More and more brands are using live streaming to reach their audience and promote their business.
Companies like Facebook, Twitter, YouTube, Snapchat and, Twitch have invested millions of dollars to build and improve their own live streaming platforms. The idea isn't exactly a brand new one, as it has been around since 2011. But when Facebook launched its Facebook Live feature in 2016, live streaming was brought to the forefront.
Live streaming has rapidly grown in popularity because of its low cost and its sense of immediacy that gives viewers the feeling of being part of the action. In fact, the video streaming market is expected to grow from $30 billion in 2016 to about $ 70 billion by 2021, which makes it important for marketers to understand why it has become popular and how to use it to promote their brand. Here's some insight:
Live Streaming Gives Instant Gratification
Consumers don't want to wait a long time to enjoy their “win,” whether this is a discount, deal, or information. Live streaming gives them the instant gratification that they crave, by allowing them to interact immediately with your content.
When users join a live stream, they can instantly start to participate in the commentary. Not only can consumers engage with the host, they can also communicate with others about the topic, the services, products, and other key content. Live streaming also gives the company instantaneous feedback regarding their content, thereby giving them an idea of the interest level of the product.
Live Streaming Humanizes Your Company
Businesses can use live streaming to give their customers a look behind-the-scenes. They can even introduce their teams or other employees this way. This helps give a human face to your brand and improve the relationship between your customers and you.
Live Streaming Reaches More People
Live streaming should be a key tool in your marketing campaign. Unlike email marketing, which only reaches people on your list, live streaming can generate leads from people you haven't targeted. Word of mouth reviews or recommendations on social media can create interest in groups that the company wouldn't even have thought of reaching out to.
There are endless possibilities with live streaming, and many companies have already integrated it successfully in their marketing campaigns.
One brand that was able to leverage live streaming effectively was Kohl's. The retail chain introduced an instant purchase feature via a live stream during New York Fashion Week. Viewers who watched the stream also had access to the different clothing featured on the host catwalk. Kohl's masterful integration of the product links to the live feed led consumers to view relevant items and closed some sales.
If you intend to use live streaming to promote your brand or eCommerce business, it's important to be clear on what you want to achieve and what strategy you will use. Here are few ways to make the most of this marketing tool:
- Product Demos: Many consumers don't understand a product's value until they really see how it is used. A live stream product demo can show audiences what they need to know about the product and answer their questions. Some companies have even closed sales moments after the release of a live stream demo. Brands with complex products should consider a live stream campaign to explain the principles behind their products.
- Product Launches: Live streaming is a great way to launch new products or introduce additions to a product line. For instance, a handbag company can use Facebook Live to tease or showcase the new designs and colors of their spring collection.
- Entertainment: Companies can live stream company rallies, debates, workout or cooking sessions, or concerts to provide clients with special entertainment. This can help boost a company's popularity and image.
- Q&A sessions: User-driven Q&A sessions can provide important and actionable data. It also gives brands an image of authority and credibility. These sessions can be hosted by an expert or an influencer. Getting a celebrity to appear will also be a big draw.
- How-tos: How-to tutorials are one of the most successful strategies for content marketing, and using live streaming will boost this to a whole new level. For example, if you're running an online bookstore, an author reading an excerpt from their upcoming book will attract a lot of views and attention.
There's a reason why big companies like Coke and Chevrolet have utilized live-stream marketing campaigns. It engages customers quickly and introduces products effectively. Live streaming will continue to be a major factor in marketing, so it's time your business jump on the technology and uses it to your advantage.[Featured image via Pixabay]