Regardless of the size or kind of the company, transcription technology is crucial. The way you transmit and maintain information is impacted by transcription, in addition to how you conduct business every day. Your ability to retain, distribute, translate, and follow audio or video content is made easier through transcription.
91% of firms will use video as a marketing strategy in 2023 (an all-time high since 2016) due to the advantages of doing so, however, research shows that 69% of viewers mute videos while they are watching them. The following advantages of having your videos transcribed:
More open access
Enhanced communication and quicker turn-around
The very essence of business communication has evolved completely. A huge amount of audio and video content is produced every day in the modern corporate world in the form of presentations, webinars, workshops, interviews, conference calls, and more. For the objective of business transcription and compliance with laws, businesses must record audio and video. For your company, your audience, and the staff, there are plenty of advantages to transcribing of your content.
Before we go any further, we need to first define transcription so that we can then walk you through the key benefits of transcription technology for your company.
Understanding Transcription Technology
Before transcription technology existed, speech-to-text conversion was performed manually. It became essential for audio transcriptionists to listen to the speaker and type up what they heard.
With the rise of modern technology, including speech recognition, transcription has become continually simpler and easier to use. Despite these advancements, professional transcribing service providers still rely on manual processes, which affects the price of services and turnaround times. This method limits scalability due to reduced numbers and profit margins.
Only a few businesses use digital transcription software and those that do only achieve an average accuracy rate of 70–80%. AI technology is what sets leaders apart from other people.
The use of transcription technology to convert spoken words into written text, such as electronic documents, is beneficial. It makes it easier to automatically convert audio from:
Videos are one example.
Transcription is the process of turning spoken-language audio into a printable document, such as a report.
Although some systems use ML and NLP to transcribe speech, some additionally apply a human-in-the-loop (HITL) method to enhance transcription quality.
Best 6 Benefits of Transcription Technology for Your Business
Businesses utilize transcription to improve the searchability of their audio and video assets. Because search engines do not see videos or listen to audio, converting your content from speech to text will help Google bots read and understand your information. Your video will deliver informative content on a variety of topics.
Recording news conferences, staff meetings, and other events to give video transcripts and speed up data processing is becoming common practice. It will be easier to deal with clients, keep top management informed, and engage your personnel if these acts are documented in writing.
Let us know more about the primary advantages of transcribing technology.
1. MP3 files are converted to text.
Utilizing transcription technology to convert MP3 files to text is both quicker and less expensive. For a wide range of audio file formats, such as podcasts, speeches, and meetings, among many others, text transcripts might be useful. Text conversion of MP3 files has many benefits, including accessibility to SEO to conference notes. Transcribe MP3 to text to save time and money—you’ll be able to convert your MP3 into 120+ languages, dialects, and accents, which will be a game changer for your business.
It is straightforward and easy to convert your MP3 to text by following these simple steps:
You may bring in and upload an MP3 file from anywhere, such as a computing device, Google Drive, YouTube, or Dropbox.
Select “human-made” or “machine-generated” as the Audio language.
The human service transcription is provided with 99% accuracy while the automatic transcription software is lightning-fast and 85% accurate.
In order to get your MP3 files transcribed, click “export” and select your desired file type!
2. Promotes Reliability
Experienced transcriptionists are commended for taking the time to figure out the technical aspects of a book. Before starting the transcription process, they are familiar with the nature of the company’s operations and demands. This guarantees the paperwork contains fewer errors and that the professionals complete their work quickly.
When transcription is done from the original audio file and includes all the data from the record, its efficacy rises dramatically. Since a transcriptor will go back and listen to the audio several times to ensure the accuracy of the transcripts, their reports are much more reliable than those of a note-taker. Your transcript will be accurate and reliable if you use transcription software.
You are going to utilize transcription technology to ensure that more accurate information about your event is recorded by recording and transcribing the keynote speakers and roundtable conference discussions. All of their talks have been precisely recorded by you so that you can, later on, refer to them if necessary. It will be challenging to assure the accuracy of only writing notes; more is required. The option of whether to go back and make adjustments is never simple.
3. Variety of Data Dissemination
The most effective elements of a digital marketing strategy are videos. People find videos to be more entertaining, interesting, and educational. This clarifies why they remember the information and details offered in videos. Videos are fantastic for telling gripping stories and advertising goods or services.
Using video marketing techniques like video blogs, webinars, tutorials, advertising, customer testimonials, live streams, product videos, and live videos, businesses can now increase their conversion and visibility. So, making videos is a great way to reach your target audience.
Audio content is less popular than video and image content, which are the content kinds that are most frequently accessed. When listening to audio material, it can be difficult to digest everything at once.
However, if you have your audio transcribed, it will be offered to your audience in an extra effective digital format, which will make it quicker for them to understand. Posting transcribed audio on various sites, such as your website and social media, is also easy to do.
4. The Value of your content Gets Higher
Transcripts will make it simple to navigate through the content that market researchers and content creators use to create snippets, reels, and montages. Direct quotes will be copied and pasted to be used as testimonials, making it simple to skim and search transcripts for important phrases or subjects.
Many businesses employ transcription services to make it simpler to find video footage. Although search engines won’t watch or listen to an audio or video clip, having a transcript made available makes your video content more shareable. Google search engines will read captions and transcripts if a video is captioned or transcribed in order to determine the exact content of the video.
In accordance with the needs of your website, you can divide each transcript into several of pages or blogs. creating videos accessible to all of your viewers, including those who are visually challenged, is one of the main objectives of transcription.
5. Saves Both Money and Time
Any firm that uses transcription must pay a premium price since producing high-quality files takes a lot of time. Using a reputable transcription service will result in speedy, accurate transcripts and reduced administrative expenses.
An important benefit of outsourcing transcription services is the time and money that may be saved in many ways.
Once you have an experienced transcription team on staff, they will need the right equipment, resources, and qualified personnel to finish the job. Any business needs to invest a considerable sum of money in this. Transcription will be difficult given how long it takes to generate high-quality files. By using an established transcription service, you can save money on unnecessary overhead costs and get transcripts quickly and accurately. An additional benefit is that professional transcribers have years of knowledge in transcribing various kinds of files.
6. Encourages Multiple Viewing Options
Visitors will be able to watch your video material in locations where it is difficult to switch on the audio if it contains closed captions. When the sound is muted in a busy environment, this will also work.
Your video will be more relatable to viewers in a crowded area if it has captions. Additionally, viewers can view their films in places where it is not possible to turn on the audio by using subtitles.
Subtitles are necessary if you want your audience to comprehend what you’re saying because videos on most social media platforms often autoplay silently by default.
The Beneficial Effects of Transcription Technology
All meetings and conversations must be effectively and often documented by businesses; simple notes are insufficient to preserve searchable records. Using transcription technology will significantly improve your company’s capacity to safeguard important information, reach more customers, strengthen relationships with them, simplify work for employees, and expand your business.