If you are looking to purchase a new online video platform and are just getting started this article will be a big help for you. In this post we’ll be going over our 6 tips for selecting an online video platform. We’ll break down the specific topics and areas you should spend time on during your vendor evaluations and provide resources you’ll need to be successful.
A successful online video platform evaluation process should be grounded on the following foundational components that will eventually be the framework for your RFP:
- Outline of your business challenges
- Objectives you want the online video platform to contribute to
- Proposed outcomes from implementing an online video platform
- Personas of business users that will use the technology
- The geographies that will be using, accessing the video technology
- The types of video content that will be created, managed and distributed by the online video platform
- High-level requirements for the technology based on goals and objectives
- Software integrations needed to be successful
Once you have the foundation of your initiative then focus your evaluation on these key areas:
- Business Experience and Longevity — How long has the video vendor been in business? The company should be established with a history of success and a portfolio of logos to show for it. Since the online video industry is young and rapidly maturing it may be hard to find vendors with more than 15 years of experiences. Financial stability is also a big factor to examine. Since most online video vendors are not public companies where financial information is provided to the public, it will take some research to determine the financial health of a vendor. A quick hack is to use a service like Crunchbase to research recent funding and cash balances.
- Service Availability and Scale — The video platform vendor should have a track record of providing dependable service. Most SaaS vendors offer a guaranteed uptime of around 99.99%, demand this from your video vendors. The vendor should also have the scale to deliver video services anywhere in the world.
- One Vendor, Multiple Requirements — To reduce the number of video software vendors your working with its important to determine if a single vendor can meet all your online video needs. Working with multiple vendors can complicate processes, add cumbersome technical integration work and can be costly. Does the vendor have the product catalogue that will allow your organization to expand usage into new areas in the future?
- Access To Experts, Thought Leaders — Does the vendor provide access to human experts and not just software? It’s important to choose a vendor that provides strategy advice, best practices and support other than technical product knowledge.
- Pricing and Packaging — How does the vendor packaging their services and products? Does the model fit in with how your organization currently conducts business and works with other technology vendors? Is the vendor’s pricing positioned well when compared to competitors delivering comparable services?
- Customer Service — Customer service is key when it comes to hosting and delivering online video. Does the vendor offer reputable support and account managers? What are response times? Do you get access to a human or is support delivered via documentation in a online portal? The best online video platform vendors offer account management services in addition to great software.
We’ve made it extremely simple to jump start your online video software vendor evaluation. Here are just a few free resources you have access to to get started: