Video conferencing software enables remote workers to collaborate and drive value for organizations. From that, it would seem self-evident that video conferencing software has a high ROI, regardless of which solution you use.
However, that isn’t the case – some video conferencing solutions have higher SaaS ROI than others. How do you determine the value of your video conferencing solution then?
In this post, we’ll explore what video conferencing software ROI means, how to calculate it, and how Productiv can help.
What Is Video Conferencing Software ROI?
When we think of ROI, we tend to focus on the costs we’re saving when we implement a solution, or the revenue we’ve earned after implementation. While those things are important, they’re not the only factors that matter when it comes to video conferencing software ROI.
You should also look at:
- Are employees actually using the video conferencing software you’ve purchased?
- Do you have the right number of licenses, and are those licenses at the right tiers?
- What does employee engagement with the software look like?
- Are you meeting software adoption goals?
- Are employees only using the video conferencing software you’ve purchased, or are they using other, similar apps (which might not be sanctioned by IT)?
- How are they actually using the tools to collaborate with other employees and external partners?
How Can You Calculate Video Conferencing Software ROI?
Let’s go back to our previous point about the conception of video conferencing software ROI. It’s easy to calculate how much you’re saving or how much extra revenue you’ve earned as a result of implementing a solution such as Zoom. How do you determine the other factors (such as application usage or app engagement), though?
That’s where Productiv comes in! Productiv provides real-time analytics about how employees use your video conferencing software.
In the following sections, we’ll use real-world examples about how Productiv customers determine their SaaS ROI from video conferencing software.
How Productiv Analyzes Video Conferencing Software ROI
The Productiv SaaS platform analyzes over 100M data points per day. One major enterprise client utilizes Productiv to analyze the video conference software usage of Zoom. We evaluated two 30-day periods: the first was in January 2020, before nationwide lockdowns, and the second was December 2020.
Here’s what the data from Productiv revealed:
- Video conferencing software usage rose significantly
- One-on-one collaboration skyrocketed
- The number of larger meetings grew
- Recorded meetings nearly tripled
- Employees used other video conferencing software programs aside from Zoom
- Account management and client teams were primary users before COVID
- New teams, like business planning, became bigger users in the shift towards remote work
With Productiv, clients understand what their costs are vis-a-vis collaboration and usage levels. For example, if the company uses Zoom 40% more, and collaboration levels tripled while costs only rose 20%, that’s good ROI. Yet, if costs double and collaboration levels only rise 20%, the investment isn’t delivering a great return.
Usage Rose by 40%
In January 2020, 25,000 employees of this major enterprise client used Zoom; eleven months later, that number had risen by 40%.
Productiv’s real-time analytics showed that Zoom was indeed a valuable video conferencing software tool because it enabled remote employees to work together in spite of office closures.
Productiv tracks application usage, so you understand if employees are using the software in which you’ve invested (or not). However, that’s just at the most basic level. In the following sections, you’ll see the other valuable data Productiv delivers on video conferencing software ROI.
One-on-One Collaboration Skyrocketed
Additionally, Productiv monitors how employees use video conferencing software. In the case of the major client, one-on-one collaboration was a major use case for Zoom.
During the first period in which Productiv collected data, 25,000 users held approximately 62,000 internal meetings. By the end of 2020, users held 452,000 meetings – a 500% increase! Moreover, 69% of these meetings were one-on-one. This particular statistic gives decision makers insight into how employees use Zoom; clearly, it fuels collaboration during a time when face-to-face meetings aren’t possible.
Thanks to Productiv’s real-time analytics, the client was able to see clearly how Zoom delivered video conferencing software ROI, and how its usage drives the company forward.
The Number of Larger Meetings Grew
With Productiv, the major client learned two interesting facts:
- During the pandemic, the organization held fewer meetings with people outside of the company (172,000 in January 2020 vs. 148,000 in December 2020)
- The external meetings it held with six or more people grew (19,149 in January 2020 vs. 41,898 in December 2020)
Both facts make sense: during a period of instability and uncertainty, the company held more internal meetings. The meetings the company held with external partners tended to be larger, to ensure the right people were making decisions for greater efficiency. Moreover, the number of larger meetings grew because employees directed their attention to alignment meetings, where more members of the staff were expected to attend.
This granular information gave the client insight into how employees engaged with the app. Employee engagement has to do with how often employees use an app, how they use the app, and whether some teams or employees use an app more than others.
Recorded Meetings Nearly Tripled
When you invest in video conferencing software, it’s important to know whether employees are making use of all of the features (especially the premium ones). Productiv’s real-time analytics offer this information at a glance.
For example, recorded meetings at the major client nearly tripled between January and December 2020. In January 2020, only 8% of users recorded their Zoom meetings. By the end of the year, that number had risen to 22%.
These statistics hint at the use of Zoom’s premium features (Zoom’s premium packages offer 1GB of cloud recording). For companies that have invested in such features, knowing that employees are using them proves there’s SaaS ROI.
Users Also Turned to Google Meet
Raise your hand if you’ve ever been in this situation: you invest in a software application that the vendor swears will increase collaboration (and, by extension, revenue). After a few months, you discover that barely anyone uses the software at all; in fact, they’re using other solutions (not all of which are enterprise-grade).
Productiv’s analysis of its major client revealed that the number of Google Meet users jumped from 4,000 to 10,000. Many of these employees had access to Zoom, although it may have been simpler to utilize Google Meet if they were already collaborating within Google Workspace.
One of Productiv’s functionalities is that it identifies applications similar to the ones for which you’re paying. With that knowledge, you can create a strategy to encourage employees to move away from other apps.
Productiv’s SaaS ROI platform helps you calculate the return on investment you’re getting from video conferencing software so you can make the right decisions for your company.