The current global health crisis has accelerated the digitization of business for a wide array of industries, but many would argue that ubiquitous connectivity and the advent of technologies such as augmented reality and virtual event software was already pushing business into a virtual world. As stated by Smarsh founder Steve Marsh, remote work is another major reason why businesses are embracing online, video, cloud storage, and virtual tools providing “an opportunity to remake businesses.” Remote work, studies have shown, boosts productivity, lowers expenses, and helps lower individual and organizational carbon footprints. No longer are physical meetings required to connect and complete projects of all sizes.

The Video Conferencing Boom Strikes 

Companies save around $11,000 annually per employee by using video conferencing software, since doing so helps reduce traveling costs and helps to significantly shorten project timelines. Currently, around 83% of businesses with more than 250 employees are likely to invest in video conferencing tools, 78% of corporations are using video calling software, and around 27% of small businesses are likely to invest in this technology. Such is the popularity of video conferring that rules of etiquette, dress codes, and procedures have arisen, so as to boost its efficiency even further. For instance, it is common practice these days to send a meeting agenda prior to video calls so that attenders can prepare and conduct the required research. Dress codes are also defined, with standard practice dictating that callers should generally stick to industry-appropriate clothing while also embracing self-expression through video call-appropriate jewelry and accessories. This includes minimalist jewelry (such as small earrings and fine chains), as well as signature and statement pieces in creative industries such as fashion and design.

Virtual Events: Sustainable And Practical

Reduced rates of travel and health concerns have led to a boom in virtual events, in which businesses display new product collections or inform potential clients of new services in virtual booths or stands. The key to virtual event software is interactivity. Virtual attendees can obtain more information on specific products, take a 3D look at items they’re interested in, chat to the exhibitor’s employees in real time, or take part in a video call to discuss potential purchases. Larger events include virtual trade shows or trade fairs, in which suppliers and visitors from a specific industry meet to exchange information, communicate, introduce new lines, or generate business via integrated e-commerce technology.

Augmented Reality For Richer Shopping Experiences

Savvy businesses are embracing augmented reality to up the quality and realism of online shopping experiences. Tech Republic predicts that the AR market will be worth $60.55 billion by 2023, and is likely to be led by some of the biggest tech companies – including Microsoft, Samsung and Google. Just a few companies leading the way in the use of AR to boost revenue include IKEA, whose app allows users to see how individual items of furniture would look in their home. AR is also currently being used to enable technicians to provide remote support to clients, to educate and train staff, and to increase client engagement in online store shopping.
New technologies such as the latest video conferencing software, virtual events technology, and AR are enabling companies to boost their revenue and decrease their carbon footprint. They are very much necessary in a world in which telecommuting has taken a firm hold. Virtual, augmented, and video conferencing technologies are enabling companies to connect with clients, but also communicate more effectively with employees, and even provide education and training while significantly cutting back on the costs of travel and office rentals.