Video – Key to Organizational Agility & Competitive Advantage

The pandemic made it obvious that organizational agility is critical in troubled times. However, there are also some common challenges that require organizational agility.

Video is of of vital importance for an organization to be agile. Video when used as a content strategy can help an organization gain a competitive advantage within their market.

Organizations need to stay current with rapidly advancing technology and adapt to meet new customer demands. Those that can pivot to meet these challenges will thrive.

In today’s digital age, video is an essential tool to stay ahead of the competition and get information across in a clear way to a specific audience.

What is Organizational Agility?

Organizational agility is the ability of an organization to change quickly and adapt in response to a challenging, rapidly changing environment.

This kind of agility requires speed and stability. Change needs to happen quickly in an organization and stability provides an anchor point of what doesn’t change while other transformation are getting implemented.

There are different forms of organizational agility, such as operational agility, portfolio agility and strategic agility. An organization must be able to quickly adapt to new opportunities, effectively mobilize company resources and gain competitive advantage through new innovations. 

The Importance of Organizational Agility for Companies to Thrive

What works today may not work tomorrow and organizations that can anticipate coming changes, pivot quickly, and capitalize on new technology, trends etc. will thrive while their competition is catching up.

Instead of change being a disruptive factor, video becomes a way to gain a competitive advantage.

Organizations that capitalize on new trends can release new products and services faster and find new customers without having to put in so much effort. 

Employees want to be part of organizations that value and encourage innovation. Prioritizing organizational agility means being able to better engage and retain employees.

Videos: A key component for Organizations to Adapt and Stay Ahead of the Competition

Organizations that can anticipate a new trend, design an innovative new product, and market it effectively on social media platforms by using video have a good chance of gaining a competitive advantage.

Today video is central to an organization’s marketing strategy and all teams within an organization should produce conversational and actionable videos. Consumers want to see videos from brands more than any other type of content.

Videos for the whole Customer Journey

Video is incredibly useful throughout the entire customer journey.

When businesses come up with a new product, a demo video will show customers how it works, whether it is through unboxing the product and putting it to the test or taking viewers on a virtual tour.

How-to videos can be invaluable in teaching an audience how to use a new product or service. While an explainer video can focus on a fictional journey of a core buyer persona struggling with a specific problem. The person who buys the product is able to overcome the problem.

Animated videos can also be a great format for getting across hard-to-grasp concepts, especially when explaining more complex technology. 

Building Authority and forming a Connection

Interviews with industry thought leaders are a good way to build authority with a target audience. Videos can also give an audience a taste of what it’s like to attend an industry event or conference.

Videos that allow potential customers to form an emotional connection with an organization can influence its conversion rate.

Online buyers don’t have the opportunity to touch products and video provides them with the next best thing. The use of 360-degree videos gives them the opportunity to fully explore a purchase before buying.

Video Testimonials from current customers

Potential customers today rely on the word of their peers more than advertising.

Case studies and testimonials featuring satisfied customers who have benefitted from using a product or service are very effective in promoting conversions. 

How to Efficiently Share Video Content across an Organization and among Teams

A consistent vision that all employees in an organization can work towards using actionable strategies helps to ensure organizational agility.

Sharing a vision boosts employee engagement and this increases individual job satisfaction and team productivity.

Breaking the vision down into a set of goals helps teams to prioritize their efforts and accomplish tasks with greater organizational impact.

An enterprise video solution will include videos such as onboarding videos for new employees, meet-the-team videos, and knowledge-based videos.

Remove Organizational Silos with Enterprise Solution

Most organizations are structured in ways that restrict inter-departmental collaboration and this can mean that product, sales and marketing divisions focus on their individual tasks and only collaborate at times.

It is much easier to react to industry changes when teams work together towards the same vision. There are many technological tools that foster collaboration and internal communication between teams with video playing an important role.

Create Multiple Users on one Master Account

Organizations and team leaders can add multiple members of a team to a master account and include specific permissions for users.

This can help manage video assets on one platform with teams collaborating and implementing changes on the go. While reducing chances of miscommunication  and increasing operational and logistical efficiency.

For example, a master account can set permissions for users that can only view video content but can’t edit or manage video content in the profile. Another example can be of a contributor accessing a specific folder within an account to upload, edit, review, and share videos within that folder but has restricted access to other folders within the organizational profile.

A robust digital asset management solution helps organizations to be more agile in a dynamic environment while improving efficiency across all departments within the organization.

Significance of a Video Hosting Solution for an Organization to be Agile

Businesses may ask why they need to use a video hosting platform when they can post videos on YouTube and reach a large audience without having to pay to upload and host videos. 

Video hosting services have a number of crucial benefits, from effective marketing tools to tech support.

The sheer number of videos and ads on YouTube can also detract from a viewer’s experience. Once viewers are on the platform like YouTube, they often jump from video to video rather than going to a business website.

Easy Enterprise Video Management

Video hosting platforms built specifically for businesses allow for digital asset management in one space.

Unless videos are well organized with an efficient naming structure, it can be hard to figure out which video lives where and this makes ongoing management and editing difficult.

Organized management of an entire video collection is possible when using an integration platform.

Businesses can publish and update social platforms from a central location and post videos without compromising their goals or professional standards.

With Video Hosting capabilities, wherever someone views a video or a group of people watch it at the same time, the video always loads quickly, looks great and with no real time lag, hence, improving viewing experience for users visiting your website.

Video hosting service does most of the hard work, such as compressing the video if needed and automatically encoding it to make it viewable across devices.

Secure Video Hosting

Most video hosting platforms provide secure storage and offer automatic backup. Secure storage is important if some videos are not meant for public consumption.

Rigorous security features allow businesses to share private and confidential information knowing that the only people viewing it will be those to whom they have given permission.

Actionable Video Analytics

Not measuring and analyzing the right data will prevent businesses from improving their operations.

Businesses can obtain all kinds of insights by using a video hosting platform. Popular metrics they will see include view count, play rate, social sharing and comments, video completions, click-through rate, and conversion rate.

Businesses can see exactly who watched their videos, how much they watched, and which parts engaged viewers the most by using  video analytics.

By knowing how videos are performing in real-time, it is possible to identify trends and patterns in user behavior and tweak the content. For example, knowing that people stop watching a video at a certain point provides them with the opportunity to figure out why and make changes.

Easily use Videos on Landing Pages

Videos help to improve conversions/lead generation and video hosting platforms make it easy to use them on landing pages.

One of the most effective videos to use on a landing page is an explainer video that showcases what a product looks like and how to use it. A video like this will get viewers to stay on a landing page longer, offering a better chance of conversion and better rankings on the search engines. 

Generate Qualified Leads with CTA Forms

Some video platforms allow businesses to integrate lead capture forms directly into videos. Without a call-to-action, a video is like a fishing line without a hook.

Viewers need to be prompted to take action. If the platform is integrated with a CRM, all leads are automatically stored in the CRM.

Increase Brand Awareness

It is not possible to fully remove YouTube branding from your video players, whereas using a video hosting platform means being able to “white-label” your video and the environment around it to create more brand awareness.

Most video hosting platforms allow businesses to change the player color or define how a video plays to make this consistent with their overall branding.

Integrate with other Solutions

Many hosting platforms natively integrate with other sales and marketing solutions businesses are already using.

With the help of such integrations, it’s possible for businesses to engage in a comprehensive marketing campaign

Annotation

Annotation on video hosting platforms helps to extract intelligence from videos by annotating objects frame-by-frame. This makes them recognizable to machine learning models.

Conclusion

Many businesses face challenges consistently as technology advances, the economy changes and new competitors keep appearing.

For an organization to remain strong and thrive not only in times of crisis but in the face of any challenges, a culture of organizational agility is beneficial.

Creating videos and using a video hosting platform is essential for the type of digital asset management required to assist with organizational agility.

Originally published on September 23rd, 2021
The Blog

Video – Key to Organizational Agility & Competitive Advantage

by Simi time to read: 7 min
0