While medical and legal transcription remains the most sought after niches, transcription services play a significant role in the success of pretty much any industry – from retail to automotive to scientific research in government agencies and private enterprises. Transcription for businesses helps corporations cut down costs and streamline their operations by enabling accurate maintenance of records, helping match client expectations, boosting marketing endeavors, and improving employee training programs.
Considering the growing needs of transcription for businesses, the speech recognition industry is bucking up and is forecasted to experience explosive growth: from USD 5.15 Billion in 2016 to USD 18.30 Billion by 2023.
Now, while the speech recognition and transcription industries are similar, they’re not the same. Speech recognition is primarily AI-powered and is considered a “good start” in the intricate transcription process, which still remains heavily reliant on human intervention for overall quality.
So while a dictation software can give you a head start, you’d still want the bulk of your transcription work handled by humans, preferably a reliable transcription partner.
6 transcription services to leverage in your business
1. Business meeting transcription
A lot of strategic decisions are taken in business meetings and mostly at a pace that supersedes your furious note-taking. Besides, if you’re busy taking notes, when will you participate? And then there’s the MoM you need to send at the end of it…
You know what will take the pressure off? A dedicated schedule for transcribing your business meetings.
Transcribing business meetings has several advantages:
- Ensures holistic participation of employees because everybody can bring their ideas to the table instead of hanging back and taking notes.
- Can help you maintain accurate records of decisions even after you walk out of the meeting room with no paper notes/
- Can be shared with all relevant stakeholders even if they weren’t able to participate in person, thereby keeping them up to date about the details of the meeting.
With a reliable transcription partner, you can get accurate transcripts of all business meetings from Q&A sessions, annual strategy meets, to Skype meetings with remote employees.
2. Transcribing conferences, seminars, and summits
As a growing company, you must know how important businesses conferences, seminars, and summits are for customer engagement and to establish your enterprise as an industry leader.
The data generated in these conferences and summits is immense: They alert you to customer pain points, which you can explore to improve or create new products or services. Moreover, sessions conducted by your keynote speakers offer a wealth of information to position yourself better in the market.
We’re sure you would agree that getting a high-quality transcript of a seminar hosted by you can be immensely valuable not only for record keeping but also steering your company in new directions.
3. Transcripts of employment interviews
Did you know unconscious bias during interviews can cause long-term hiring problems in your company?
Wondering what’s unconscious bias? Unconscious biases are preconceived notions that you tend to assign to an interviewee unknowingly that ultimately sway your decision.
Overall, job interviews can go either way: you may overlook a deserving candidate because of unprecedented bias in an in-person interview or hire a qualified candidate objectively based on a transcript that contains their responses to structured interview questions.
After all, in-person interviews can only predict 14% variability in performance.
4. Transcribing marketing materials such as promo videos and podcasts
If you’re running a business in 2018 with visions of spectacular growth, your marketing efforts must be visible in the digital world.
Video content is proven to increase customer engagement and boost conversions while podcasts are great for behind-the-scenes updates and sharing industry news.
But what about a part of your demographic who report hearing loss (that’s about 15% of adults in the US) or are situationally challenged in a noise-sensitive environment (for example in a library or public transport)?
Adding transcripts for your podcasts and promo videos can benefit you in more ways than one. While Google’s bots can’t watch the videos or listen to podcasts, they can crawl the respective transcripts for relevant keywords and suggest them to your target audience.
It’s quite simple really: integrate transcripts into your marketing process, boost your SEO, reach new markets, and grow sales!
5. Transcribing client calls
Unless you have a local client base whom you regularly met over coffee and bagels (these meetings need to be transcribed as well), calls with clients are often plagued by fuzzy voice feedback or bad reception.
This means you could be important details that can cause serious problems with deliverables. Transcribing a client call can help you organize client instructions and preferences better and complete a project without missing crucial details. Lastly, a transcript of a client call can be filed away for record keeping in case any business discrepancy crops up.
6. Transcripts of employee training materials
Let’s face it, employee training at any organization must be ongoing and you’re probably heavily leaning on video materials for training. After all, video material keeps a learner focused and are more interactive.
However, it’s often difficult to catch technical terms on the fly or watch videos in noise-sensitive environments.
This is where transcripts and captions come in as valuable learning aids. Apart from the interactive video, your employees can use transcripts as an aid when studying for relevant skill tests.
So, why do you need transcription for your business? To stay ahead of the competition, make better strategic decisions, share perfect deliverables, and grow your sales – pretty much everything your business is all about!
Overall, professional transcription for businesses meets the diverse needs of both growing and profitable businesses while keeping in-house costs lower and operations leaner.
Which transcription service do you plan to leverage to grow your business?