The digitization has transformed the approaches businesses used to take to reach their goals. With the pandemic, the trend of ‘new normal’ has got a further boost resulting in new concepts to let the organizations stick to their mission, vision, goals and strategies.
The growing adoption of virtual town hall meetings is one of such outcomes. According to the recent statistics, 94% of the businesses claimed that video conferences and virtual meetings increase their productivity, while 89% of the users admitted that virtual meetings and conferencing make it easier for them to connect.
The virtual town hall meetings definitely form a significant part of such online meetings. Easy content sharing, high engagement, interactive features, and easy follow-ups are some of the top reasons why virtual town hall meetings are getting highly popular around the globe. But there’s more to it. In this blog, we will walk you through all you need to know about virtual town hall meetings.
What Is a Virtual Town Hall Meeting?
Virtual town hall meeting has become a common term in this era of remote and hybrid online culture. A virtual town hall meeting is an online event hosted in a company by the higher management members. The purpose of such meetings is to communicate with various departments, respective teams, and keep all updated about the ongoing processes, upcoming milestones or goals, any changes in operational or other activities, and the overall direction of the company.
While it has always been a good practice for the companies, the rising number of remote and hybrid organizations has become a major reason behind its growing popularity. Conducting such online meetings at regular intervals helps in improving the overall organizational alignment and maintaining a connected, transparent and cohesive culture. In the next section we will discuss it in more detail.
Why Should You Conduct Virtual Town Hall Meetings?
No matter what type of business you are running or in which sector you are operating, conducting virtual town hall meetings can help you at various levels, especially if you have adopted a remote or virtual work culture. Here we have listed out the top reasons why you should conduct different types of virtual town hall meetings such as corporate town hall meetings, live town hall meeting broadcasting, and others.
Efficient Global Communication
Communication is the key that determines the success of a company. But what if your company has a remote or hybrid culture with the employees from different parts of the globe?
Virtual town hall meetings break this barrier and keep the communication flawless and intact. Be it discussing the next business goal, or simply ensuring the coordination among various teams, virtual town hall meetings serve all these purposes in a cost-effective manner.
Higher Employee Engagement
Higher employee engagement leads the way to the proper functionality of a company. Virtual town hall meetings are a great way to reduce any possible communication gap or functional gaps among different teams.
As all the team members of the company get to participate in such meetings, and have a clear understanding about what the upcoming goal is, or where their joint efforts are leading them to, this helps keep them interested in the company activities and lets them participate more actively in the related company activities.
More Growth Scope
Virtual town hall meetings are a good way to discuss the current project’s scope, new prospects, and strategies to keep the participants on the same page. Without such communication and meetings, it can be difficult to convey the crucial information related to the upcoming opportunities or business growth.
Time & Cost Effective
Virtual town hall meetings work well even for strict time and cost constraints. Regular company-wide meetings are pivotal for any organization. But at the same time, traditional town hall meetings are costly and time consuming. Especially, if you have several branches or employees around the globe, it is quite challenging to gather them all.
Also, the cost associated with such arrangements is often high, including transport costs such as airfare, parking, stay, meeting place, and others. But virtual town hall meetings saves you from spending heavily or devoting a lot of time unnecessarily. No wonder that even in-office work culture has adopted such meetings for a while now for overseas communication and meetings within the companies.
Challenges of Virtual Town Hall Meeting
One of the main challenges of virtual town hall meetings is overcoming the limitations. The online meeting platforms like Zoom works well if the participants number is limited. But for medium to big companies, it’s not that efficient and the cost is quite high compared to the offerings.
For instance, in Zoom, even for the paid plans the number of participants of an online meeting is limited between 500 to 1000. The enterprise plan costs over $200 per year per license and yet won’t suffice for larger organizations’ requirements. Furthermore, there are restrictions on cloud storage and scalability to accommodate the requirements of a growing company. So, what are the leading organizations with a large number of employees doing? Let’s see.
Reach Out to Unlimited Audiences With Muvi Live
The solution to the above-mentioned limitations is – adopting a quality live streaming platform. But well, not every live streaming platform will come with what you are looking for.
Muvi Live, an enterprise-grade live streaming platform, can help you solve this through a few button clicks. Not only can you live stream such virtual town hall meetings to the unlimited number of participants without making a hole in your pocket, but can also avail several other benefits.
Meetings recording and sharing, simultaneously reaching out to your participants over multiple platforms, or conveying important highlights to any number of employees as and when required – these all can be achieved easily with Muvi Live. Take a 14-day free trial today to see the difference firsthand (no credit card needed).