In 2022, businesses plan to rapidly accelerate their technological investments, according to new data from Gartner. "Our research this year showed that technology investments are going way up," said Monika Sinha, research vice president at Gartner, in a call ahead of the virtual Gartner IT Symposium/Xpo 2021. "In fact, technology investments are going to be at the highest they've been over the last decade."
Over the past several years, tech has been foundational to organizations’ digital transformation strategies — especially with the rise of remote and hybrid work. And video will continue to play a crucial role in the enterprise technology stack. In our recent State of Enterprise Video report, we found that 88% enterprises expect their video content output to increase in 2022.
Video enables businesses to reach wider audiences, improve customer engagement, support learning and development, recruit and retain employees, and sell more products and services. But organizations should take care to invest strategically in video solutions this year, or risk contending with a bloated or disjointed tech stack.
The need for consolidation
Too many enterprises focus on the short term when selecting new technologies. Often, they’re looking to solve a specific problem that already exists, which can lead to “band-aid” investments that provide a quick fix but disintegrate over time. What’s more, many organizations continue to add new technologies to their stacks in an attempt to augment a solution that isn’t working.
When it comes to video technology, many businesses rely on a patchwork of different digital tools and hardware for the creation, recording, broadcasting, and distribution of content. Bloated tech stacks like these often lack interoperability, making them costly, complex, and difficult to manage. Too many disparate technologies ultimately slow your team down and leave your organization vulnerable to future disruption.
To future-proof your video tech stack, you must consolidate it. A more unified approach enables organizations to better scale video output, create process efficiencies, improve customer experiences, and remain agile. As a result, you can innovate at scale, testing new ideas and bringing standout creative campaigns to market faster than the competition.
5 steps to simplify your video tech stack
One reason companies put off tech stack consolidation is they simply don’t know where to start. Technology is the lifeblood of modern business, and intentionally removing (some of) it from your stack can seem daunting. So we put together this checklist to help keep you on track:
- Map your video processes. Determine which technologies are used for each part of the video process across your organization. This should include the creation, recording, broadcasting, and distribution of video content, so be sure to get input from team members in every relevant department to ensure accuracy and alignment.
- Identify redundancies and excesses. Look for repetitive technologies or solutions that are no longer in use. Are you using two video technologies that perform the same purpose for different use cases? Are there video tools you pay for that aren’t being used in any of your processes?
- Prioritize cohesiveness. You might love using a specific video tool, but if it isn’t compatible with your company’s other systems and processes, you’ll hit roadblocks. Similarly, if you’re pushing audiences to third-party video players instead of your own website, you can create a disconnect between your customers and your brand.
- Evaluate vendors. Oftentimes, it’s strategic to abandon technologies that simply aren’t working. When evaluating new vendors, look for unified solutions like Socialive over individual tools to streamline processes and reduce complexities. Additionally, find a vendor committed to partnership to help you achieve your video goals while staying true to your company’s vision.
- Regularly reassess. To ensure optimal efficiency and performance, you should frequently re-evaluate your video tech stack. Set measurable KPIs that line up with your objectives, and communicate often with your vendor to identify room for improvement.
Enterprises are investing in new technology at historically high rates. But investment alone won’t get your organization very far without a forward-looking strategy. The sooner you future-proof your video tech stack, the sooner you can focus on the work that sets your business apart, ensuring greater resiliency down the road.
Ready to try an end-to-end video platform? Schedule a demo with us today.