Thursday, October 11, 2007

Leverage Your VCU Investment

Companies that have embraced video conferencing will be happy to know that they can leverage that investment to facilitate webcasting. The video conferencing rooms they have outfitted can be used as "studios" to create video content for internet broadcast.

Instead of sending the signal to another receiving video conference room, a webcasting company can take the video signal from the video conferencing unit (VCU) and encode it for real time or on demand streaming over the internet.

Video conferencing and webcasting are different tools with different purposes. A webcast streams content directly to the viewers' computers and the content is viewed with a common media player like Windows Media Player or Real Player. The audio is heard over the computer speakers.

Using this tool, a top ten pharmaceutical company produced the following ROI:

- Reduced Investigator Meeting Costs by over 67%
- Reduced Sales Training Costs by $130k-$200k versus off site (65%)
- Reduced Medical Education costs by over $300 per physician (70%)
- Reduced Direct to Physician (DTP) marketing costs by over 40%
- Rep calls increased over 3x and physician touch increased from 3 to 8 minutes.

One company replaced a sales teleconference that cost $40 per attendee with a web-conference that cost $3.75 per attendee, reducing costs from $32,500 to $3,000.

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