Live streaming is a rapidly growing marketing strategy because it is able to engage viewers with an immediacy that other social media formats can’t match. Marketers are benefiting from improved quality and the many live streaming options available today. In fact, 79 percent of them say live video leads to more authentic interaction and brings a human touch to digital marketing.
Living streaming exceeded 1.1 billion hours in 2019 and it’s predicted that 91 million subscribers will utilize live streaming by 2024. It’s likely to account for 17% of all internet video traffic by 2022 and businesses that don’t utilize it will miss out on a huge opportunity.
Benefit from immediacy
Real-time interaction removes barriers between a brand and an audience, allowing for improved communication. By sharing live videos on social media platforms, viewers can easily join a live stream.
They can participate immediately in the commentary about what they are seeing and interact with other viewers. This creates a sense of community and can generate debate about key content, products or services.
Live streaming also gives brands immediate feedback which helps them assess the level of audience interest. There’s a good reason major brands like Coke and Chevrolet have launched live stream campaigns. Audience feedback is extremely helpful when it comes to introducing new products.
Convey authenticity
One of the main ways to build trust with an audience today is to put a human face on brand. For instance, live streaming “meet the team” videos introduces customers to employees in an unscripted way. It’s easier for an audience to form connections with people behind the brand and understand more about what drives it.
Social media in sports offers a quick connection and ease of engagement between fans and the teams they love. For instance, MLB uses the Greenfly platform to give fans unique perspectives of players and games with original content from athletes about their life on and off the field. Fans are engaged during and after live sports events.
Increasing a brand’s transparency by showing informal moments with live streaming ultimately contributes to the consumer base.
Cast a wide net
Live streaming can reach large-scale audiences for exclusive fan releases, product launches, etc. It can generate leads a brand wouldn’t be able to reach through written content alone.
Scheduling a broadcast in advance is important and social media platforms like Facebook and Twitter provide reminders to registered users when broadcasting starts. Promoting in advance on a website or blog can also attract viewers.
With strategically placed CTAs, it’s possible to turn a live event into a great revenue generation tool. The CTA could be a free download, subscription to a newsletter, or a link to an informational video.
Provide limitless accessible content
Today it’s possible to live stream videos using smartphones and tablets. Combining social media channels with a live video solution opens up all kinds of opportunities for content. There’s no limit to what brands can live stream, from corporate events to global team meet-ups.
Live chats, Q&A and audience polls are some tools to help a brand to optimize its reach and drive engagement. Live content is easier to produce than on-demand video and it can be converted into other forms of content, such as infographics or blog posts. Live streaming is also cost-effective in that it can bring in leads at a fraction of the cost than other forms of marketing.
The significance of live streaming will only increase in the future, providing an essential way to communicate even when people are separated by physical distance.
