Many organizations rely heavily on transcription services to have written records of events, create reference materials, make content searchable, write books, and of course, increase revenue. The list of advantages and segments can be infinite, but as a start here are six industry segments that can benefit from transcription services:
Educational institutions
Professors in colleges and universities utilize transcription services in order to obtain physical transcripts of lectures, meetings, dissertations, group learning sessions, oral histories, presentations, conferences and more. They can keep it for their own use, use it as reference material in their teaching, or upload it to the class/school website.
Students who are conducting research for their projects, whether at undergraduate, graduate or doctoral level, normally employ transcription services for their recorded interviews for analysis and archival purposes.
Market Research
Research institutions are one of the biggest clients of transcription services because research often involves polling groups of individuals, either in blind studies or in focus groups, to gather opinions. Later they have the conversations transcribed for analysis or to be included in case studies. This applies to research about a new drug release, a new product, or discussions on social impact programs.
Legal
It is a common misconception that legal transcription services are only required by lawyers for official reasons, such as depositions and hearings. They also need to record their case notes and interviews with clients and have them transcribed in order to utilize information to argue and win cases.
Media
In order to get the most out of seminars, webinars, video blogging and podcasting, the transcripts are made available to customers and followers, or stored on the web. This makes it searchable by Google and other search engines, increases the domain’s web traffic and ranking, and consequently raises revenue.
Professionals in this field also conduct interviews, studies and research. The resulting transcripts can be used for analysis purposes, to create press releases; or simply as a record for future reference.
Businesses
Public companies have quarterly meetings and investor conferences to declare financial results, discuss performance and future plans, all of which need to be transcribed.
Additionally, there could be round table conferences discussing a particular subject which may need documentation for reference and archival purposes. It can also clear up any “He said, she said” situations that may occur. Some companies utilize transcription services to avoid disputes and lawsuits later on.
Life coaches, motivational speakers, and events
Individuals who speak professionally require transcription services. They can distribute the transcripts to their clients/audience as supplementary materials, or they can use the records to write books or e-books, or create scripts for TV or Radio shows.
The same applies for conferences and seminars. The transcripts can be sent to those who participated, made available for purchase or turned into an e-book. These solutions can increase earning potential by providing clients with more than one way to receive material.