the choices, then it’s possible the choice they want isn’t there and that could stop them from buying. This could be linked to deliveries. Or, it might be something to do with purchase options. Some customers will prefer to buy through a debit card while others will want to buy on credit. You should be able to offer all these possibilities. 

No Info 

Often a key issue that stops customers from committing to a purchase is not being able to find the information that they need. If customers can’t find the answer to a question, then they are unlikely to buy. That’s why you might want to invest in web chat software. This is an easy way to engage and deliver the answers that customers need. It’s also useful if your site has a poor structure. Don’t forget, it shouldn’t take customers anything more than three clicks to find what they want on your site. A web chat software can cut through the maze and help them find the page they are looking for immediately. 

Poor Engagement 

One of the key mistakes that people often make is thinking that getting a customer to put the product in the basket is the final problem, but that’s not the case. A lot of baskets are abandoned for a wide variety of reasons. That’s why you need to make sure that you are engaging with your customers the right way. Specifically, you should think about following up and querying why they left the basket in the first place. You can do this through a wide range of different sources including email and social media. Once you engage, you’re more likely to save the sale. 

Overpriced

You quite literally can’t afford to be outpriced by the competition. If this happens, then you will end up in a situation where you are struggling to get the number of customers that you want. Customers are fickle and very easily swayed by a cheaper deal. If you are worried about this, then it’s best to research and keep a check on different prices on the market. Ideally, your price shouldn’t be too high but you can’t afford to undercut them either. Doing so could trigger a price war and that’s the last thing you want. 

Terrible Presentation 

Or finally, you might find that customers choose not to continue with a purchase because of the presentation of a product or a service. This is why it’s so important to get images and web design right online, If you don’t do this, then you will end up in a situation where customers think that you are delivering a poor quality solution. The trick here is to make sure that you are hiring a web designer. They will get you to the right point.