According to a recent Forrester TechRadar™ Video Technologies report, companies are using visual engagement solutions as a key component in a wider overall video technology landscape through which to reach employees, prospects, and existing customers. Based on a survey of over 18,000 decision makers involved in planning, funding, and purchasing business and technology products and services, the report details fifteen separate video solutions that span a wide spectrum, including webcasting to drive lead generation, video conferencing to speed time-to-market, and visual engagement (includind one-way and face-to-face video, screen sharing, cobrowsing, and annotating) to help clients and prospects in service-related scenarios.
Specifically, visual engagement technology is poised for significant success, since it can help businesses drive revenue. Visual engagement helps sales reps and contact center agents be more effective and productive in helping prospects and existing customers successfully navigate the “Buy” and “Use” phases of the customer life cycle. Live one-on-one visual engagement is a key factor in the online customer experience—and in optimizing customer service productivity. The report cites the example of financial services companies that have cut their support time in half using visual engagement.
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The TechRadar survey asked what initiatives are likely to be top business priorities over the next 12 months. Sixty-eight percent of respondents selected “Improve customer experience,” second only to “Grow revenue” at 71%. Visual engagement technology, which includes customer-facing face-to-face video chatting, screen sharing, cobrowsing, and annotating, is a crucial component in improving customer experience.
The report points out that the technology has positive ROI use cases in financial services, healthcare, manufacturing, and other verticals. Unlike video conferencing, visual engagement provides a highly collaborative personal connection. The ability for video engagement to strengthen the emotional bond between agents and clients can be especially valuable for more complex service-related scenarios such as those encountered by financial advisors, healthcare providers, and others.
The report concludes that, while still in its early days, examples in a variety of verticals point to increased revenues and improved customer experiences. The report notes, “As more Millennials bring their consumer experiences with video and visual engagement, they’ll be more likely to engage with brands using similar technology.” The report advises companies to choose technologies that fit their maturity and tightly integrate with other enterprise applications. For companies with lower video maturity, the TechRadar report recommends beginning by serving existing customers.
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