Live Streaming: The More Sustainable Business Strategy
While many people still enjoy reading blog posts to gather information on a product, video marketing has become an increasingly popular strategy among brands. The majority of consumers report that they prefer watching videos on content to reading about it. Live streaming is an interactive, cost-effective, easy way to reach a broad audience through video. 62% of executives consider a sustainable business strategy necessary to be competitive.
What is Live Streaming?
Live streaming essentially refers to filming a video of what the creator is doing at a given time while allowing the audience to interact with a chat feature in real-time. On a basic level, there is no editing, and a simple phone camera is used. For viewers, it feels like an in-person conversation with the brand creating the video. At the same time, the content creator can reach thousands of potential customers all at once.
Why is Live Streaming a Sustainable Business Strategy?
Live streaming is a sustainable business strategy as it comes with almost no cost and yields tremendous results. Edited videos still have their place in marketing. These days, people prefer a raw, authentic presentation by a brand over a perfectly polished video.
Live streams give the viewer a sense that they are interacting with a real person rather than a choreographed performance.
While live streaming is an effective marketing strategy that will lead to business sustainability, businesses should consider how they implement live streaming into their marketing efforts.
How to Create an Effective Marketing Campaign Using Live Streaming
The first question to consider when implementing a live stream marketing strategy is: what is the stream’s end goal? While spontaneity is effective for audience engagement, there needs to be a purpose to every marketing strategy. Some potential goals may be to grow the brand’s following on social media platforms, expand the brand’s online presence in general, increase sales, promote a specific event, or any other goals.
Depending on the current state and type of business you have, your goals may vary. However, consumers want to feel like they are dealing with a relatable and real person or group of people rather than an untouchable, unfeeling company.
Live Streaming at a Promotional Event
Live streaming your event can lead to an increase in physical attendance. According to a case study, organizations that live stream their events experience a 23% conversion rate of remote to physical attendees in the next event.
Live Streaming About a Specific Release or New Product
If a new product being released by your company, you can go live and answer questions from the audience. This builds excitement and anticipation if done so that it doesn’t give too much away about the product. Instead, the stream should give a brief insight into the new product without revealing everything. This is a highly effective way to keep the audience on the hook and begging for more.
Engaging in live stream services to develop customized live stream technology serves as a sustainable business strategy that brings high returns. If your business is ready to make that next move, contact BeLive Technology for a free consultation.
BeLive has been a key player in the live streaming industry since 2014 with offices in Singapore and Vietnam. We developed and ran our own live streaming mobile application, which is how we know what is best for you.